Interim Report for the period January 1 - March 31, 2001

Interim Report for the period January 1 - March 31, 2001 - Sales during the January - March period rose 55% to SEK 304 M (first quarter of 2000: 196). - Pretax profit amounted to SEK 18.6 M (15.5) and operating profit to SEK 14.3 M (15.1). - Earnings per share amounted to 0.50 (0.56) SEK. - A&Z, a German staffing services company based in Hamburg, was acquired. - Competence Sköterskejouren was acquired. - Local office opened in Karlskoga. - During April business has started in Norway. - Follwing period end bonus issue shares (2:1) has been implemented. Sales Sales rose 55% during January - March 2001 to SEK 304 M (196). Sales from operations outside Sweden amounted to SEK 31 M (0). Sales deriving from acquired operations totaled SEK 40.7 M. If acquired operations are excluded, the sales increase was 34%. Temporary Staffing continues to be the predominant service area, noting growth of 58%. Accounting is the largest occupational segment in absolute terms. Sales were distributed as follows by service area: Jan - Jan - Chang % % Dec Dec e share share SEK M 2001 2000 % 2001 2000 Temporary 281.9 178.4 58.0 93 91 Staffing Recruitment 18.7 16.0 16.9 6 8 Outsourcing 3.2 2.1 52.4 1 1 Total 303.8 196.5 54.6 100 100 Earnings Pretax profit during amounted to SEK 18.6 M (15.5). Operating profit totaled SEK 14.3 M (15.1). Cost for the international expansion were charged to earnings with approximately 2 MSEK. The companies acquired during the period - A&Z (Arbeit & Zeit Renate Sandow GmbH) and CSI Competence Sköterskejouren International AB - are included in earnings as of January 1, 2001. The Group's financial net for the period amounted to income of SEK 4.3 M (0.4). Acquisitions and new establishments A majority shareholding in A&Z (Arbeit & Zeit Renate Sandow GmbH), a German staffing services company, was acquired during the quarter. The remainder of the shares will be acquired in January 2002. The acquired company has approximately 500 consultants concentrated in the Hamburg region, two thirds of whom are active in administrative positions in, for example, the Accounting occupational segment. One third of the consultants are active in the Technology & Industry segment. A&Z will function as a base for continued expansion in Germany. Poolia also acquired CSI Competence Sköterskejouren International AB (renamed Poolia Vård AB) during the quarter. The acquired company is Sweden's third largest staffing firm in the healthcare sector. Competence Sköterskejouren, which has more than 100 consultants active in the public and private healthcare segments, will function as a base for the Poolia Healthcare occupational segment. A subsidiary was formed in Norway, where operations in Oslo were initiated during April 2001. Activities in the newly formed Human Resources & Payroll Services and Pharmaceuticals occupational segments commenced on January 1, 2001. A local office was opened in Karlskoga during the quarter. Significant events after the close of the report period The Annual General Meeting held on April 5, 2001 approved the proposed dividend of SEK 2.50 per share to shareholders. The Annual General Meeting also voted in favor of the implementation of a bonus issue of shares, whereby the Company's share capital was increased to SEK 4,599,832.80 through a transfer of SEK 3,066,555.20 from the premium reserve. As a result of the bonus issue, shareholders receives two new shares for every existing share held. An Extraordinary General Meeting on May 18, 2001 will address a motion regarding the continuation of the incentive program for senior executives that was introduced in the preceding year. Liquidity and financing On March 31, 2001, the Group's liquid assets amounted to SEK 466.5 M (68.2). Cash flow from operations was positive in an amount of SEK 1.1 M (18.2). During the first quarter, "SPP rights" were purchased for SEK 24.2 M, which was charged against cash flow from operations. The equity/assets ratio was 71% (54). Investments Investments in fixed assets during the period amounted to SEK 52.6 M (17.9) of which SEK 50.7 is goodwill. Employees The average number of employees during the period was 2,746 (1,688). The total number of employees on March 31, 2001 was 3,271 (2,177). Parent Company The Parent Company engages in general corporate management, development and financial management activities. Sales amounted to SEK 0.9 M (0.7) and pretax profit to SEK 3.8 M (0.2) during first quarter. Market According to SPUR (the Swedish Association of Temporary Work Businesses and Staffing Services), sales in the Swedish staffing services sector totaled MSEK 8 052 during 2000, reflecting growth of 67.6% compared with last year. Poolia's market share in 2000 was 11.5%, an increase of 1.3 percentage points compared with full-year 1999. Outlook for 2001 Poolia's aim for the current fiscal year is to outperform the sector in terms of sales growth, while maintaining healthy profitability. Forthcoming financial reports Interim report, January - June August 14, 2001 Interim report, January - September November 7, 2001 Year-end Report, 2001 February 2002 Stockholm, May 10, 2001 Mats Edlund President and Chief Executive Officer Information This interim report has been prepared in accordance with the Financial Accounting Standards Council's Recommendation RR20. The accounting and calculation principles are unchanged compared with the 2000 Annual Report. The amortization of goodwill resulting from acquisitions completed during the first quarter of 2001 is based on a 20-year amortization schedule, since the acquisitions are regarded as being of a strategic nature. This interim report has not been reviewed specifically by the Company's auditors. For further information, please contact: Mats Edlund, President and Chief Executive Officer (Tel: +46-8-555 655 06) Kjell Åke Jägenstedt, Chief Financial Officer (Tel: +46-8-555 650 09) Poolia is a leading player in the Swedish staffing services market. Operations include the Temporary Staffing, Recruitment/Search and Outsourcing service sectors. In each service sector, operations are divided into occupational segments, namely Accounting, Bank & Finance, IT, Office, Human Resources and Payroll, Technical & Industry, Sales & Marketing, Legal, Teaching, Healthcare and Pharmaceuticals. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/10/20010510BIT00840/bit0002.DOC Full Report http://www.bit.se/bitonline/2001/05/10/20010510BIT00840/bit0002.pdf Full Report