ANNUAL REPORT 2009 - Saab

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financial information > notesNote 50, cont.MSEKJan.-Dec.2009Jan.-Sep.2009Jan.-Jun.2009Jan.-Mar.2009Jan.-Dec.2008Jan.-Sep.2008Jan.-Jun.2008Jan.-Mar.2008Jan.-Dec.2007CAPITAL EMPLOYEDAeronautics 2,146 2,675 2,665 2,648 3,022 4,180 4,168 3,984 4,202Dynamics 2,880 3,169 3,175 2,873 2,942 3,533 3,435 3,187 3,698Electronic Defence Systems 5,621 5,789 5,564 5,206 5,571 5,401 5,235 4,981 5,130Security & Defence Solutions 3,159 2,841 2,858 2,599 2,496 2,291 2,806 2,597 2,979Support & Services 1,807 1,620 1,836 1,623 1,518 1,413 1,414 1,209 977Corporate -1,282 -1,567 -1,647 -1,672 -2,331 -1,993 -950 -2,084 -2,217Total 14,331 14,527 14,451 13,277 13,218 14,825 16,108 13,874 14,769NUMBER OF EMPLOYEESAeronautics 3,015 3,040 3,065 3,091 3,100 3,043 3,023 2,979 2,911Dynamics 1,739 1,765 1,781 1,805 1,805 1,793 1,812 1,851 1,849Electronic Defence Systems 2,601 2,633 2,632 2,615 2,670 2,638 2,631 2,613 2,491Security & Defence Solutions 2,568 2,543 2,518 2,462 2,449 2,657 2,656 2,769 2,875Support & Services 1,749 1,757 1,765 1,796 1,814 1,839 1,718 1,742 1,734Corporate 1,487 1,507 1,515 1,509 1,456 1,436 1,953 1,909 1,897Total 13,159 13,245 13,276 13,278 13,294 13,406 13,793 13,863 13,757SPLIT OF SALESDEFENCE/CIVIL, %Aeronautics 91/9 92/8 93/7 93/7 93/7 94/6 95/5 93/7 94/6Dynamics 91/9 90/10 90/10 91/9 90/10 89/11 90/10 87/13 92/8Electronic Defence Systems 99/1 99/1 99/1 100/0 100/0 100/0 100/0 100/0 100/0Security & Defence Solutions 67/33 65/35 68/32 65/35 72/28 73/27 76/24 77/23 74/26Support & Services 77/23 77/23 70/30 67/33 74/26 75/25 72/28 71/29 61/39Total 83/17 84/16 87/13 83/17 83/17 82/18 83/17 81/19 81/19NOTe 51DEFINITIONS OF KEY RATIOSOperating marginOperating income as a percentage of sales revenue.Adjusted operating marginOperating income adjusted for the result from divestments and nonrecurringincome/expenses as a percentage of sales revenue.Capital employedTotal capital less non-interest-bearing liabilities.Return on capital employedOperating income plus financial income as a percentage of average capitalemployed.Return on equityNet income for the year as a percentage of average equity.Profit marginOperating income plus financial income as a percentage of sales.Net liquidity/net debtLiquid assets, short-term investments and interest-bearing receivables lessinterest-bearing liabilities and provisions for pensions.Equity/assets ratioEquity in relation to total assets.Net debt/equity ratioNet debt in relation to equity.Interest coverage ratioOperating income plus financial income divided by financial expenses.Earnings per shareNet income for the year attributable to Parent Company shareholders’interest , divided by the average number of shares before and after fulldilution. There is no dilution impact if the result is negative.Equity per shareEquity attributable to the Parent Company’s shareholders divided by thenumber of shares at the end of the year.Capital turnoverSales divided by average capital employed.124 saab annual report 2009
finanCIAl information > dividend motivationdividend motivationThe Board of Directors’ statement according to chapter 18, § 4 of the Companies Act with regard to the proposeddividend – Saab ABSaab is one of the world’s leading high-technology companies,because of which its operations are distinguished by complex developmentassignments on the cutting edge of technology. Over theyears, Saab has conducted significant development projects andmanaged the associated risks with great success. See also risks anduncertainties in the annual report.The Board of Directors’ proposed dividend amounts to SEK 2,25per share, corresponding to a total dividend of MSEK 237. Unrestrictedequity amounts to MSEK 3,103 in Saab AB and profit andloss carried forward in the Group before the dividend paid amountsto MSEK 8,139.Net income for the year attributable to Parent Company’s shareholdersamounted to MSEK 686 for the Group and MSEK 1,675 forthe Parent Company.After paying the dividend, the Group’s equity/assets ratioamounts to 35 per cent, compared with the long-term objective of30 per cent. Since the IPO in 1998, the equity/assets ratio has risenfrom 22 per cent to 35 per cent in 2009.The Group’s gross capital expenditures in 2009 amounted to MSEK197, which is considered a good approximation of annual futureinvestments in tangible fixed assets. Investments are also made inresearch and development, which in 2009 amounted to MSEK 1,194,of which MSEK 67 was capitalised in the balance sheet.During the year, Saab had a net debt position. Net debt and interest-bearingliabilities, including provisions for pensions less liquidassets and interest-bearing receivables, amounts to MSEK 634. Saab’sability to carry out its commitments is not affected by the proposeddividend either on a short- or a long-term basis.The proposed dividend is considered justifiable with regard to whatis stated in chapter 17, § 3, paragraphs two and three of the CompaniesAct (2005:551):1. the demands that the company’s nature, scope and risks place onthe size of its equity, and2. the company’s consolidation needs, liquidity or financial positionin other respects.The Board of Directors of Saab ABsaab annual report 2009 125
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CONTENTSSaab in brief 2Saab 2009 3L
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SAAB IN BRIEFSaab serves the global
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LOOKING FORWARDOur principal scenar
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LOOKING FORWARDlarge cities as node
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Saab Chairman Marcus Wallenberg (MV
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saab’s vision and missionour miss
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Partnerships between public and pri
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In civil security, we have good opp
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SAAB’S STRATEGIESChiefFinancialof
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SAAB’S STRATEGIESTraditionally, S
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SAAB’S MARKET AND OFFERINGA COMPR
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SAAB’S MARKET AND OFFERINGMultina
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SAAB’S GEOGRAPHICAL MARKETSSweden
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Saab in Southern AfricaIn the relat
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DEFENDING AGAINST THE UNEXPECTEDIn
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SAAB’S business year 20092009 Imp
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ADMINISTRATION REPORT > FINANCIAL R
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ADMINISTRATION REPORT > defence and
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ADMINISTRATION REPORT > aeronautics
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ADMINISTRATION REPORT > SAAB’S RE
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ADMINISTRATION REPORT > SAAB’S EM
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ADMINISTRATION REPORT > SAAB’S EM
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climate change directive and establ
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ADMINISTRATION REPORT > SAAB AND TH
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ADMINISTRATION REPORT > RISKS AND R
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ANNUAL REPORT 2009 - Saab

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