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

26 April 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.

Combitech is accelerating the development of a smart and resilient society. During the first quarter of the year, the geopolitical security situation has been in full focus, which is reflected in Nordic customer assignments within defense, the defense industry and among emergency authorities.

Jessica Öberg, CEO Combitech

Our experts are working intensively to address the uncertainty that threat actors want to cause society. We monitor and manage incidents that happen to our customers, with varying degrees of severity, all the time. Our employees are deeply interested in contributing to the Nordic countries total defense, and we are pleased to see that we also attract both senior and junior new colleagues who want to contribute to a resilient society.

Jessica Öberg, CEO of Combitech.

During the first quarter of 2023, there was a significant increase in various assignments:

With existing customers, such as in the surveillance and radar area at Saab, as well as maintenance assignments for the Finnish Defence Forces.
Assignments within the framework of the partnership with BAE Systems Hägglunds for further development of solutions and products in projects, as well as a new pre-study on the Battlefield of the Future, and a project with a repair tracked vehicle for CATV 3N.
New framework agreement with the Swedish Armed Forces regarding competence. The framework agreement covers services focusing on strategic, tactical, and operational military competence in arenas such as command, ground, sea, air, logistics, digitalization, and cyber security.
New framework agreement with the Swedish Transport Administration regarding EU collaboration in intelligent transport systems, where digitalization is a fundamental force.
Order of a complete AWOS7 including weather sensors from the regional airport in Eggenfelden, Germany.

Key figures for January-March 2023

(compared to Q1 2022)

Sales revenue: MSEK 966 (795 MSEK)

Profit and margin: EBIT 111MSEK (81MSEK). Operating margin: 11,5% (10,2%)

Operating cash flow: 138 MSEK (2MSEK)

The number of employees at the end of the first quarter was 2172

For further information, please contact:

Ulrica Matsers, Head of Communications and Marketing, Combitech

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

Merton Kaplan, Head of IR, Saab AB

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

Quarterly Report

Ulrica Matsers

Head of Marketing & Communications

ulrica.matsers@combitech.com

+46 (0) 734 46 00 70

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