Interim report, January – June 2018: Strong order intake and increased growth
“Ework continued to progress as planned in the second quarter. Again, sales and order intake were in healthy growth, and our EBIT improved year on year. Growth is still being driven by very high client demand. We have reached the final stage of an investment phase that we expect to make a progressive positive contribution to our earnings performance.”
Extract from CEO Zoran Covic’s commentary to the Interim report.
Second quarter 2018 compared to 2017
· Net sales increased by 20% to SEK 2,871 M (2,389).
· EBIT for the period was up by 8% to SEK 26.8 M (24.9).
· Order intake rose by 33%, and amounted to SEK 4,329 M (3,248).
· Earnings after tax per share after dilution were SEK 1.15 (1.12).
· The consulting market remains strong, with healthy demand for consultants, in basically all skills segments where Ework operates.
· Ework is reiterating the outlook for 2018 communicated in the Year-end Report for 2017.
First half-year 2018 compared to 2017
· Net sales increased by 15% to SEK 5,494 M (4,778).
· EBIT for the first half-year was SEK 49.3 M (52.3).
· Earnings after tax per share after dilution were SEK 2.12 (2.33).
The complete Interim 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
Magnus Eriksson, deputy CEO and CFO, 46 (0) 8 50 60 55 00, 46 (0) 733 82 84 80
Ework Group is a market-leading and independent consultant provider operating in northern Europe, which focuses on IT, telecom, technology, and business development. Without having consultants employed, Ework can impartially match every assignment with the right competence from the whole market. Ework was founded in Sweden in 2000, and is now active in Sweden, Denmark, Norway, Finland and Poland. The firm has framework agreements with over 170 leading corporations in most sectors, and over 9,000 consultants on assignment. Ework’s head office is in Stockholm. Its shares are listed on Nasdaq Stockholm.
This Report has not been subject to review by the company’s auditor. The information disclosed in this Interim Report is mandatory for Ework Group AB (publ) to publish pursuant to the Swedish Securities Markets Act and the EU’s Market Abuse Regulation (MAR). This information was submitted for publication at 1:00 p.m. (CET) on 19 July 2018, through the agency of the above senior managers.