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YEAR-END REPORT 2010

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Fourth quarter – October 1 – December 31, 2010

  • Net sales SEK 409 m (351)
  • Operating profit SEK 43 m (20)
  • Operating margin 10.5 % (5.6 %)
  • Profit after tax SEK 32 m (20*)
  • Earnings per share after dilution SEK 0.42 (0.26*)


January 1 – December 31, 2010

  • Net sales SEK 1,462 m (1,436)
  • Operating profit SEK 89 m (66). Restructuring costs of
    SEK 20 m were charged against earnings in the preceding year.
    • Operating margin 6.1 % (4.6 %)
    • Profit after tax SEK 62 m (62*)
    • Earnings per share after dilution SEK 0.80 SEK (0.80*)
    • Cash and cash equivalents SEK 116 m (105)
    • The Board of Directors intends to propose that the Annual General Meeting resolve on a dividend of SEK 0.50 per share, corresponding to a total of approximately SEK 38 m


Statement by Carl-Magnus Månsson, CEO

The year ended with a strong fourth quarter and Acando recorded an operating margin in line with the corresponding quarter of the economically strong year of 2008. It is particularly gratifying to see that we improved profitability in both Sweden and Germany, our two largest markets, which combined, account for more than three-fourths of the Group’s net sales. The sales growth for the quarter corresponded to slightly more than 20 percent in local currency. In particular, Finland and the UK recorded very strong growth with continued favorable profitability. In 2011, we continue our work in progress of focusing on margin improvement, with the aim of delivering sustainably satisfactory operating profits. This work mainly comprises a strong focus on sales, and operational resource management and delivery.

The market situation in the Öresund region improved during the quarter, but we did not succeed in capitalizing on this in the Malmö region and Denmark. The utilization level remains unsatisfactory and intensive work is under way to restructure the operations to achieve intensified focus on deliveries in profitable competence areas.  

Demand is favorable in all competence areas, but we particularly note a rise in demand for Microsoft and SAP-based business system solutions. We are also continuing to secure management-based delivery contracts, which result in long-term customer relations, with good opportunities for selling in projects. An area in which we foresee high demand for 2011 is CRM solutions based on Microsoft, with delivery both through cloud and traditional implementations. In 2010, we built a strong position in this area in our three largest markets, Sweden, Germany and Norway.

The order status for 2011 is satisfactory. We continue to increase the pace of our recruitment to be able to meet rising demand. At the same time, the positive economic situation means that there is intense competition for skilled employees. We are also continuing to develop 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 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 160 million 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.

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