Poolia AB (publ) Interim Report for the period January 1- June 30, 2001

Poolia AB (publ) Interim Report for the period January 1 - June 30, 2001 · Sales during the period rose 38.2% to SEK 578.9 M (418.8). · Pretax profit amounted to SEK 23.4 M (33.5) and operating profit to SEK 14.8 M (32.8). · Earnings per share amounted to SEK 0.58 (1.17). · Bonus issue (2:1) was implemented following decision by Annual General Meeting. · Extraordinary General Meeting voted in favor of continuation fore the incentive program. · Operations established in Norway. Sales Sales rose 38.2% during the period to SEK 578.9 M (418.8), of which operations outside Sweden accounted for SEK 63.5 M (0). Sales deriving from acquired companies totaled SEK 82.0 M. Excluding acquired operations, the sales increase was 18.6%. Temporary Staffing continues to be the predominant service area, noting growth of 40.4%. Accounting is the largest occupational segment in absolute terms. Sales were distributed as follows by service area: Jan - Jan - Chang % % June June e share share SEK M 2001 2000 % 2001 2000 Temporary 536.4 382.0 40.4 93 91 Staffing Recruitment 36.4 32.1 13.4 6 8 Outsourcing 6.1 4.7 29.8 1 1 Total 578.9 418.8 38.2 100 100 Earnings Pretax profit for the period amounted to SEK 23.4 M (33.5). Operating profit totaled SEK 14.8 M (32.8). Earnings during the period were charged with costs of approximately SEK 6 M for the establishment and acquisition of operations outside Sweden. Due to reduced demand in the telecom industry, among other sectors, Poolia's workforce was reduced by approximately 250 employees during the second quarter. 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 8.6 M (0.7). Significant events during the second quarter A subsidiary was formed in Norway, where operations in Oslo were initiated during April 2001. The Annual General Meeting held on April 5, 2001 approved 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 received two new shares for every existing share held. An Extraordinary General Meeting on May 18, 2001 voted in favor of a continuation of the incentive program for senior executives that was introduced in the preceding year. Liquidity and financing On June 30, 2001, the Group's liquid assets amounted to SEK 445.7 M (76.8). Cash flow from operations during the period amounted to SEK 3.8 M (38.9). During the first half of the year, Alecta-rights (SPP) were purchased for SEK 26.6 M, which temporarily reduced cash flow from operations. During the second quarter, the Company received SEK 1.1 M in connection with the subscription of option rights by employees. Dividends in an amount of SEK 17.2 M were paid to shareholders. The equity/assets ratio was 74% (52). Investments The Group's investments in fixed assets during the period amounted to SEK 52.4 M (22.5), of which goodwill accounted for SEK 49.7 M. Employees The average number of employees during the period was 2,716 (1,840). The total number of employees on June 30, 2001 was 3,066 (2,688). Parent Company The Parent Company engages in general corporate management, development and financial management activities. Sales during the period amounted to SEK 2.2 M (1.4) and pretax profit to SEK 7.3 M (-0.4). Market According to SPUR (membership companys), sales in the Swedish staffing services sector totaled SEK 2.4 billion during the first quarter of 2001. Poolia's market share during the first quarter of 2001 was 11.5%. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/14/20010814BIT00600/bit0001.doc The full report http://www.waymaker.net/bitonline/2001/08/14/20010814BIT00600/bit0001.pdf The full report