We continued to develop well during the third quarter, with increased earnings and strong order intake. For the January-September period, earnings increased by 15% compared to the same period last year.
Hans Torin, CEO of Combitech.
The national defence area, which encompasses both civilian and military defence, is highly topical. At the same time, interest from industry and the public sector has remained strong with regard to the benefits of digitalisation and collaborations geared towards increased sustainability and competitiveness.
The development of industry 4.0 and an increasing number of collaborations between different companies and organisations are extremely positive and important for making Sweden even more competitive.
Hans Torin, CEO of Combitech.
There is also continued high demand for cybersecurity services from the financial sector, for example, where the European framework TIBER is placing requirements on standardised tests in order to strengthen resilience against cyber threats in the financial sector.
Key events in the third quarter of 2020
- Combitech has won important assignments in the financial industry linked to the European framework TIBER. The assignments entail simulating threats and developing realistic scenarios through threat intelligence-based work, which is then used as a basis for advanced security tests.
- During the third quarter of 2020, Combitech signed several new agreements in the public sector, primarily in IT services and information security.
- The Sustainable Underground Mining (SUM) industry collaboration, which includes Combitech, was strengthened during the period with a new partner. The new partner is the mining and industrial group Sandvik. SUM, which is one of Sweden’s largest industrial projects, aims to develop tomorrow’s digitised, autonomous and carbon-free mine. Combitech, along with LKAB, ABB, and Epiroc, has been a member of the collaboration for some time.
- During the period, Combitech’s commitments in national defence, both civilian and military, have increased. Combitech has been supporting a large number of government agencies in the restoration of national defence, and has gained new security-related customers and assignments, primarily within energy and telecom.
Key figures January-September 2020
Order intake
Order intake during the period amounted to SEK 1,952 million, an increase of 20% percent on the same period last year (SEK 1,629 million).
Sales revenues
Sales revenues amounted to SEK 1,834 million, an increase of 2% compared to the same period last year (SEK 1,794 million).
Earnings and margin
Operating profit (EBIT) increased to SEK 123 million (107 million). The operating margin increased to 6.7% (5.9%).
Operating cash flow
Operating cash flow increased to SEK 515 million, compared to SEK 57 million during the same period in 2019. The improved cash flow can be partly attributed to the temporary tax payment deferral of SEK 230 million due to Covid-19, as well as to natural fluctuations in working capital.
Number of employees
The number of employees now stands at 1911, compared to 1903 in the corresponding period last year.
Contact
Merton Kaplan, IR Manager, Saab AB
Tel.: +46 (0)73 418 2071, E-mail: merton.kaplan@saabgroup.com
About Combitech
Combitech is a Nordic solution and consulting partner with services in areas such as digital transformation, cybersecurity and national defence. We have 1900 employees helping companies, industries and the public sector to benefit from technology, digitalisation and innovation for a sustainable and secure society. To put it simply, technology with a purpose!
Combitech is an independent company in the defence and security group Saab AB.
