Report

Interim Report, January - September 2013

2013-10-25

"eWork continued to encounter a hesitant market in the quarter. A less advantageous sales mix and expenses for continued aggressive initiatives caused fairly weak earnings. However, order intake was positive, and eWork did achieve some growth in this quarter too, thanks to our successes in business that consolidates our clients’ consultant delivery."

Claes Ruthberg, President and CEO

THIRD QUARTER 2013 COMPARED WITH 2012

• Net sales increased by 1 percent to SEK 775.8 million (768.8).

• Operating profit decreased to SEK 6.0 million (13.7).

• Order intake amounted to SEK 845 million (731), a 16 percent increase.

• Profit after tax per share after dilution was SEK 0.28 (0.62).

• New framework agreements signed on accounts including Telenor in Sweden, the Swedish Migration Board and Swedish local government organisation SKL in the period.

• New MSP (managed service provider) deal signed with NASDAQ OMX.

• Extension of current MSP agreement with Sony Mobile Communications, eWork’s largest client.

• The fairly weak quarterly earnings are a result of hesitant demand and expenses for continued aggressive initiatives.

FIRST NINE MONTHS 2013 COMPARED WITH 2012

• Net sales increased by 6 percent to SEK 2,661.9 million (2,515.8).

• Operating profit decreased to SEK 33.3 (43.6) million.

• Profit after tax per share after dilution was SEK 1.52 (1.93).

• Market demand remained hesitant, with relatively few new consultant appointments.

• eWork saw good demand for takeover business and MSP collaborations, which compensated for the effect of hesitant demand in volume terms.

• The growing share of MSP and takeover contracts in the sales mix, plus initial expenses associated with developing in these businesses explain the lower operating profit.

For further information please contact: 
Claes Ruthberg, CEO 46-70-3746475, E-mail: claes.ruthberg@ework.se
Magnus Eriksson, CFO, 46 733 82 84 80, E-mail: magnus.eriksson@ework.se