Report

eWork Scandinavia AB (publ) announces Interim Report, January - June 2014

2014-07-25

"Highlights of the second quarter include continued growth in order intake and net sales, positive progress in Denmark and a significant framework agreement with ABB Sweden regarding delivery of engineering consultants. Profit continues to improve and is now in line with last year’s figure, despite far-reaching initiatives aimed at winning new, large customer assignments".

Abstract from the Commentary of the President and CEO, Zoran Covic

Second quarter 2014 compared with 2013

• Net sales increased by 27% to SEK 1,179.3 million (931.8).

• Operating profit increased by 1% to SEK 12.6 million (12.5).

• Order intake was SEK 1,592 million (1,226), up 30%.

• Profit after tax per share was SEK 0.57 (0.55), the same amount before and after dilution.

• The market continued to recover and eWork’s demand indicators were positive.

• eWork signed a significant collaboration agreement with ABB Sweden regarding engineering consultants, which is expected to increase the Group’s net sales by 10-15% in 2015.

First half-year 2014 compared with 2013

• Net sales increased by 21% to SEK 2,283.0 million (1,886.0).

• Operating profit decreased by 5% to SEK 26.0 million (27.3).

• The sales mix included a higher share of outsourcing and takeover contracts which, alongside business development costs for the start-up of new MSP contracts, explains the lower operating margin.

• eWork judges that it won market share on a slightly growing market.

For further information, please contact:
Zoran Covic, President and CEO, 46 (0) 706 65 65 17, zoran.covic@ework.se
Magnus Eriksson, deputy CEO and CFO, 46 (0) 8 50 60 55 00, 46 (0) 733 82 84 80, magnus.eriksson@ework.se

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