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Investing.com -- Saab (ST:SAABb) reaffirmed its medium-term financial goals ahead of its Capital Markets Day, which takes place Tuesday in Karlskoga.
The Swedish defense group said it continues to see “strong future growth opportunities” and maintained its targets for the 2023–2027 period, which were last updated in February.
The company is aiming for an average annual organic sales growth of around 18%. It also expects operating profit to grow at a faster pace than sales, while targeting a cumulative cash flow conversion of at least 60% over the five-year period.
"Saab remains committed to being a leader in an uncertain geopolitical environment. We are continuing to scale up our operations and accelerate the development of future capabilities,” saids Saab CEO Micael Johansson.
“We are well positioned to capitalize on new market opportunities while delivering on our strong order backlog. This is a solid foundation for long-term growth and sustainable value creation," said.”
At the event, Saab plans to outline its core strategic priorities, which include expanding capacity through greater industrialization and automation, accelerating the development of future capabilities, and pursuing targeted market growth.