Combitech strengthens its position as a strategic partner to the industry sector

22 October 2024

During the third quarter, Combitech, the Nordic tech, solutions and consulting partner, continued to strengthen its position in the industrial sector. With high demand and organic growth of 8 per cent and an operating margin of 10.4 per cent, Combitech is positioning itself as a key player in the market.

Jessica Öberg, CEO

The ongoing turmoil in the world has continued to place focus on total defence during the third quarter. Digitalisation is a pivotal component for both total defence and the competitiveness and resilience of the industry. During the year Combitech presented another insight report, Smart and Secure Industry 2024, which examined the level of digitalisation in the Swedish manufacturing industry. The report's conclusions make it clear that digitalisation must be prioritised as a business strategy to develop businesses and strengthen competitiveness and resilience.

"We see a strong innovation force in Sweden, but we need to be better at handling digitalisation and contingency planning as a management and strategy issue. Small- and medium-sized companies, together with large companies, are crucial to keep society going both in peacetime and during crises. Combitech is meeting this demand by continuing to develop its offering in smart industries and total defence," says CEO Jessica Öberg.

During the quarter, Combitech reported strong financial results with organic sales growth in all units. In addition, the company has achieved profitability growth that exceeds sales growth in all Swedish units, underlining its strong position in the market.

Important events during the period July-September

During the quarter, Combitech, together with Saab, entered into a new collaboration with FMV to digitalise the Swedish Armed Forces' ground forces.
Alstom Transport AB has signed a service agreement with Combitech regarding engineering services in the field of cyber security.
BAE Systems Hägglunds and Combitech have deepened their partnership, as Combitech assists Hägglunds with prototypes and verification.
Combitech has been re-trusted by Svenska Kraftnät regarding agreements in civil crisis preparedness to further develop and manage systems for collaboration and management.
During the quarter Telenor Cyberdefence acquired Combitech's operations in Norway. The divestment had a positive impact on Combitech's operating profit of SEK 18 million during the quarter.
Combitech is further strengthening its offering with its own expertise based in Hyderabad, India. A newly formed company, wholly owned by Combitech, will concentrate on engineering and support services.
During the quarter, 170 new employees started.

Key figures for July-September 2024

(comparative figures Q3 2023 in brackets)

Sales: SEK 877 million (SEK 816 million)

Profit: Operating profit, EBIT SEK 91* million (SEK 43 million)

Operating margin: 10.4% (5.3%)

Operating cash flow: SEK -20 million (SEK -36 million)

Number of employees at the end of the third quarter: 2,440 (2,245)

* The sale of Combitech AS (Norway) had an extraordinary positive impact on operating profit of SEK 18 million in the quarter.

For further information, please contact:

Ulrica Matsers, Head of communications and Marketing, Combitech

Tel: 0734-46 00 70, E-post: ulrica.matsers@combitech.com

Merton Kaplan, Head of Investor Relations, Saab

Tel: 0734-18 20 71, E-post: merton.kaplan@saabgroup.com

Press Release Article News

Ulrica Matsers

Head of Marketing & Communications

ulrica.matsers@combitech.com

+46 (0) 734 46 00 70

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