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

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“Very largely, the third quarter featured strong profit performance and eWork’s move into the engineering consultant segment. The start-up of our new MSP deal with ABB Sweden is a major undertaking, where we’ve now made a positive start to consultant deliveries. Simultaneously, sales and order intake were up by 34%.”

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

Third quarter 2014 compared with 2013

  • Net sales increased by 34% to SEK 1,041.9 million (775.8).

  • Operating profit increased by 80% to SEK 10.8 million (6.0).

  • Order intake was SEK 1,138 (845), up 30%.

  • Profit after tax per share after dilution was SEK 0.48 (0.28).

  • eWork commenced a large-scale collaboration with ABB Sweden, and secured new framework agreements from Kammarkollegiet (the Swedish Legal, Financial and Administrative Services Agency) and the City of Gothenburg.

  • Market seasonality was unusually protracted after the summer, but was offset by a brisk conclusion to the quarter. eWork’s demand indicators continue to point towards a cautious positive tendency for the remainder of the year.

First nine months 2014 compared with 2013

  • Net sales increased by 25% to SEK 3,324.9 million (2,661.9).

  • Operating profit increased to SEK 36.7 million (33.3).

  • Profit per share after dilution was SEK 1.67 (1.52).

  • eWork judges that it continued to win market share throughout the period, mainly because of growth on MSP contracts, but also due to a higher transaction frequency on competitive tenders.

The information disclosed in this report is mandatory for eWork Scandinavia AB (publ) to publish pursuant to the Swedish Securities Markets Act. This information was submitted for publication at 08:00 a.m. (CET) on 24 October 2014.

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

eWork Scandinavia AB (publ) is a complete consultant supplier with over 4,000 consultants on assignment within the fields of IT, telecoms, technology, and business development. eWork offers an objective selection of specialists from the largest consultant network on the market with over 65,000 consultants, offering clients better pricing, quality and time efficiency. eWork has framework agreements with more than 140 clients among the Nordic region’s leading companies active in most sectors. The Company’s share is listed on NASDAQ OMX Stockholm.



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