Comment on events from Thursday, April 28

Vladimir Antonov

Yesterday the Swedish NDO allowed Vladimir Antonov as shareholder in Spyker, which means that he can become a financier of Saab Automobile if the Swedish government, GM and the EIB also give their approval.

Saab and Spyker are working on many different fronts to secure funding in the short and medium term. Negotiations with various, potential strategic partners, including the Chinese car manufacturers will continue.

Spyker reports Q1 results

Today Spyker presents the first quarter report for 2011. Since Saab Automobile is a major part of Spyker’s results, the major focus in the report is on Saab. Spyker Cars (including Saab Automobile) reported an EBIT of (79.4) million Euro. The report underlines the fact that 2011 is another buildup year for Saab, and Saab assumes a loss for the full year as well. Note that the events of the recent weeks are not covered by the report, as it focuses on the first three months of this year. The first quarter can be summarized as challenging but also showed encouraging sales development.

The report is available here.

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