Audumbla's net revenue increases by 101% to SEK 167 million

Audumbla's net revenue increases by 101% to SEK 167 million Audumbla Communication Group AB, one of Sweden's leading strategic communication groups, reports significant growth combined with high profitability for 2000. Net income for the full year increased by 101% to SEK 167 million at the same time as operating profits rose by 42% to SEK 30 million. The profit margin was 18%. During the year the number of employees increased from 127 to 180. All group companies are experiencing these strong growth trends and the high level of demand is continuing. The company also has clear plans for a stock exchange listing. Audumbla assists its clients to build and improve their brands through integrated communication. Since the start of the company in 1998 it has experienced strong growth combined with good profitability. During 2000 Audumbla started up a number of new business operations, including within the Strategy business area which in the first year of operation contributed net revenue of SEK 57 million and an operating profit of SEK 12.5 million for the business area. - "Despite the fact that 2000 was a turbulent year for many consultancy firms, Audumbla is on a sound footing and is well-positioned in the market. We are now able to provide a full range of integrated communication services and thanks to this have managed to attract some of the most prestigious assignments in the market, including Vattenfall. This position gives us the opportunity to recruit the leading consultants within the communication field and to continue both our national and international expansion", says Group Chief Executive Nils Tunebjer. - "The strength inherent in our results in 2000 is that we managed to combine significant growth with a high level of profitability. Audumbla has a strong and positive cash flow and no interest-bearing liabilities, and this is a mark of quality for us and our business model. It is also very satisfying to see that all our operating companies within the Group are running at a profit", continues Nils Tunebjer. For more information, please contact: Nils Tunebjer, CEO, Audumbla. Tel.: +46 (0) 709-62 96 29 Olle Nordberg, CFO, Audumbla. Tel.:+46 (0) 708-62 88 00 www.audumbla.se Summary of Audumbla Communication Group AB's financial result and position 2000 1999 Net revenue (SEK 000) 166 82 917 657 Sales (SEK 000) 269 163 599 839 Operating profit before amortisation of goodwill (SEK 30 326 21 325 000) Profit after financial items (SEK 25 455 19 928 000) Profit margin % 18 25 Equity ratio % 65 48 Return on average equity % 23 71 Return on average total assets % 25 44 Average no. of employees during 156 73 year No. of employees at year end 180 127 Net revenue / employee (SEK 000) 1 068 1 136 Operating profit per employee 194 292 (SEK 000) Definition of key ratios Net revenue Net sales less cost of goods and services purchased for production. Operating profit before amortisation of goodwill Operating profit after depreciation, but with reversal of amortisation of goodwill. Profit margin Profit after financial items but with reversal of amortisation of goodwill, expressed as a percentage of net revenue. Equity ratio Equity including minority shareholdings expressed as a percentage of the balance sheet total. Return on average equity Profit after tax expressed as a percentage of average equity. Return on average total equity Profit after net financial items plus financial costs expressed as a percentage of average balance sheet total. Net revenue per employee Net revenue divided by average number of full-time employees. Operating profit per employee Operating profit after depreciation but with reversal of amortisation of goodwill, divided by the average number of full-time employees. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/16/20010220BIT00950/bit0001.doc http://www.bit.se/bitonline/2001/02/16/20010220BIT00950/bit0002.pdf