SAABY - Saab AB (SAABF) Q1 2024 Earnings Call Transcript
2024-04-26 11:43:10 ET
Saab AB (SAABF)
Q1 2024 Earnings Conference Call
April 26, 2024, 04:00 ET
Company Participants
Merton Kaplan - Head, IR
Micael Johansson - President, CEO & Director
Christian Luiga - Deputy CEO & CFO
Conference Call Participants
Sam Burgess - CITI
Henric Hintze - ABG Sundal Collier
Bjorn Enarson - Danske Markets
Sash Tusa - Agency Partners
Aymeric Poulain - Kepler Cheuvreux
Tom Guinchard - Pareto Securities
Presentation
Merton Kaplan
Good morning, everyone, and welcome to Saab's first-quarter 2024 earnings presentation. With me here today in the studio, I have the company's President and CEO, Micael Johansson; and Chief Financial Officer, Christian Luiga.
Before we start to the presentation, I would like to highlight that you can find this material on the Investor Relations section of the website. [Operator Instructions].
I would like to now turn to you, Micael.
Micael Johansson
Thank you, Merton, and good morning, everyone, and thanks for joining this call for the Q1 report 2024.
Let's start by looking at a few highlights of this quarter. In summary, this has been a strong quarter with high interest in the market and big demand. And you can see that in the order intake, that is almost SEK18.5 billion. And we also have been managing to grow the business, as you will see later on, 24% during the quarter, which is about high activity in our projects, of course, and we are progressing well with the capacity increases that we are doing.
We have employed more than 700 people net up this quarter. And our investments in new infrastructure capacity is progressing well also, of course.
And lots of things are happening around us. In EU, for example, we've seen -- in the last few weeks now, it's been -- a new European defense industry strategy tabled and also a plan to set up a fund called EDIP, European Defence Investment Plan, which will incentivize collaboration in Europe between countries and also companies, of course, to do common acquisitions, but also to develop things together, that will be really important to increase the capabilities and the turns in Europe.
And now finally, eventually, Sweden is part of NATO, and that is, of course, initiating a number of activities in terms of how that affect the company in many forms that we can take part in now to look at future capabilities that NATO will be needing. We're looking for the capability targets, which is about what is the Nordic countries going to manage in terms of the Baltic Sea, the Arctic perspective, the surveillance perspective in the Nordic region, and that will also going to affect us as a company going forward....
Saab AB (SAABF) Q1 2024 Earnings Call Transcript