Mega-deal updates ahead of Q2 report

研报英文原文证据摘录

Mega-deal updates ahead of Q2 report

SAAB

Company description Risks

Saab is a Swedish defence company with a portfolio As a defence company, Saab faces significant risks pertaining

encompassing fighter, underwater, advanced weapon, sensor, to regulation, political influence, and military spending policies.

and command and control systems. As a defence company, Furthermore, Saab's business is primarily one of big projects

Saab's primary customers are the nations of the world. with long timelines, where the accounting for sales and profit

Sweden is still Saab's main market by a substantial margin, depends on significant estimates, and cash flow is volatile.

but the company aims to grow its share of exports through a The business is also investment intensive, with a high portion

multi-domestic strategy focusing on the key markets of the of revenue spent on R&D and capex, which is a prerequisite in

U.S., the U.K., Australia, and Germany. Despite its focus on a highly competitive industry where technological superiority

these key markets however, the company still gets a large can mean the difference between life and death for the

portion of its revenues from other nations globally. customer.

Sustainability information

Annual sales, order intake and margins Cash flow conversion and return on capital

Source: ABG Sundal Collier Estimates, Company Data Source: ABG Sundal Collier Estimates, Company Data

Annual adj. EBIT by segment Historical consensus peer median P/E premium/

discount

Source: ABG Sundal Collier Estimates, Company Data

Source: ABG Sundal Collier, FactSet Estimates

Historical consensus P/E DCF deviation table

Source: ABG Sundal Collier Estimates

Source: ABG Sundal Collier Estimates, FactSet Estimates

7 July 2026 ABG Sundal Collier 2