Combitech shows continued growth in the third quarter of 2023

26 October 2023

The increasing need for Combitech's domain expertise, particularly within total defense, drives demand for the company's experts and services. Sales grew organically by 16% during the period, with an accumulated sales growth over the year of 19%.

Interest in Combitech's expertise in civil and military defense, artificial intelligence, and cyber security continues to grow. Meanwhile, more and more organizations need support in building knowledge to manage disinformation, which is increasing significantly.

The increasing demand for our experts is proof of the important and deep expertise we at Combitech provide to shape a smart and resilient society. Our employees are the absolute core of our business, and their efforts in various sectors of society make a difference.

Jessica Öberg, CEO of Combitech.

Different sectors of society, such as business, politics, and academia, show a great need and desire to accelerate societal development by using technology and integrated working methods. The demonstration week for research and innovation arena WARA-PS in Västervik, held in September, where Combitech plays a leading part in development, is an example of how organizations together can explore the interaction between AI, autonomy, and humans in civilian rescue systems.

Combitech has also maintained a high recruitment rate and has welcomed 165 new employees during the quarter, while staff turnover is decreasing.

As a leading Nordic tech, solutions, and consulting partner, it is crucial that we continue to focus on developing our skills in a world that changes at an increasingly fast pace.

Our way of working with personal development, like during the last Course Week where 700 employees broadened their expertise in various areas, is therefore important both for our delivery and for our employees' growth opportunities.

Jessica Öberg, CEO of Combitech.

Important events during the quarter

Extension of agreement with the Swedish Armed Forces for the Swedish Defence TeleNet (FTN), regarding nationwide networks and IP-based infrastructure.
A new order to conduct a feasibility study for the installation of Private Network/5G at BAE Systems Hägglund's test facility.
Combitech is strengthening its position in the financial sector as a supplier of TIBER tests in the Nordic region by winning contracts.
Demonstration week in September for the research and innovation arena WARA-PS, which focuses on how AI, autonomy, and humans can interact in civilian rescue systems.
During the quarter, 13 new graduates started Combitech's Talent program, which is running for the third time, focusing on AI.
Combitech carried out its annual Course Weeks during the quarter, engaging about 700 employees to deepen and broaden their expertise in several areas.

Key highlights Q3 2023 (Q3 2022)

Sales revenue: Turnover 816 MSEK (703 MSEK)

Profit and margin: EBIT 43 MSEK (36 MSEK)

Operating margin: 5,3% (5,1%)

Operational cash flow: -36 MSEK (-113 MSEK)

The number of employees at the end of the third quarter: 2 245 (2 142)

Quarterly Report

Ulrica Matsers

Head of Marketing & Communications

ulrica.matsers@combitech.com

+46 (0) 734 46 00 70

Other news

28 November 2023

Combitech accelerates to ensure a functioning society beyond force  majeure

The Nordic tech solution and consulting partner Combitech, which together with its customers and partners creates resilient businesses and societies, today releases its report for the year 2022. During a year characterized by a complex geopolitical situation in terms of both security and economy, Combitech continues to grow organically in turnover as well as in number of employees while maintaining operating profit at the same level as last year. Focus is on further strengthening the total defense, vital societal functions, and the community preparedness, as well as on the intensified work to lead the industry's rapid digital transition to smart and safe manufacturing.

20 July 2023

Combitech continues to grow, recruiting 220 new employees during the quarter

The complex security policy environment continue to dominate the second quarter of 2023. This is reflected in growing demands, from several sectors, and further high needs for services within total defence. Combitech reported an order intake increasing by 54 percent, while recruiting over 220 new employees.

26 April 2023

Strong growth and profitability for Combitech in the first quarter of 2023

During the first quarter of the year, Combitech, the Nordic tech solutions and consulting partner, shows a strong and profitable organic growth of over 20 percent. During the period, more than 100 new employees were welcomed to the company.

All news