Interim report for January 1 – September 30, 2005
Managing Director and CEO Erik Strand´s comments on the interim report for January 1 – September 30, 2005
Poolia continues to report a positive earnings trend and is capturing market share in the important Swedish market. Consolidated operating profit for the first nine months of 2005 amounted to SEK 22.3 M, up SEK 16.0 M for comparable operations. Third-quarter operating profit of SEK 9.0 M includes continued costs for adjustment measures in Germany and a major market communication initiative in Sweden.
The trend in the Swedish market remains strong. Poolia’s sales in Sweden rose 23% during the third quarter of 2005, compared with the year-earlier period, and the operating margin for the quarter was 6.5%. The operations in Sweden increased their market share within Poolia’s segments.
The UK market continues to grow. Poolia’s British operations are developing as planned. During the quarter, forceful action was taken in the smaller British offices, which affected the margin. In August, the UK company’s name was changed to Poolia Parker Bridge.
Operations in the Other Nordic countries showed volume growth of 45% for the third quarter. Earnings are breaking even and all the countries are showing growth, with Denmark noting the strongest trend. The market trend in all the Nordic countries is favourable.
In Germany, the market is improving in an increasing number of regions. The operations in Hamburg continue to suffer from volume decline and charges for adjustment measures, while a positive trend is being shown in the smaller locations. In total, the German business is operating at a loss.
The operations of Poolia Care continued the positive trend that started at midyear 2004. Revenues for the third quarter of 2005 rose by more than 60% compared with the third quarter of 2004, and the operating margin for the quarter was 5.8%.
On September 1, Björn Wide assumed the newly established position of Poolia’s international director, and on the same day Alfred Unterschemmann became the new head of Poolia Germany.
For further information, please contact:
Erik Strand, Managing Director and Chief Executive Officer (Tel: +46-8-555 650 60)
Mats Påhlson, Chief Financial Officer (Tel: +46-8-555 650 20)
Poolia is a leading player in the market for professional staffing and is active more than 20 locations in Sweden, Norway, Denmark, Finland, Germany and the United Kingdom. Operations include the Temporary Staffing and Permanent Recruitment service areas. Poolia offers professional staffing services in the Accounting, Bank & Finance, IT, Office, Human Resources, Payroll, Technology, Sales & Marketing, Legal, Care and Life Science occupational segments.