Jessica Öberg, CEO Combitech. Photographer: Peter Karlsson

Sweden's entry into the NATO defence alliance has influenced business dialogues and collaborations, which is reflected in deepened Nordic customer assignments within defence, defence industry, and preparedness authorities. Much of the work has focused on building a broad total defence capability, for example by contributing resilient solutions to defence, robust communication systems, power supply, and preparedness for hybrid threats.

In parallel, Combitech has continued to strengthen its position in the industrial sector, where digitalisation has been a central component for the competitiveness and development of the Swedish industry.

"Our growth and focus on innovation and digitalisation have strengthened our market position. A crucial factor is our dedicated employees, whose passion for developing a smart and resilient society is inspiring. It was evident when we gathered for Combitech's Superpower Summit one weekend in October – where we highlighted our values, employees, customers, and partners. Our internal surveys show that employees are happy and want to stay with us – and more and more people want to work with us. That makes me really proud! My colleagues and I look forward to continuing this positive development," says Jessica Öberg, CEO of Combitech.

Important events in 2024

• Combitech continues to deepen the long-term partnership with the Swedish Armed Forces (FM)/Defence Materiel Administration (FMV), including extending a 24-month agreement for the maintenance of communication equipment and commitments for technical support for ground radar. A framework agreement within ISD (Information Security Declaration) was signed, and together with Saab, Combitech entered a new collaboration with FMV to digitize FM's ground forces.
• New framework agreements with the Swedish Civil Aviation Administration (LFV) within crisis management/total defence and flight safety.
• Combitech and Patria have signed a delivery agreement regarding Combitech's software products SIROS and SAINT.
• Combitech deepens its long-term partnership with BAE Systems Hägglunds by assisting with subcontractor management.
• Won a framework agreement with the Swedish Civil Contingencies Agency (MSB) in the area of "Consulting services, information and cyber security framework agreement".
• Several new customers joined the Combitech Cyber Defence Centre offering during the year, based on our Security Operation Centre (SOC), incident management, and Threat Intelligence services.
• Won a framework agreement for management consultants with Sinfra (procurement centre for municipalities, regions, and municipal companies) with an estimated value of SEK 250 million over 4 years.
• Renewed trust from Svenska kraftnät (SVK) with an agreement within civil crisis preparedness to further develop and manage systems for collaboration and leadership.
• Combitech has entered into an agreement with Saab to design strategy and direction within software development.
• Combitech strengthened its offering with its own expert competence based in Hyderabad, India. A newly formed company, wholly owned by Combitech, was established and focuses on engineering and solution services.
• For the second year in a row, the Total Defence Report was released in May, conducted by Demoskop on behalf of Combitech, showing that Swedish companies still do not have sufficient preparedness for crisis or war. The report shows that preparedness work is moving in the right direction but too slowly. During the year, several knowledge-enhancing activities, lectures, and roundtable discussions were also conducted to build a broader total defence capability in society.
• To meet the demand within defence and industry, Combitech focused its operations on Sweden and Finland. The Norwegian business, Combitech AS, was sold to Telenor Cyberdefence in July. The sale resulted in a positive effect on the results amounting to SEK 18 million.
• Combitech continues to attract more employees to the total defence sector. The number of applications to Combitech Sweden has increased by 35 percent compared to 2023. The number of applicants per job has increased by 64 percent compared to 2023. In 2024, Combitech's common Engagement Index, eNPS, also shows a significant increase from 28 to 37.
  
  

Key figures for 2024

(comparison figures for 2023 in brackets)

Revenue: SEK 4,306 million (SEK 3,922 million)

Operating margin: 10,3% (8,7%)

Operating cash flow: SEK 532 million (SEK 387 million)

Number of employees at the end of 2024: 2 515 (2 316)

For further information, contact:

Ulrica Matsers, Head of Marketing and Communication, Combitech 
Phone: 0734-46 00 70, Email: ulrica.matsers@combitech.com

Merton Kaplan, IR Manager, Saab 
Phone: 0734-18 20 71, Email: merton.kaplan@saabgroup.com