Ework Group AB (publ) publishes Interim Report, January – September 2019: Good growth, stronger positioning on a weaker market
“The trends we saw in the first half-year continued in the third quarter. Ework consolidated its market position with new business, while also noting a cyclical slowdown.”
Extract from CEO Zoran Covics commentary to the Interim Report.
Third quarter 2019 compared to 2018
· Net sales increased by 14% to SEK 2,702 M (2,370).
· EBIT was up by 3% to SEK 18.8 M (18.3).
· Order intake rose by 15% to SEK 2,743 M (2,390).
· Earnings per share after tax after dilution were SEK 0.77 (0.73), a 6% increase.
First nine months of 2019 compared to 2018
· Net sales increased by 15% to SEK 9,078 M (7,863).
· EBIT was up by 12% to SEK 75.9 M (67.6).
· Earnings per share after tax after dilution were SEK 3.11 (2.85), a 9% increase.
As stated in previous quarterly reports, Ework considers that the somewhat weaker market means that achieving its growth target for EPS for 2019 will be more challenging than expected. As a weaker market has been confirmed in the third quarter, the previously announced target to increase earnings per share by 20 percent in 2019 will not be reached.
The complete Interim Report is available via link below or at www.eworkgroup.com
For further information, please contact:
Zoran Covic, President and CEO, +46 706 65 65 17
Ola Maalsnes, CFO, +46 8 50 60 55 00, +46 73 868 22 90
The information disclosed in this Interim 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 22 October 2019. The Interim Report has been reviewed by the company’s auditor.