Saab Ab Class B · OMXSTO:SAAB_B
Saab Ab Class B — Q3 2026 Earnings Presentation
23 slides from Saab Ab Class B's earnings presentation, October 2026
Slide 1: Positioned to capture growing demand
Saab interim report January – September 2026 Positioned to capture growing demand Micael Johansson, President and CEO Anna Wijkander, CFO Johan Andersson, IR
Slide 2: Important information
Important This presentation may contain forward-looking statements which reflect the Saab Group’s current view on future events information and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which impl
Slide 3: Highlights Q3 2026
Highlights Q3 2026 ▪ Evolving security environment reinforces defence investments in all domains ▪ Strong profitable growth: nine-month organic sales growth of 27.5% and EBIT growth of 39% ▪ Group management changes to support growth and innovation ▪ Continued investments in production capacity and
Slide 4: Strong order bookings in Q3
Strong order bookings in Q3 16 Gripen E Two GlobalEye to Order related to Future fighter RBS 70 NG order to Ukraine undisclosed customer German Navy frigates concept order from Finland SEK 24.6 bn SEK 10.1 bn SEK 8.7 bn SEK 2.9 bn SEK 1.2 bn 4
Slide 5: Key figures
Q3 2026 Key figures Book-to-bill Order bookings, SEK bn High customer Sales, SEK bn 65.8 20.6 ratio of 3.2x. deliveries and Backlog of strong SEK 364 bn programme execution 216% increase YoY 30.6% organic growth YoY Higher sales and EBIT, SEK bn Record cash Operational cash flow, SEK bn 1.95 6.8 str
Slide 6: Aeronautics
Business area Aeronautics ▪ High interest in the Gripen E/F system ▪ Order for 16 Gripen E aircraft to Ukraine booked in the quarter ▪ Future fighter system order from Sweden ▪ Sales growth driven by good project execution ▪ Maiden flights for Gripen F (two-seater) as well as the Brazilian- built Gr
Slide 7: Dynamics
Business area Dynamics ▪ Continued good demand across the portfolio ▪ Large RBS 70 NG order from Finland and an order for IRIS-T ▪ US orders for Carl-Gustaf and AT4 systems ▪ Book-to-bill of 2.0 in the quarter ▪ Sales growth supported by a high level of deliveries Sales, SEK million YoY +16% +10% Or
Slide 8: Surveillance
Business area Surveillance ▪ Strong demand and a well-positioned portfolio ▪ Order for two GlobalEye aircraft booked in the quarter ▪ Term sheet signed with Canada for six aircraft ▪ Ongoing GlobalEye negotiations with NATO as well as for the Netherlands ▪ Sales growth driven by surface sensors and
Slide 9: Naval
Business area Naval ▪ Order to equip four new German frigates booked in the quarter ▪ Strong project execution supported sales growth ▪ Poland submarine programme initiated ▪ Continued capacity expansion ▪ Successfully launched the LUUV demonstrator together with FMV and the Swedish Armed Forces Sal
Slide 10: Combitech
Independent subsidiary Combitech ▪ Good order bookings driven by the defence and telecommunications segments ▪ Renewed FMV contract for the Armed Forces’ weather system and military radio system integration ▪ Involved in sovereign AI development for Saab through Sferical AI ▪ Sales growth related to
Slide 11: Sustainability
Q3 2026 Sustainability ▪ Published a Climate Transition Plan, outlining the pathway towards science-based climate targets and net-zero emissions ▪ Scope 1 & 2 CO2-eq emissions increased by 4% YTD. Overall reduction progress since base year 2020 is -34% ▪ Recognised by TIME Magazine and Statista as t
Slide 12: Investing in capacity expansion
Investing in capacity expansion Representative cases Aeronautics Gripen capacity expansion Future capabilities Group investments (excl. capitalised R&D) T-7 production 0,3 10 0,25 Dynamics 8.1 Missile production 8 Ground combat expansion 0,2 6.5 New facilities in the US and India 6 0,15
Slide 13: Financial summary
Q3 2026 Financial summary Anna Wijkander, CFO 13
Slide 14: Profitable growth and increased cash flow
Profitable growth and increased cash flow Sales EBIT Operational cash flow +24% +33% 77% 42 52 64 79 93 3.3 4.3 5.7 7.7 9.6 2.6 3.2 2.5 5.3 14.0 2022 2023 2024 2025 R12 2022 2023 2024 2025 R12 2022 2023 2024 2025 R12 XX% = Sales/EBIT CAGR and Cash conversion SAAB INTERIM REPORT 14 *CAGR base year 20
Slide 15: Group gross income and EBIT
Q3 2026 Group gross income and EBIT Gross income and margin Group EBIT +32% +42% 5,551 5,748 4,813 2,925 2,794 4,475 3,642 1,920 1,945 22,9% 23,4% 1,374 8,7% 9,5% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ▪ Sales growth main contributor to increased gross income
Slide 16: EBIT per business area
Q3 2026 EBIT per business area Surveillance Dynamics +111% -18% 1,294 * 1,522 1,422 939 845 520 658 637 446 537 19,3% 13,7% 10,8% 14,3% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ▪ High delivery volumes and strong execution, including ▪ EBIT declined from last ye
Slide 17: EBIT per business area
Q3 2026 EBIT per business area Aeronautics Naval +56% +15% 349 337 339 328 331 275 240 212 180 108 6,8% 7,5% 6,1% 4,8% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ▪ EBIT growth driven by good project execution and ▪ Submarine production progressed, and work began
Slide 18: Record cash flow reflecting high customer payments
Jan-Sep 2026 Record cash flow reflecting high customer payments ▪ Strong operational cash flow reflecting customer payments ▪ Significant investments in capacity Group Cash Flow, expansion ▪ Higher ROCE driven by higher +5.7 profitability and capital turnover September 2026 116.2% 8.6 7.7 -6.5 Cash
Slide 19: Net liquidity position
Q3 2026 Net liquidity position Liquidity / debt position, Q3 2026 Q3 2026 10 8 -1x -0,8x -0.6x Net debt/EBITDA* 34.6% Equity/Asset ratio 6 -0,6x Q3 2026 Q3 2026 26.1 6.0 -0,4x 4 -0,2x 2 Cash and liquid Unutilised Revolving Credit 0x investments, SEK bn Facility, SEK bn 0 0,2x -2 0,4x -4 Q3 Q4 Q1 Q2
Slide 20: Solid order backlog of SEK 364bn supporting future growth
Solid order backlog of SEK 364bn supporting future growth Order backlog duration, Backlog by business area, +63% +55% 25% 28% Aeronautics 102.1 +216% Dynamics Surveillance 89.2 Naval +94% 83.0 21% 26% 62.8 62.0 +18% 57.6 Backlog by delivery period, 32.0 27.9 26.3 23.7 8% 23% 2026 2027 28% 2028 17% 2
Slide 21: Medium term targets
Medium term targets 2023-2027 Organic sales growth ~22% CAGR* EBIT growth higher than Operating income organic sales growth Cash conversion >60%** *CAGR base year 2022, **Cash conversion = Operational cash flow / Adjusted EBIT (cumulative over 2023-2027) SAAB INTERIM REPORT 21 JANUARY – SEPTEMBER 20
Slide 22: Save the date: Capital Market Day 2027
Save the date: Capital Market Day 2027 12 May 2027 Linköping, Sweden 22
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