Reports

Ework Group AB (publ) publishes Year-End Report, January – December 2021: Best Q4 and full-year results so far

2022-02-10

“Ework finished the year 2021 with yet another record quarter with higher net sales, higher EBIT and more consultants on assignment than ever before. Ework has strengthened its position on the market and demand for consultancy services remains high. The timing is favourable for me to take over the role as CEO and I look forward to leading Ework’s continued development.”

From Karin Schreil’s CEO-statement

Fourth quarter 2021 compared to 2020

· Net sales increased by 19 percent to SEK 3,862 M (3,238). The increase is due to a significant increase in customer demand and successful sales to existing and new customers.
· EBIT increased by 147 percent to SEK 42.3 M (17.2) following an increase in sales, cost savings and a larger share of high-margin business.
· Profit after financial items increased by 190 percent to SEK 41.3 M (14.2).
· Order intake increased by 31 percent to SEK 7,897 M (6,047).
· The number of consultants on assignment reached a new record level of 11,827 (10,020).
· Earnings per share after tax before and after dilution amounted to 1.92 (0.66), an increase by 189 percent.
· Karin Schreil began in her role as CEO of Ework on November 15, 2021.

Full year 2021 compared to 2020

· Net sales increased by 8 percent to SEK 13,189 M (12,238).
· EBIT increased by 34 percent to SEK 126.8 M (94.3).
· Profit after financial items increased by 46 percent to SEK 124.3 M (84.9).
· Earnings per share after tax before dilution amounted to 5.68 SEK (4.02) and after dilution 5.67 SEK (4.02), an increase by 41 percent.
· The Board will propose a dividend of 5.00 SEK per share at the annual general meeting.
· The company is expected to increase growth of net sales and increase EBIT-margin during 2022, given the current market outlook.

Events after the reporting period

After the reporting period, Klas Rewelj was appointed new CFO, effective as of 1 February 2022.

The complete year-end report is available via link below or at www.eworkgroup.com

For further information, please contact:

Karin Schreil, CEO, phone: +46 (0)70 794 58 83, E-mail: karin.schreil@eworkgroup.com
Klas Rewelj, CFO, phone: +46 (0)70 626 54 24, E-mail: klas.rewelj@eworkgroup.com   

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 has close to 12,000 consultants on assignment. Ework’s head office is in Stockholm. Its shares are listed on Nasdaq Stockholm.

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 08:00 a.m. (CET) on 10 February 2021 by the authority of the CEO. This year-end report has not been reviewed by the company’s auditor.