Year-end report for 2006
Record year for Poolia – highest revenues and profits ever
Poolia’s sales revenues totalled SEK 1,221.1 M for 2006. The trend in all of Poolia’s markets was strong and all markets posted higher sales than in the preceding year. The Group’s organic growth totalled 21%. Poolia’s sales revenues during the fourth quarter amounted to SEK 332.0 M. The full-year operating profit was SEK 74.7 M, corresponding to an operating margin of 6.1% and to an improvement of SEK 107.3 M compared with the preceding year. The operating profit during the fourth quarter was SEK 18.2 M. During 2006, we continued to focus on reviewing Poolia’s international presence. We closed an office in Sweden during the year, as well as the Norwegian office. We are now focusing on expanding the current base in the Nordic countries and on expansion abroad, primarily by establishing new offices in the United Kingdom and Germany.
In order to adapt Poolia’s capital structure, the Board of Directors proposes a total dividend of SEK 2.50 per share (0.25), of which SEK 1.50 per share represents an extraordinary dividend.
Poolia Sweden continued its favourable trend during the fourth quarter, reporting a revenue increase of 36% and an operating margin of 12.3%. In total during the year, Swedish revenues amounted to SEK 689.8 M and an operating profit of SEK 72.0 M was posted, corresponding to an operating margin of 10.4%. The increased profit was due to a combination of strong demand, focused sales efforts and continued efficiency-enhancement measures. Poolia’s new business-support system was deployed in the Swedish operations during the fourth quarter.
The profitability trend in Finland and Denmark remained favourable during the fourth quarter. In total, the other Nordic countries segment grew by 25% and reported an operating margin of 0.2%.
In Germany, where we currently only have operation in Poolia’s core areas, healthy growth was noted during the fourth quarter. However, since the operations have yet to achieve a volume that is sufficient to carry all costs in Germany, an operating loss was again reported for this quarter. In total for the year, revenues from the core business in Germany rose 67%, but an operating loss was reported. At the beginning of 2007, a new office was opened in Cologne.
The performance of Poolia UK went in waves during the year. Following the strong third quarter, growth during the fourth quarter was weaker and an operating loss was reported. The operating loss was due largely to the new establishments at Canary Wharf and, around year-end, in Glasgow. In total for the year, UK operations grew by 11% and reported an operating margin of 2.3%.
Poolia Healthcare reported increases in both revenues and earnings for the fourth quarter. The previously weak demand for doctors has now been reversed, and growth is now being noted for staffing based on both nurses and doctors. During the quarter, preparations for establishing operations under a separate brand continued, which included relocation to Poolia Healthcare’s own premises. In total for the year, growth amounted to 10% and the operating margin was 6.4%.
For further information, please contact:
Erik Strand, Managing Director and Chief Executive Officer (Tel: +46-8-555 650 60)
Mats Påhlson, Chief Financial Officer (Tel: +46-8-555 650 20)
Poolia’s success is based on continuous effort to achieve the highest quality. We specialize in temporary staffing and permanent recruitment of professionals within our focus areas of accounting, administration, IT and healthcare. Poolia has existed since 1989 and is active in six countries.