Ework Group, Interim Report, January – March 2019: A good start and progress, but more uncertain market

“Ework had a stable first quarter, with sales growth and earnings performance remaining positive. Earnings are up by 17%, which we’re happy with against the background of our previously reported initiatives, which are continuing. We’re consolidating our market position with new business, but at the same time, do see signs of the market weakening.”

Extract from CEO Zoran Covics commentary to the Interim Report.

First Quarter 2019 Compared to 2018

• Net sales increased by 19% to SEK 3,128 M (2,623).

• EBIT was up by 17% to SEK 26.4 M (22.5).

• Order intake rose by 18% to SEK 3,909 M (3,301).

• Earnings per share after tax and after dilution was SEK 1.10 (0.97), a 13% increase.

• The consulting market was more uncertain during the quarter with wider variations between individual customers’ demand, and with signs of the market weakening ahead.

• Ework is reiterating the outlook for 2019 stated in the Year-End Report of 2018, however, should the weakening of demand continue or accelerate, reaching the targets is expected to be more challenging than anticipated.

The complete Interim Report is available via link below or at www.eworkgroup.com

For further information, please contact:

Zoran Covic, President and CEO, 46 (0) 706 65 65 17
Magnus Eriksson, deputy CEO and CFO, 46 (0) 8 50 60 55 00, 46 (0) 733 82 84 80

The information disclosed in this Interim Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU Market Abuse Regulation. This information will be submitted for publication at 8:00 a.m. (CET) on 25 April 2019. This Interim Report has not been reviewed by the company’s auditor.

About Us

Ework Group is a market leading, independent consultant supplier in Northern Europe with focus on IT, telecom, technology and business development. Without employed consultants, Ework can impartially match every assignment with the right consultant from the whole market. Founded in Sweden in 2000, Ework today operates in Sweden, Denmark, Norway, Finland and Poland. The company has frame agreements with more than 160 leading companies in most industries, while managing 6,000 consultants on assignment. The head office is in Stockholm, Sweden. Ework’s shares are listed on NASDAQ OMX Stockholm.