SAABY - Saab AB (publ) (SAABF) Q2 2024 Earnings Call Transcript
2024-07-19 15:36:05 ET
Saab AB (publ) (SAABF)
Q2 2024 Earnings Call Transcript
July 19, 2024, 04:00 AM ET
Company Participants
Merton Kaplan - Head of IR
Micael Johansson - President and CEO
Christian Luiga - CFO and Deputy CEO
Anna Wijkander - Deputy CFO and Head of Corporate Control
Conference Call Participants
Kseniia Maslova - UBS
Aymeric Poulain - Kepler Cheuvreux
Virginia Montorsi - Bank of America
Sam Burgess - Citi
Erik Golrang - SEB
Henric Hintze - ABG Sundal Collier
Presentation
Merton Kaplan
Good morning and welcome to Saab's Q2 Presentation Call. I'm Merton Kaplan, Head of Investor Relations at Saab. So, this morning, we released our Q2 report and we will go through that today in the normal -- our session. We will deep dive into the business side and we'll also deep dive into the financial side, and that's why I have Saab's CEO, Micael Johansson, and, Saab's CFO, Christian Luiga, here with me today. After the presentation, about 30 minutes, we'll have a Q&A and take your great questions, and then I will give back the word to Micael for concluding remarks, and also present our new CFO, and we will get back to that.
And, I think, with that, I leave it to you, Micael, to start the presentation.
Micael Johansson
Thank you so much, Merton, and thank you for joining us this beautiful morning in Stockholm. Let me start with some highlights from the quarter and, as you've seen, our order intake really shows how successful we have been in the marketplace lately and the demand in our portfolio is actually great. We have really good position with our portfolio and I see that that demand just continues, and this is the second strongest quarter we've ever had on the order intake side. So that is -- we are strengthening our position all the time in the marketplace.
We still see a long term demand. I mean, all the projections we've seen on the European market has been on a 10-year perspective increasing dramatically, and now also attending the NATO summit last week seeing how many countries now, 23 out of the 32, supporting the 2% floor target, I would say, when it comes to defense spending and also the NATO Alliance sort of Western support of Ukraine and how to sort of spend money on that from the member states going forward also adds to that long term demand, I think. So, there are fundamentals in the marketplace supporting the long term demand. That goes for Ukraine as well of course, where we have lately seen a package from Sweden, SEK13 billion, including two airborne early warning aircrafts that will then have led to a replacement contract for another GlobalEye for us that then expedited also the delivery pace on the existing contract. So, that's also a sign of how important the support of Ukraine is, of course, but that adds to the demand as well....
Saab AB (publ) (SAABF) Q2 2024 Earnings Call Transcript