Combitech accelerates the development of a smart and resilient society. Building total defence capabilities, to safeguard our everyday lives, is urgent. The defence industry is accustomed to quickly adapting to ongoing events in the world – which is reflected in Combitech's quarterly report where the defence segment has grown during the second quarter of the year. In line with this, customer assignments for the defence industry and the Swedish and Finnish Armed Forces increased during the period. However, the Swedish civil defence is not advancing as rapidly. Part of this can be explained by the fact that there is a great deal of uncertainty about how the private sector can contribute. This was a primary finding of the Total Defence report, a survey published by Combitech this quarter among Swedish companies.

“Society needs to plan and build both civil and military resilience to deter threat actors and reduce vulnerability. The defence industry is used to adapting its operations through both innovation and new technologies - an ability and experience that can also be used in the civil defence. Therefore, I see it as extremely important that the private sector is more involved and that we increase collaboration between the private and public sectors both locally, regionally and nationally”, says Jessica Öberg, CEO of Combitech.

Important events during the period April-June 2024: 

• Several extended agreements for the Swedish Armed Forces (FM) and the Swedish Defence Materiel Administration (FMV), including: Swedish Armed Forces Technical Support Ground Sensor, with the assignment to maintain the technical lifespan of components within the system, 120 MSEK until 2027-04-15. 
  Framework Agreement ISD (Information Security Declaration) and Accreditation, won area 3 Auditing roles, alone in the area, capped at 200,000h, up to 7 years (with options).
   

• Framework agreement with the Swedish Civil Contingencies Agency (MSB) in the area of “Consultant services information and cyber security”. 
   
• Management consulting contract with Sinfra (the purchasing centre for municipalities, regions and municipal companies), with a total estimated value of 250 MSEK, capped at a 300 MSEK spread over a maximum of four years. The agreement aims to developing, streamlining and improving Sinfra's members' operations. 
   
• Assignments in the field of cybersecurity and a new customer for Combitech's Security Operation Center (SOC). 
   
• For the second year in a row, the Total Defence Report was released, produced by Demoskop on behalf of Combitech. The report shows that Swedish companies are still not prepared enough for crisis or war but are moving in the right direction. 
   
• Further strengthening of Combitech's offering with inhouse expertise based in Hyderabad, India. The focus of the operations includes engineering and supporting services in the fields of mechanical design, stress analysis, embedded software development, production engineering and technical publications. 
   
• To meet growing demand in the defence and industrial segments, Combitech is focusing its operations on Sweden and Finland. As a consequence of the new strategic direction, the Norwegian operations, Combitech AS, with around 20 employees, were acquired by Telenor Cyberdefence in the beginning of July.

Key figures for April-June 2024

(Q2 2023 comparative figures in brackets) 

Sales: 1,082 MSEK (1,023 MSEK) 

Operating margin: 8.6% (7.3%) 

Operating cash flow: 112 MSEK (–47 MSEK) 

Number of employees at the end of the second quarter: 2,382 (2,239)

For further information, please contact:

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

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