Combitech 2023, Strong growth with a focus on building resilience

09 February 2024

Throughout the past year, the world has remained in a troubled state, and Combitech's mission to accelerate development for a smart and resilient society has never been more important. There has consistently been a clear increased focus on the importance of a functioning total defense and on building resilience in all sectors of society. Strong momentum in a growing market in 2023 thus provided significant organic sales growth of more than 15% as well as a 27% earnings improvement, with a very strong cash flow of SEK 387 million.

Throughout the past year, the world has remained in a troubled state, and Combitech's mission to accelerate development for a smart and resilient society has never been more important. There has consistently been a clear increased focus on the importance of a functioning total defense and on building resilience in all sectors of society. Strong momentum in a growing market in 2023 thus provided significant organic sales growth of more than 15% as well as a 27% earnings improvement, with a very strong cash flow of SEK 387 million.

 

During the year, Combitech deepened its relationships with strategically important customers and at the same time implemented several initiatives, partnerships, and collaborations to further strengthen societal resilience. To meet the continued strong demand from customers, close to 500 new colleagues were welcomed – a record – in 2023.  

 

It makes me proud and hopeful that more and more people want to be involved in building resilience and strengthening our communities and businesses, which is more important than ever. In 2023, we have welcomed almost 500 new colleagues, who will work with total defense and digitalization. We have also initiated a collaboration with Mattecentrum to inspire young people to study technology and become engineers.

Jessica Öberg, CEO of Combitech.  

 

Highlights of the year

  • LSS Mark, a ten-year framework agreement with The Swedish Defense Materiel Administration (FMV), with a total value of approximately SEK 1.2 billion throughout the contract period, including services and technical support to the Army's digital infrastructure for command-and-control support.
  • Further development of Combitech's strategic partnership with BAE Systems Hägglunds through several major commitments. 
  • The Swedish Post and Telecom Authority (PTS) agreements regarding the operation, management, and further development of systems for collaboration and reporting of the telecommunications situation in Sweden.
  • Swedish Civil Contingencies Agency’s (MSB) framework agreement for consultancy services in the field of exercises.
  • Combitech joined the Ericsson Enterprise Partner Program to sell and deliver secure solutions through private 5G networks.
  • Partnership with Mattecentrum to solve the challenges related to the shortage of future engineers.
  • Swedish-Ukrainian business collaboration with Sigma Software for increased exchange of experience and expertise.
  • A record-breaking recruitment of close to 500 new colleagues.
  • Combitech's CEO, Jessica Öberg, takes a seat on the Board of Directors of the Swedish Security and Defence Industries (SOFF).
  • During the spring, Combitech surveyed the preparedness of the business sector and launched the Total Defense Report, which shows that only 10% of companies are prepared, but that 70% want to know more.

Key figures for 2023 (comparative figures 2022 in brackets)

Sales revenue: Turnover 3.922 MSEK (3.399 MSEK)

Result and margin: Operating profit, EBIT 340 MSEK (267 MSEK)

Operating margin: 8,7% (7,9%) 

Operating cash flow: 387 MSEK (177 MSEK) 

Number of employees at the end of the fourth quarter: 2.316

 

For further information, please contact:

Ulrica Matsers, Head of Communications and Marketing, Combitech AB

Phone: 0734-46 00 70, E-mail: ulrica.matsers@combitech.com 

Merton Kaplan, Head of Investor Relations, Saab AB  

Phone: 0734-18 20 71, E-mail: merton.kaplan@saabgroup.com

Ulrica Matsers

Head of Marketing & Communications

ulrica.matsers@combitech.com

+46 (0) 734 46 00 70

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