Adera comments on fourth quarter
Adera comments on fourth quarter In Adera's 1999 Annual Report, the assessment was made that the Company would achieve break-even during 2000. In the report for the third quarter, 2000, it was stated that the demand for the Company's services remained favorable and that this would result in a significant increase in earnings during the fourth quarter. At the same time, it was noted that anticipated earnings were dependent on the start-up of a number of major projects. At the end of the fourth quarter, earnings had declined significantly. One reason was the change in market conditions and the postponed starting times for a number of major projects. In addition, non-optimal competence mixes in certain markets resulted in lower than expected utilization. The combination of these conditions resulted in a deviation from previous targets. The preliminary loss before goodwill amortization and reserves for structural measures amounts to SEK 60 M for the fourth quarter and SEK 113 M for 2000. An overall structural remedy plan will be presented in conjunction with the release of the Year-end Report for 2000 on February 22. The company's liquidity and solidity continue to be good. Adera AB (publ) generates business value for customers by combining areas of expertise critical for success based on the new business logic: strategy/business development, marketing/communications and IT/Internet. Adera currently consists of around 600 employees and has offices in Stockholm, Gothenburg, London, Amsterdam, Antwerp, Munich, Copenhagen, Malmoe, Oslo, Ljungby and Värnamo. Adera shares are listed on the O-List of the OM Stockholm Exchange. For more information, visit our website: www.aderagroup.com For further information, please contact: Rolf Jansson, President and CEO, Mobile: +46-(0)705-72 72 02. E-mail: rolf.jansson@aderagroup.com Per Malmström, CFO, Mobile: +46-(0)70-725 28 36. E-mail: per.malmstrom@aderagroup.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/13/20010213BIT00300/bit0002.doc http://www.bit.se/bitonline/2001/02/13/20010213BIT00300/bit0002.pdf