Interim report January – March 2011
January – March
- Sales reached SEK 382.1 million (410.1)
- Impairment loss of SEK 16 million for customer relationship
- EBITDA totalled SEK 29.8 million (21.6)
- EBITDA margin of 7.8% (5.3)
- EBIT totalled SEK 2.9 million (8.7)
- EBIT margin of 0.8% (2.1)
- EPS of SEK -0.02 (0.11)
Improved profit on an improved market
First quarter sales amounted to SEK 382.1 million (410.1) with an improved operating EBITDA of SEK 29.8 million (21.6), giving a margin of 7.8% (5.3). We have strengthened our equity/assets ratio to 61.9% (54.6) and secured our financial position by renegotiate our loan agreement. We face an increasingly favourable market and are having interesting business discussions for major undertakings with many new customers. The business climate looks better in all our operations in Sweden, where in March we reached the same levels as before the recession.
The new organisation in Sweden, which has been operational since the beginning of the year, is delivering according to plan. We have integrated administrative systems, and the nationwide business areas have high ambitions. We are strengthening our position in the public sector as well as in media, energy and industry segments in the Finnish market. Our goal is to improve profitability and we will continue to optimise our structure and reduce our cost base.
We have strong core offerings that cover the entire ecosystem surrounding communication services and our ability to act as a catalyst from telecom to other industries. Together with our global delivery model, this is our primary competitive advantage. In some key areas, such as in the security field, we can grow advantageously. We should also be far bigger in certain geographic markets. In Sweden, our focus is on recruitment.
I am very pleased that the company can pay dividends for 2010, and I consider Cybercom’s circumstances for 2011 to be good. We have consolidated our operations to create a more uniform focus and to clarify our offering. The Nordic market, where Cybercom has most of its operations, is good. We have the financial flexibility to simultaneously manage the challenges we face in Finland and our desire to grow. With a continued focus on profitability, we are building an international Cybercom for long-term business.
Stockholm, 28 April 2011
President and CEO
For more information, please contact:
Patrik Boman, president and CEO +46 73 983 89 79
Odd Bolin, CFO +46 70 428 31 73
Kristina Cato, IR and communications director +46 70 864 47 02
The Cybercom Group is an IT consultancy that offers global sourcing for local and international deals. The Group is a recognised supplier in security, internet and mobile services, embedded systems, and telecom management. Thanks to its extensive industry and operations experience, Cybercom offers strategic and technical expertise in telecom, industry, media, the public sector, retail, and banking and finance. Cybercom’s consultants operate around the world, and the company has 25 offices in 10 countries. Cybercom was launched in 1995, and its share has been quoted on the NASDAQ OMX Nordic Exchange since 1999.