Continued stable order situation and high demand for Combitech
The Nordic solution and consulting partner Combitech releases its second quarterly report for 2022. The report shows a strong market with continued growth and high demand. The interest in Combitech both as an employer and a solutions partner is continuously high.
– In a time characterized by high complexity both in terms of security as well as the economic and political situation worldwide, Combitech continues its stable development. Together with our customers and partners we create a safe, sustainable, and resilient society by reinforcing Sweden’s total defense, leading the industry’s digital transformation and supporting our public organizations in security questions, says Jessica Öberg, CEO of Combitech.
Combitech sees a continuously high demand from both industry and public organization when it comes to solutions and competence in information security, digitalization and streamlining. To meet this high demand from customers, Combitech continues to have a great need to recruit. This entails an increased focus both on recruitments but also on keeping employees, through investments in talent programs and competence development.
Key events during April – June 2022
- In the current security situation Combitech continues to support important customers in the defense sector. New assignments with BAE Hägglund, Saab, FMV and FM were acquired during the second quarter.
- During the spring FMV assigned a systems security framework agreement to Combitech. The agreement concerns several areas including Vehicles, Management systems and business development. This gives Combitech the opportunity to provide FMV/FM with a broad support within systems security. The framework agreement period is two years with a possible option for another two years.
- The Swedish Civil Contingencies Agency (MSB) has during the second quarter signed a framework agreement with Combitech for consultant services within emergency preparedness and civil defense. Combitech commits to being a resource when it comes to the functionality of society in times of crisis, increased preparedness, and war.
- Combitech and Holmen Iggesund has entered an agreement where Combitech will deliver a private 5G network for exterior and interior mobile coverage for Iggesund’s factory. The installation is a first step in Iggesund’s ambition to create the smartest cardboard factory in Sweden.
- Combitech has during the second quarter signed a partner agreement with the Swedish Space Corporation (SSC) concerning technical consultant services. The agreement concerns SSC’s operations at Esrange Space Center, situated outside of Kiruna.
- To secure future access to competence we have deepened our collaboration with Mälardalen University, where students get the opportunity to participate in a four-week university course focused on aviation, surveillance/reconnaissance, communications/leadership, logistics and security developed by Combitech.
Key figures January – June 2022
*Prior year has been pro-forma adjusted
Order intake in the first half year was 1 683 MSEK, a decrease with 2 percent compared to the first half of 2021 (1 725 MSEK).
Sales amounted to 1 661 MSEK, an increase with 4 percent compared to the same period ( 1 591 MSEK).
Result and margin
Operating profit (EBIT) was 136 MSEK, which is a decrease with 16 percent compared to last year (162 MSEK). The operating margin was 8,2 percent, compared to 10,2 percent first six months 2021. Operating cash flow Operating cash flow for the first half year amounted to 20 MSEK, compared to 161MSEK for the first half year of 2021. The decline is a result of lower EBIT and business structure changes where a small part of operations was moved within the group resulting in a negative cash flow impact for Combitech.
Number of employees
The number of employees at the end of the second quarter was 2 075.