- Saab Automobile Parts AB shows an increase in sales during the first quarter compared with the same period in 2012
- Net sales increased by 24 percent and operating profit amounted to kSEK 35,964
- The company continued to expand its business during the period by starting subsidiaries in Norway and Finland and has also strengthened the network of Authorized Repairers
“We see a strong start to the year in which sales exceeds the first quarter last year and net sales has increased by 24 percent. We can now see that the structure we have built up starts to show results. In 2012, we had a clear focus on bringing stability to the organization and to set up a structure in the markets where we now have established subsidiaries in ten of our major markets. Our network of Authorized Repairers have also been strengthened during the period, says Lennart Stahl”, CEO of Saab Automobile Parts AB.
Net sales increased for the first quarter to kSEK 254,338 (204,854) and the Group reported an operating profit of kSEK 35,964 (37,096). The North American market accounts for the biggest part of the Group’s sales increase, because sales in this market could not accelerate until after the establishment of a subsidiary late in the second quarter 2012.
“A large portion of our sales are in the UK and the U.S., which along with Sweden are our main markets, and there has been a negative currency development between SEK and USD/GBP during the period. The Group has had significant sales but no major purchases in USD and GBP, and this affected the operating profit negatively despite the higher sales. We have invested in establishing a stand-alone business, including for example subsidiaries and IT systems, and this structure of course impacts the cost base, but also enables us to develop and diversify our business with new business ideas and concepts in accordance with the business plan”, says Lennart Stahl.
As an independent subsidiary, Saab Automobile Parts AB remained outside the bankruptcy process for the vehicle manufacturing company Saab Automobile AB. The company has continued to serve the global network of approximately 1,200 distributors and authorized Saab Authorized Repairers in more than 60 countries with Saab Genuine parts, accessories and technical support. The company is owned by the Swedish state since December 2012.