SaabsUnited.com

Swedish Automobile N.V., a holding company which produces and sells premium automobiles under the Saab and Spyker brands, today announced its interim results for the first half year 2011. Download the full report from the link after the jump!

The file is a 24 Page PDF File.

Extract from the report:

Victor R. Muller, CEO of the Group and CEO and Chairman of Saab Automobile, said: “It will come as no surprise that this has been an unbelievably tough quarter for this company. Nothing is worse than having to delay salary payments to your loyal employees and they deserve nothing less than my sincere apologies. Moreover, our ever tighter financial situation resulted in sustained production stoppages, lost revenues and a significantly increased operating loss. Our business plan is under review pending completion of funding negotiations and to reflect ventures with our future partners Pang Da and Youngman.”

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Things are still progressing, and the fact that details of it are reaching the newspapers, means that reading the tea leaves is getting easier and more defined. =)

Today Di.se thinks that the great investor for the bridge loan could be a big European bank. Many may say that the European Banks have enough problems staying afloat, but maybe not.

After the jump you can find the Google version of the di.se article.

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Kjell Heintz Bil AB is located in Åmål, about 100 kilometres north of Trollhättan. Our company is not a big one (11 employees) and like most other Saab-dealers in Sweden we are also selling Opel. Ever since the announcement of GMs decision to sell Saab, its fair to say that it has been anything but an easy ride for the brand or the dealers. To secure the growth and stability of our business financially we have therefore also added other brands.

Being a Swede one would expect a national pride for what the Swedish brands (Saab & Volvo) have contributed with to the automotive industry throughout history, and an understanding for the importance of ongoing research and development in this particular industry for the whole Swedish export industry. But no – for some strange reason, in Sweden, we seem to have a problem to recognize or support people or businesses that succeed. All of you Saab-lovers out there know exactly what I mean…….

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DI.se (original article here):

New money could be on the way into Saab. This would save Saab from the short term troubles of salaries and money demanded from the Enforcement Agency. Saab’s CEO Victor Muller is discussing a bridge loan with a potential investor. Read the rest of this entry →

Today the production line did run again, if only for a short while. Two brand new Saab’s rolled off the line during what was a test-sequence of the entire production line in the assembly plant.

The results have started to come in and so far the message is great news, almost everything worked perfectly.

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