YEAR-END REPORT 1 JANUARY – 31 DECEMBER 2014

Quarterly period October-December, continuing operations
Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

• Revenue amounted to SEK 179.2 (182.2) million, a decline of 1.6%.
• Operating profit was SEK 1.0 (-0.8) million, with an operating margin of 0.6% (-0.4%).
• Profit before tax amounted to SEK 0.9 (-0.8)
  million.
• Profit after tax was SEK 0.0 (-0.3) million.
• Earnings per share amounted to SEK 0.00 (-0.02).
• Cash flow from operations for the quarter was SEK 8.4 (-11.5) million.

Full year January-December, continuing operations
Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

• Revenue amounted to SEK 700.6 (729.1) million, a decline of 3.9%.
• Operating profit was SEK 5.6 (2.4) million, with an operating margin of 0.8% (0.3%).
• Profit before tax amounted to SEK 5.3 (2.3) million.
• Profit after tax was SEK 1.8 (2.5) million.
• Earnings per share amounted to SEK 0.11 (0.15).
• Cash flow from operations for the period was SEK 13.3 (-2.4) million.
• The equity/assets ratio ended the period at 34.5% (28.4%), and the Group’s equity per share was SEK 3.96 (3.52).
• The Board of Directors proposes that no dividend be paid to the shareholders.

Discontinued operations

• Profit/loss from discontinued operations was SEK -0.1 (-2.9) million for the fourth quarter and SEK -1.7 (-22.3) million for the period January-December.
• Cash flow from discontinued operations, including the sale of the UK operations, was SEK 7.5 million for the period January-December.

From the CEO – Light at the end of the tunnel

Poolia's revenues from continuing operations amounted to SEK 179.2 million in the fourth quarter, a decline of SEK 3.0 million (1.6%) compared with the fourth quarter of 2013. Operating profit for the same period was SEK 1.0 (-0.8) million.

Revenues for the Swedish business were SEK 126.1 (141.2) million, which corresponds to 70% of the Group's revenues for the quarter. Operating profit/loss for Sweden was SEK -2.3 (-3.0) million. The fourth quarter is Sweden's second-best quarter of the year in terms of revenue. Overall, the proportion of unplaced resource temps continues to fall, although it is still too high in some parts of the business. Poolia Sweden incurred restructuring costs of SEK 2.0 million during the quarter (SEK 7.4 million for the full year).

Poolia's German business continues to develop well. Revenues totalled SEK 40.3 (30.5) million, an increase of 32%, while operating profit was SEK 2.9 (1.3) million, an increase of 122%. The fourth quarter is normally the industry’s weakest quarter in Germany as a large proportion of holidays are taken around Christmas.

Our Finnish operations also reported a good fourth quarter. Growth compared with the fourth quarter of the previous year was 22%. Operating profit, SEK 0.4 million, is still some way from an acceptable level.

Poolia Group's revenues from continuing operations declined by SEK 28.5 million (3.9%) during 2014.

Operating profit for the year amounted to SEK 5.6 (2.4) million, with an operating margin of 0.8% (0.3%). Cash flow from operations for the full year was SEK 13.3 (-2.4) million. The Group's liquidity is good.

Poolia made many decisions and made changes in terms of the overall strategic direction, organisation, and marketing and sales during 2014 – and these efforts are beginning to bear fruit. During autumn and winter, we won contracts with a number of well-known companies and organisations with the potential to become major clients. The savings programme aimed at reducing annual costs by SEK 15 million was implemented during the year. The full effect will be achieved from the second quarter of 2015.

The last place that improvement work is seen is the income statement. We continue resolutely and purposefully towards getting Poolia back in growth mode with good profitability.

Morten Werner
Managing Director and CEO         

For further information please contact:

Morten Werner, MD and CEO, tel. +46 70 511 64 58
Björn Örås, Chairman of the Board, tel.  +46 70 525 79 97

Poolia’s business concept is to provide companies and organisations with the skills that, either temporarily or permanently, meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent placement of professional staff in our focus areas of Finance & Accounting, Financial Services, Office Support, IT, Life Science & Engineering, Sales and Marketing, Human Resources, Legal, and Executive Search. Poolia has business in Sweden, Finland and Germany. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.

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