Press Releases

Ework Group AB (publ) publishes Year-End Report, January – December 2019: Continued good growth and investments in digitalisation

2020-02-13

"We finished the final quarter of the year in sustained healthy growth. The start-up of our digital business helped to keep strengthening our market position."

Extract from CEO Zoran Covics commentary to the Year-end report

Fourth Quarter 2019 Compared to the Prior Year Period 2018

· Net sales increased by 12% to SEK 3,543 M (3,172).
· EBIT for the period was SEK 32.1 M (38.9).
· The decreased earnings are mainly due to higher expenses for investments in our digital platform, which reduced EBIT by SEK -13.0 M (-3.0).
· Profit after financial items was SEK 28.3 M (37.1).
· Order intake of SEK 6,267 M (5,776), a 9% increase.
· Earnings per share after tax after dilution were SEK 1.26 (1.73).
· Norway showed strong growth and increased profitability. Finland has returned to growth and healthy profitability, Poland is still progressing positively.

Full Year 2019 Compared to 2018

· Net sales increased by 14% to SEK 12,621 M (11,036).
· EBIT for the period increased by 1% to SEK 107.9 M (106.5).
· Our digital initiative reduced EBIT by SEK -37.7 M (-17.1)
· Profit after financial items was SEK 96.6 M (101.7).
· Earnings per share after tax after dilution were SEK 4.37 (4.58).
· Order intake of SEK 17,594 M (15,796), an 11% increase.
· The Board has decided to propose an unchanged dividend of SEK 4.50 per share (4.50) to the AGM.

The complete Year-end Report is available via link below or at www.eworkgroup.com

For further information, please contact:
Zoran Covic, President and CEO, 46 (0) 706 65 65 17
Ola Maalsnes, CFO, 46 (0) 8 50 60 55 00, 46 (0) 738 68 22 90

The information disclosed in this Year-end Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU Market Abuse Regulation. This information will be submitted for publication at 11:00 a.m. (CET) on 13 February 2020. This Year-end Report has not been reviewed by the company’s auditor.