Report

Ework Group AB (publ) publishes Interim Report, January – June 2021: Best Q2 earnings to date

2021-07-16

“Ework is reporting its best second quarter ever after a vigorous recovery on the consulting market. The positive revenue and profitability trend accentuated, and by June, the firm had nearly 11,000 consultants on assignment, the highest number ever. In the quarter, Verama surpassed 70,000 digitally processed tenders. After the pandemic-related downturn of 2020, we’ve now bounced back above 2019 levels, and earnings are the best to date for a comparable period. Accordingly, Ework has emerged stronger from the pandemic."

Extract from CEO Zoran Covic’s commentary to the Interim Report.

Second quarter 2021 compared to 2020

· Net sales increased by 7% to SEK 3,347 M (3,121). The increase is due to a significant increase in customer demand and successful sales to existing and new customers.

· EBIT increased by 12% to SEK 33.4 M (29.9) following an increase in sales, lower expenses and a larger share of high-margin business.

· Profit after financial items increased by 22% to SEK 31.1 M (25.5).

· Order intake increased by 25% to SEK 5,038 M (4,026).

· The number of consultants on assignment reached a record level of 10,961 in June. The previous record of 10,731 was achieved in December 2019 prior to the corona pandemic.

· Earnings per share after tax before and after dilution were SEK 1.41 (1.18), an increase by 19%.

· In June, Karin Schriel was announced as the new CEO of Ework Group AB and she will begin in December.

First half-year 2021 compared to 2020

· Net sales decreased by 0.3% to SEK 6,512 M (6,534).

· EBIT increased by 5% to SEK 61.0 M (58.3).

· Profit after financial items increased by 13% to SEK 59.7 M (53.0).

· Earnings per share after tax before and after dilution were SEK 2.70 (2.49), an increase by 8%.
 

The complete Interim Report is available via link below or at www.eworkgroup.com
 

For further information, please contact:

Zoran Covic, CEO, 46 (0) 706 65 65 17, E-mail: zoran.covic@eworkgroup.com
Ola Maalsnes, CFO, 46 (0) 8 50 60 55 00, 46 (0) 738 68 22 90, E-mail: ola.maalsnes@eworkgroup.com

 

The information disclosed in this Interim Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU’s Market Abuse Regulation (MAR) and the Securities Market Act of Sweden. This information was submitted for publication at 09:40 a.m. (CET) on 16 July 2021, through the agency of the CEO.

About Ework

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 company has framework agreements with over 170 leading corporations in most sectors, and approximately 11,000 consultants on assignment. Ework’s head office is in Stockholm. Its shares are listed on Nasdaq Stockholm.