- Sweden edition
- Change edition:
- France |
- Germany |
- Norway |
- Switzerland
February 14, 2012
Saab turns profit after 2009 crisis
Published: 27 Jul 10 16:26 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/28026/20100727/
Crisis-hit carmaker Saab Automobile turned a profit of 3.9 billion kronor ($531 million) in 2009, but only thanks to deals with its creditors and a deal to sell equipment to a Chinese automaker, according to the company’s annual report, released on Tuesday.
- Spyker completes Saab payment (5 Jul 10)
- Spyker chief promises new life for Saab (2 Jun 10)
- Saab unveils new Saab 9-5 to journalists (31 May 10)
The number of cars sold fell from about 93,000 to just 38,756. This led turnover to fall 61 percent to 6 billion kronor.
“2009 was not a normal year. Saab went in and out of a reconstruction phase. 75 percent of the debts were written off and we sold tools to BAIC. The annual report has limited relevance, as it does not show Saab’s global results,” the company’s head of information Eric Geers told Dagens Industri.
Last Christmas almost saw the end of sixty years of car production by Saab, when General Motors announced it was starting to wind down the company. Saab was only saved when a last-minute bid by Spyker was accepted by the US giant.
What do you think? Leave your comment below.
Fark It!
Digg This
Share everywhere
Send to a friend
Printable version
Twitter This
Swedish recruiters check jobseekers on the net
40 percent of recruiters are checking potential employee’s social networking pages during the hiring process, a figure which has shot up from last year, according to a recent report. READ (1 COMMENT) »
Rise in polls 'Löfven-effect': political expert
Since the new Social Democrat party leader Stefan Löfven took up the post, the party is gaining strength in the polls, causing political experts to speak of a ”Löfven-effect”. READ »
Saab shares dive despite strong 2011 report
Swedish defence group Saab on Friday reported a major boost in earnings for 2011 thanks to winning several major contracts, but a drop in orders left investors jittery, sending Saab's stock price down nearly 10 percent. READ (3 COMMENTS) »
Mats Sundin in massive kid's health research gift
Mats Sundin, the ex-Swedish hockey great, has made a donation supporting research into children's health at Karolinska Institutet in Stockholm and the University of Toronto. READ (5 COMMENTS) »
H&M under fire over Cambodia mass faintings
H&M has been criticized for choosing not to attend a hearing to highlight poor conditions for textile workers in Cambodia, where hundreds of employees at a plant run by the Swedish fashion giant mysteriously passed out in August. READ (6 COMMENTS) »
SAS earnings hit by Spanair bankruptcy
The bankruptcy of Spanair pulled SAS into the red for 2011, despite improved operating profits, the Scandinavian airline reported on Wednesday. READ (2 COMMENTS) »
Saab to cut Swiss Gripen fighter price: report
Swedish defence group Saab have announced that it will cut the price on its Gripen fighter jet to secure its Swiss order after a threat by French planemaker Dassault to undercut them. READ (6 COMMENTS) »
Few Swedes ready to work until they're 75: poll
An overwhelming majority of Swedes disagree with Swedish prime minister Fredrik Reinfeldt's suggestion that workers should be ready to stay on the job until they are 75, a new poll shows. READ (34 COMMENTS) »
Several bids for Saab: administrator
Several companies are interested in buying Saab, confirmed the bankrupt Swedish carmaker's administrators on Tuesday, while currently unwilling to disclose the identities of the bidders. READ (2 COMMENTS) »
US ISPs block hacker probes: Swedish police
The Swedish National Police Board has called for new international laws to catch hackers on the internet, after US internet service providers refused to divulge information on the weekend's attack on government websites. READ (5 COMMENTS) »
- 06/02 Fire brigade slammed for 'renting out' rooms (2 comments) »
- 03/02 New bidder in the Saab saga shows its hand (8 comments) »
- 03/02 Volvo group announces record sales for 2011 »
- 03/02 TeliaSonera reports profit drop for 2011 »
- 02/02 Electrolux profits plunge amid weak demand »
- 02/02 AstraZeneca job cuts hit Södertälje hard (7 comments) »
- 02/02 Europe's banks set for years of 'shrinkage': Borg (2 comments) »
- 01/02 'Underclass-safari' post lands official in trouble (1 comment) »
- 01/02 Supreme Court denies Pirate Bay right to appeal (10 comments) »
- 31/01 ABB irked by link to Norwegian killer (2 comments) »
20 things to know before moving to Sweden
As diverse as Sweden is, there are a few societal norms that are distinctly Swedish. Understanding a handful of them will hopefully prepare you culturally before you relocate. When you're invited home to a Swede, you better be on time and take your shoes off, writes expat Lola Akinmade-Åkerström. Read more »
How far can English take you in Sweden?
Sweden is a country where almost everyone can speak English. So why bother to learn Swedish? Edina Varnagy from Hungary managed with English for a whole year but then found that Swedish could open doors – to a job, a social life and greater understanding. Read more »
| 13/02 | adidas Group is now searching for a new Back office Sales Support adidas Group |
Stockholm |
| 13/02 | Build Manager EA DICE |
Stockholm |
| 13/02 | Sales and Business Development Managers, DK (CPH), NO (Oslo), SE (Stokholm) and FI (Helsinki) Target Headhunting ApS |
Stockholm |
| 13/02 | Marketing Campaign Manager Ascom |
Göteborg |
| 13/02 | Risk agent to Klarna's new team, Payment Operations Klarna |
Stockholm |
| 13/02 | Computer Support Specialist European Spallation Source ESS AB |
SKÅ |
| 13/02 | YOUNG TALENT PROGRAM - AUTOMATION ENGINEER FOOD PROCESSING Tetra Pak |
Lund |
| 13/02 | Manager Platform Program Purchasing Tetra Pak |
Lund |
| 13/02 | Inside Sales Assistant TEMP-TEAM |
Upplands Väsby |
| 13/02 | Key Account Manager Food Borregaard |
Sarpsborg |
- 13/02 Deutsche Bank 'to pay €800 mln' in Kirch case »
- 13/02 Greece leaving the euro not so scary - Germans »
- 10/02 Berlin defies EU over copyright deal »
- 10/02 Germans don't trust Greece to tighten belt »
- 09/02 Tourists flock to Germany in 2011 »
- 09/02 Daimler books record €6-billion profit »
- 08/02 Exports top €1 trillion despite euro crisis »
- 08/02 GM threatens major job cuts at Opel »
- 07/02 Court caps Jewish ghetto pension claims »
- 06/02 Industrial orders rise amid eurozone gloom »
- 05:35 Skattereduktion after buying an apartment
- 00:31 What does that mean?
- 00:27 Baseball in Gothenburg?
- 23:26 Pop tarts in Stockholm
- 23:19 Had problems with my boyfriend
- 23:09 Working with no knowledge of Swedish?
- 22:46 Tax deductible for rented property
- 21:04 Which song are you currently listening to?
- 20:45 Should I ask her on a date or not?
- 20:10 Irish Girl has just moved to Sweden!
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
British-Australian Male Counsellor. Counselling Therapy for Depression, Mental Health, Sex, Relationship & Expat Issues
08-559 22 636 or CLICK HERE
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Therapy in English in Stockholm Trained in California Individuals & Couples (08) 93 81 48 FREE phone consultation
Visit anxiousorblue.se
The new Online Tennis Store with the largest selection of Babolat Products in Sweden
http://www.babolatshop.se
Turning Point Counselling centre offers the international community of Stockholm a safe space for personal development, counselling and coaching.
http://www.turning-point.se/show.asp
Swedish Down Town PR Consulting and Productions is an innovative business company which provides valuable assistance with Public Relations and Communications in the swedish and the international market.
www.swedishdowntown.com
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
Keep up the good work for 2010 / 11, don't worry so much about 2012 because you'll be wound up by then, taxpayer money is running out fast.
By comparison, Ford reported an operating loss of US$14.6B (137B SEK!!!) in 2008 and they weren't winding themselves down, acting like they were or being treated by the market as a company that was about to go under!!
"... their engineers and line workers suck.."
I am surprised by your comment. I agree that it may be impossible to make affordable cars in Sweden but I have driven few Saabs and they are nice cars.
In Saab they use some of the most advanced methods in auto manufacturing. from advanced use of computer simulation to advanced prototype manufacture. What exactly has made you so disappointed with SAAB?
Is that all you can think about? taxpayer money taxpayer money taxpayer, you guys sound like a scratched CD.
Why? Because if not, the consucuenses for tye whole country (including you) would've been quite bad.