Acando showed strong growth for 2008

Acando’s Year-end Report is published today February 4th 2009, instead of previously communicated February 13th.

Period 1 January – 31 December 2008 compared with the same period 2007

• Net sales amounted to SEK 1 607m (1345), an increase of 19 percent.
• Operating profit was SEK 152m (102), an increase of 49 percent.
• Profit after tax was SEK 168m (109), an improvement of 54 percent.
• Cash flow from operating activities was SEK 188m (97), an increase of 94 percent.
• The shares in AS WMG in Estonia were sold during the period with a capital gain of SEK 13m. (The capital gain is included in "Profit after tax" and in “Earnings per share” but not in the operating profit).
• Earnings per share after dilution amounted to SEK 2.15 (1.33), an increase of 62 percent.
• The Board of Directors intends to propose to the Annual General Meeting of Shareholders that a dividend of SEK 0.50 per share be declared, corresponding to approx SEK 37.5m.
Fourth quarter 2008 compared with same period 2007:

• Net sales amounted to SEK 434m (404), an increase of 7 percent.
• Operating profit was SEK 47m (35), an increase of 34 percent.
• Profit after tax was SEK 50m (33), an improvement of 52 percent.
• Earnings per share after dilution amounted to SEK 0.64 (0.43), an increase of 49 percent.

The positive development during 2008 continued the full year. The fourth quarter was the strongest quarter in the Acando history and the full year 2008 showed the best results ever for the Acando group. The demand was strong for all Acando offerings, in all markets, and today the company has a favourable mix of customer categories.

Acando has a continued good demand in most regions. However, the market in western Sweden has changed dramatically during the last couple of months, why the company steps up and adjusts both capacity and offering to the existing demand.

“We need to continue to develop as a company in pace with our customers and their demand, which entails that we are adjusting to meet a structural change in the demand in western Sweden”, Acting CEO Bengt Lejdström explains. “Acando will continue to strengthen the offerings, where we see a potential for growth”.

See attached pdf for the full report.