Managing Director and CEO Johan Eriksson comments on Poolia’s year-end report for 2007

English version of the year-end report published on February 21

<font size="3">Positive trend in Sweden, Germany and Dedicare
Restructuring completed in the UK</font>

<b>Revenues</b>
In 2007, Poolia became larger than ever before. With revenues of SEK 351 M in the fourth quarter, we achieved full-year revenues of SEK 1,340 M, equal to growth of 10% compared with 2006. However, the growth was unevenly distributed among our markets. The strongest trend was reported by Poolia Germany, which gained momentum after last year’s restructuring and grew during the year by a total of 85% within comparable units. Healthcare company, Dedicare, which is now market leading in Sweden in temporary nurse staffing, also had a very positive trend during 2007, growing 62% during the year.

In contrast, Poolia UK reported weaker revenues than in 2006, in both the fourth quarter and the full year. This was partly due to the smaller offices outside London that were discontinued during the fourth quarter requiring considerable management resources. We will establish more offices in the UK in the future, but this will not be realised until we have a significantly more stable and profitable base in London. We will also continue to work to reduce our dependence on the banking sector and broaden our client base in the UK.

Our largest unit, Poolia Sweden, grew by a total of 14% during the year. A large number of newly recruited employees and insufficient pressure on sales resulted in Sweden losing momentum at mid-year, and the fourth quarter also included an employee-friendly Christmas with two working days fewer than 2006, which also affected growth. The measures that were implemented were fruitful and, calculated per working day, fourth-quarter revenues were significantly higher than the year-earlier level and displayed a rising trend.

<b>Earnings</b>
The operating margin for the Group totalled 3.7% for the quarter and 5.2% for the full year. Similar to the growth pattern, earnings were unevenly distributed among the Group’s units. Sweden, Germany and Dedicare all had margins ranging between 8% and 10% during the year, while the UK reported a loss.

Excluding the approximately SEK 15 M representing costs for the discontinued offices during the year, earnings in the UK were nevertheless positive. In conjunction with the closure, we adapted the organisation and reduced overhead expenses in order to better adapt to the new direction involving a full focus on London. The reduction in overheads, which was implemented in two stages during the second half of the year, resulted in a halving of the number of employees within staffing and support functions. The former managing director of Poolia UK left the company and was succeeded by the sales director, Shaun Greenfield as acting managing director.

During the fourth quarter, Poolia Sweden conducted a comprehensive marketing effort, which meant that 40% of the year’s advertising costs in Sweden were charged against that quarter. The three commercials with high-profile businessmen Jan Carlzon, Claes Dahlbäck and Olof Stenhammar were very well received and led to a significant increase in recognition for Poolia by the target groups. Poolia is now associated with the recruitment and staffing of professionals by 50% of the general public, which is our desired market position.

<b>Market</b>
The uncertainty presently prevailing concerning the economic trend in Western Europe had no negative effects on demand for Poolia’s services. However, we are carefully monitoring developments and are prepared to take action if needed.

Johan Eriksson