ANNUAL REPORT 2009 - Saab

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financial information > notesNote 4, cont.Revenue by business segmentParent CompanyMSEK 2009 2008NOTE 6OTHER OPERATING EXPENSESDefence and Security Solutions 5,717 5,911GroupParent CompanySystems and Products 2,489 2,652Aeronautics 7,179 6,933Total 15,385 15,496Revenue by geographical marketParent CompanyMSEK 2009 2008Sweden 6,938 6,624Rest of EU 2,402 2,225Rest of Europe 190 124North America 538 347Latin America 15 46Asia 2,829 2,673Australia, etc. 248 209Africa 2,225 3,248Total 15,385 15,496MSEK 2009 2008 2009 2008Exchange rate losses on operatingreceivables/liabilities -56 - -55 -Loss from peripheralactivities -8 -18 -7 -6Impairment of buildings -8 - - -Loss on sale of tangiblefixed assets -1 -4 -1 -2Loss on sale of Groupcompanies - -35 - -Other -9 -11 -5 -25Subtotal -82 -68 -68 -33Change in value of derivatives-18 -81 - -Change in value ofcontracted flows 18 81 - -Subtotal - - - -Total -82 -68 -68 -33NOTE 5OTHER OPERATING INCOMEGroupParent CompanyMSEK 2009 2008 2009 2008Gain from peripheralactivities 46 49 - -Trading result 43 12 43 12Change in value ofbiological assets 13 2 - -Gain on sale of Groupcompanies and operations 4 103 - -Exchange rate gainson receivables/ liabilitiesof an operating natureand change in value ofderivatives 3 48 - 29Gain on sale of associatedcompanies - 7 - -Gain on sale of fixed assets - 4 - -Other 40 66 25 17Total 149 291 68 58NOTE 7LEASING OPERATIONSAs the former manufacturer of the regional aircraft Saab 340 and Saab 2000,Saab has a major interest in ensuring that these aircraft maintain high capacityutilisation. Over 500 aircraft have been delivered and 114 are included inSaab’s leasing fleet. Income from leasing operations (Saab Aircraft Leasing) isrecognised net through profit and loss on the lines other operating income orother operating expenses after offsetting the loss risk reserve. Saab AircraftLeasing’s income statement and balance sheet are largely usd-related, sinceits agreements on the sale and lease of aircraft are in usd. The exchange ratesused for translation of the financial statements are indicated in Note 49.Income statement Saab Aircraft LeasingMSEK 2009 2008Leasing revenue 363 383Interest income 64 136Other revenue 331 350Total revenue 758 869Leasing expenses -258 -269Interest expenses -63 -94Depreciation -176 -165Other expenses -372 -333Total expenses -869 -861Utilisation of loss risk reserve 139 6Operating income 28 1482 saab annual report 2009
financial information > notesNote 7, cont.Financial position Saab Aircraft LeasingMSEK 31-12-2009 31-12-2008AssetsLease assets 1,460 1,834Receivables from Group companies 1,597 1,125External receivables 277 201Inventories 12 39Liquid assets 16 27Total assets 3,362 3,226Equity and liabilitiesEquity 1,588 1,792Provisions 797 898Other liabilities 977 536Total equity and liabilities 3,362 3,226Security pledged for lease obligations amounted to msek 0 (0).NOTE 8ACQUISITIONS AND DIVESTMENTS OF OPERATIONSOn 29 June 2009, Saab aquired Tieto’s 60 per cent of the shares in the formerjoint venture TietoSaab Systems in Finland. After the transaction, the companyis wholly owned by Saab and has been integrated in Saab Systems. Thepurchase price was msek 75, resulting in a surplus value of msek 62. The overallimpact on Saabs’ net debt was msek 68. The acquisition has a marginaleffect on future sales and income.No other significant acquisitions or divestments were made during the year.The effect on the Group’s net debt in 2009 was as follows:MSEKPurchase price paid for TietoSaab Systems 75Less liquid assets in TietoSaab Systems -7Increase in the Group’s net debt 68NOTE 9EMPLOYEES AND STAFF COSTSAverage number of employees2009of whommen 2008of whommenParent CompanySweden 8,238 79% 8,161 80%South Africa 21 100% 26 88%USA 2 100% 3 100%India 2 100% 2 100%United Arab Emirates 2 100% 2 100%Belgium 2 50% 1 -Thailand 1 100% 1 100%Chile 1 100% 1 100%South Korea 1 100% - -2009of whommen 2008of whommenGroup companiesSweden 2,533 78% 2,797 78%South Africa 1,159 71% 1,019 74%Australia 334 75% 319 77%USA 251 51% 301 52%UK 122 81% 102 77%Denmark 92 86% 124 86%Finland 72 75% 3 100%Norway 44 86% 41 85%Switzerland 34 94% 42 95%Germany 34 88% 41 90%Nigeria 32 81% 14 86%Canada 8 88% 5 100%India 6 83% 6 83%Czech Republic 6 50% 6 50%France 5 100% 11 100%South Korea 4 75% 1 100%Hungary 3 67% 3 67%Chile 2 50% - -Netherlands 2 100% 12 83%Algeria 1 100% 1 100%United Arab Emirates 1 - - -Japan 1 100% 1 100%Singapore 1 - - -Slovenia 1 100% 1 100%Austria - - 86 78%Group companies, total 4,748 75% 4,936 76%Joint venturesSweden 27 85% 34 82%Finland - - 26 73%Joint ventures, total 27 85% 60 78%Group total 13,045 78% 13,199 78%Gender distribution of corporate managementShare of women, per cent 2009 2008Parent CompanyBoard of Directors 15 15Other senior executives 30 25UK - - 2 100%Greece - - 1 100%Singapore - - 1 100%France - - 1 100%Malaysia - - 1 100%Parent Company, total 8,270 79% 8,203 80%saab annual report 2009 83
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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
Page 33 and 34: DEFENDING AGAINST THE UNEXPECTEDIn
Page 35 and 36: SAAB’S business year 20092009 Imp
Page 37 and 38: ADMINISTRATION REPORT > FINANCIAL R
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Page 41 and 42: ADMINISTRATION REPORT > aeronautics
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Page 50 and 51: climate change directive and establ
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Page 82 and 83: financial information > notesNOTE 4
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shareholder information > corporate
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SHAREHOLDER INFORMATION > board of
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SHAREHOLDER INFORMATION > group man
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SHAREHOLDER INFORMATION > THE SAAB
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SHAREHOLDER INFORMATION > THE SAAB
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shareholder information > quarterly
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shareholder information > financial
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ANNUAL REPORT 2009 - Saab

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