INTERIM REPORT

JANUARY 1 –MARCH 31, 2011

• Net sales SEK 398 m (360)
• Operating profit SEK 34 m (19)
• Operating margin 8.4 % (5.4 %)
• Profit after tax SEK 23 m (15)
• Earnings per share after dilution SEK 0.30 (0.20)
• Cash and cash equivalents SEK 138 m (119)

Statement by Carl-Magnus Månsson, CEO

During the first quarter of the year, Acando’s operations reported a healthy trend which was supported by an increasingly strengthened market and continued operational efficiency measures. Organic growth measured in local currencies amounted to approximately 15 percent, though negative currency effects of about 4 percentage points arose from the strengthened SEK. A rising degree of utilization and a favorable mix of services in deliveries resulted in substantial improvement in the operating profit to SEK 34 m from SEK 19 m in the year-earlier period. Operating margins are in line with the corresponding period during the robust economic climate of 2008 in all countries excluding Denmark.

The development in Norway, with strong growth in sales and the highest margins in one quarter for two years, is particularly gratifying. However, in respect of profitability, Denmark continues to pose a challenge.

Demand strengthened considerably for Microsoft solutions based on Sharepoint and SAP competence for implementation projects and further development of existing solutions, during the quarter. Additionally, we have been able to utilize competence and solutions between Group countries in these areas.

It is with great pleasure and pride that I report that the Nobel Foundation chose Acando as their partner for the establishment of more efficient IT support for the planning of the Nobel Prize Award Ceremony, the Nobel Banquet in Stockholm and the other activities of Nobel Week. Our methodology of working together with our customers to identify and understand their needs, to then define the solution and build confidence and security during the implementation process has proved decisive.

Interesting and challenging assignments are crucial for attracting the best consultants and the project for the Nobel Foundation is one of many such examples. We have a pressing need to increase recruitment levels but have noted increasing levels of competition for new employees. The high level of demand means a general increase in mobility amongst employees thus affecting opportunities for organic growth. We continue to operate a trainee program and focus on recruiting young professionals to our academies in the competence areas of Microsoft and Strategic IT. At the same time, we are increasing volumes in our subcontractor business.

For further information, please contact:
Carl-Magnus Månsson, President and CEO
+46 8 699 73 77

Lotta Jarleryd, CFO
+46 8 699 74 14

Acando
Acando is a consulting company that in partnership with its customers identifies and implements sustainable business improvements through information technology. Acando provides a balance between high customer value, short project times and low total cost. Acando has annual sales of about EUR 170 m with about 1,100 employees in six countries in Europe. The company is listed on the NASDAQ OMX Nordic exchange. Its company culture is based on the core values of team spirit, passion and results.