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10 February 2016

Saab: "We Are the Only Ones Building a Brand-New Submarine"

During a press and analyst meeting, where Saab CEO Håkan Buskhe and CFO Magnus Örnberg present the 2015 year-end results, Bushke sees a need of 50 submarines around the world, which include opportunities in Poland, Norway, the Netherlands, Canada, and more, which he would not comment on. Saab is working hard on on these, according to the CEO, as, "we are the only ones building a brand-new submarine," he said.

At year-end, the order backlog amounted to SEK113,834 million, which is more than four times annual sales. During 2015, Saab received several large orders, including GRIPEN for Brazil, the submarine A26 for Sweden, and an airborne surveillance system for the United Arab Emirates (UAE). Cash flow was positively impacted by milestone payments related to GRIPEN for Brazil and the submarine A26 for Sweden.

In 2015, Saab has signed a contract with the Swedish Defence Materiel Administration (FMV) for the construction of two new Type A26 submarines (total order value of SEK7.6 billion), with a very solid proposal from the customer (Swedish Navy). During the press conference, Buskhe said deliveries of the A26 next generation submarines are expected 2022-24, and that they currently are in full production.

On design the company said in earlier interviews: “Saab will deliver world-class submarines to Sweden. Our ability to work closely with customers, to meet their needs with modern manufacturing and products, is one of Saab’s greatest skills. Saab is also exploring export opportunities to provide complete submarine systems to a select number of countries, plus subsystems across the wider market. The A26 will be a unique and high-tech submarine with proven modular design, which gives the platform a high level of availability at a low life-cycle cost. The submarine will have long-endurance submerged performance and excellent manoeuvrability in all waters. Safety is paramount and A26 will be highly survivable thanks to modern underwater stealth technology and a unique heritage of shock resistant design. It is a privilege to lead this development.”

The submarines will be powered by conventional diesel-electric propulsion machinery and equipped with the Kockums Stirling AIP (air-independent propulsion) system. The Stirling system will make the Type A26 very stealthy and difficult to detect.  The submarines will be designed and constructed at Saab’s facilities in Malmö, Karlskrona, Järfälla and Linköping, Sweden.