Interim Report Rejlers AB January – June 2016

Platform for increased profitability

Second quarter
» Sales increased by 33 percent to SEK 608.2 million (456.5)
» Operating profit/loss was SEK 22.6 million (20.1), which corresponds to an operating margin of 3.7 percent (4.4)
» Operating profit/loss adjusted for restructuring costs was SEK 26.2 million, which corresponds to an operating margin of 4.3 percent
» The profit/loss after tax was SEK 18.4 million (14.9)
» Cash flow from operating activities totalled SEK 10.7 million (33.8)
» Earnings per share amounted to SEK 1.39 (1.21)

First half
» Sales increased by 28 percent to SEK 1,167.4 million (908.7)
» Operating profit/loss was SEK 16.6 million (43.0), which corresponds to an operating margin of 1.4 percent (4.7)
» Operating profit/loss adjusted for restructuring costs was SEK 26.3 million, which corresponds to an operating margin of 2.3 percent
» The profit/loss after tax was SEK 12.9 million (32.1)
» Cash flow from operating activities totalled SEK -2.6 million (44.7)
» Earnings per share amounted to SEK 0.93 (2.61)

Comments from President and CEO, Peter Rejler
During the quarter, we have created a platform for continuing positive development, where we also see an improvement in the billable hours ratio for Sweden, Finland and Norway compared with the previous quarter. The reorganisation of the business, in which we are disposing of unprofitable areas and primarily growing in digitalisation of processes and IT solutions, is beginning to have an effect.

Growth has continued well with an increase in sales in the group of 33 percent, 5 percent of which is organic.

The operating profit for the second quarter of SEK 22.6 million is somewhat better than last year and has been affected positively by the improved billable hours ratio compared with the first quarter, as well as a positive calendar effect.

Rejlers Sweden’s action programme is proceeding according to plan and the restructuring costs amounted to SEK 3.6 million during the quarter and SEK 9.7 million during the first half.

Rejlers Finland has adapted its activities in order to meet market expectations and now also offers services in production efficiency, process design, security and digitising processes.

Rejlers Norway continues to streamline the organisation and is implementing a number of cost savings to improve profitability. The business showed organic growth of 30 percent in the quarter.

For IT Solutions, the second quarter has been marked by strong growth for our IT solutions in the energy sector. We are gathering all competence in IT Solutions under the Rejlers Embriq brand, which will create economies of scale for our digital offering and Smart Metering Operations.

We have noted a positive trend in demand for our services in all segments during the quarter. About 1,100 of Sweden's largest companies are now required by law to map their energy consumption and propose measures to reduce energy use. Rejlers is one of the first in Sweden to have certified energy mappers and during the quarter we have signed major agreements with Statnett, Hafslund, Scania and the Swedish Transport Administration, among others.

We are strengthening our position in the market and continuing our reorganisation into a more effective organisation and business. The goal is to improve the operating margin to 8 percent over time and to reach our growth objectives of 2020-3030-4040. 

For further information, please contact:
Peter Rejler, President and CEO, tel: +46 (0)70 -602 34 24, email:
Mats Åström, CFO, Tel: +46 (0)70 -050 22 40, email:

Rejlers is one of the Nordic region's largest technical consultants. 2,000 experts work on projects in construction and property, energy, industry and infrastructure. We have specialist engineers with both broad and specific expertise, coupled with energy that creates results. We are continuing to expand rapidly, and currently have offices in 80 locations throughout Sweden, Finland and Norway. In 2015, Rejlers' turnover was
SEK 1.9 billion and its Class B shares are listed on the Stockholm NASDAQ.

This information is information that Rejlers AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 19 July 2016 at 08.00 CET. This report is also available in Swedish. This English report is a translation from Swedish. If there are any differences, the Swedish language report shall prevail.

About Us

Rejlers is one of the largest engineering consultancy firms in the Nordic region. Our 2,000 experts work with projects in the areas of Energy, Buildings, Industry, Infrastructure and Telecom. At Rejlers, you will meet specialist engineers with the knowledge, cutting edge expertise and energy to achieve results. We can be found in 75 locations in Sweden, Finland and Norway. Rejlers recorded revenue of SEK 2.5 billion in 2017 and its class B share is listed on Nasdaq Stockholm.


Documents & Links