Interim report January - September 2008
Sales +78% to SEK 1,296.9 million (730.5)
EBIT +83% to SEK 115.2 million (63.1)
Profit +88% to SEK 69.1 million (36.7)
Profit per share SEK 2.91 (2.90)
8.9% operating margin EBIT (8.6%)
11.0% operating margin EBITDA (9.8%)
UK operations is presented as discontinued operation
July - September
Sales +31% to SEK 388.7 million (296.4)
EBIT +33% to SEK 33.0 million (24.8)
Profit +40% to SEK 18.3 million (13.1)
Profit per share SEK 0.72 (0.99)
8.5% operating margin EBIT (8.4%)
10.6% operating margin EBITDA (9.7%)
Greater focus on profitability and on growth in Asia
“Times are challenging and there is considerable financial unease, but they are also very exciting. Cybercom is entering a new business phase with our current serious focus on growth in Asia. We are satisfied that we established Cybercom’s international expansion strategy early on. We follow our customers around the world and have a global presence that boosts our delivery capacity. Our Nordic operation forms a strong platform. We see favourable opportunities in the east, in terms of the local market and to strengthen deliveries. Our presence in India and China makes us suitably positioned for existing and new customers, who we know will invest heavily in these areas in the near future. We have won three important new outsourcing assignments for our operations in China, India, and Romania, which reiterates Cybercom’s strategy.
We greatly respect that our customers are introducing savings packages. Although these have no direct impact on our order flow at present, we want to ensure that we are appropriately equipped to face a tougher market, and we are therefore implementing various measures. We are coordinating administration and sales organisation in several Swedish units, streamlining our operation, and cutting the recruitment pace in the Nordics. The sale of the UK business was also a very good deal.
The prevailing market situation opens many doors for Cybercom’s global sourcing proposition. Cybercom combines local presence with global delivery capacity, keeping business-critical operations close to the customer, while relocating parts of production to low-cost countries. Many of our customers are market leaders and are now concentrating their investments on service development to cement their competitive strength. Such investments benefit Cybercom.
Cybercom is aptly positioned and we will continue to build the company in the long term in line with our strategy for growth, primarily in Asia and Eastern Europe. We look to the future with confidence.”
Stockholm, 21 October 2008
President and CEO