Year-End Report 1 January – 31 December 2016
Quarterly period October-December
- Poolia's revenue amounted to SEK 198.9 (210.2) million, a decline of 5%.
- Operating profit amounted to SEK 8.8 (6.9) million, with an operating margin of 4.4% (3.3%).
- Profit before tax was SEK 8.8 (11.1) million.
- Profit after tax was SEK 5.6 (8.2) million.
- Earnings per share amounted to SEK 0.33 (0.48).
- Cash flow from operations for the quarter improved to SEK 23.4 (11.4) million.
- Poolia Sweden reported restructuring costs of SEK 0.8 (0.3) million during the quarter.
- Poolia’s UK operations were divested on 28 February 2014. The only costs remaining in the companies are administrative expenses and a tax provision for the gain on the sale of the operations.
- Profit/loss from discontinued operations was SEK -0.4 (-0.7) million for the fourth quarter and SEK -2.0 (-0.7) million for the period January-December.
- Cash flow from discontinued operations in the period January-December was SEK -0.8 (-0.0) million.
Full year January-December, continuing operations
- Revenue amounted to SEK 784.7 (757.1) million, an increase of 3.6%.
- Operating profit amounted to SEK 23.0 (16.0) million, with an operating margin of 2.9% (2.1%).
- Profit before tax was SEK 20.5 (22.5) million.
- Profit after tax was SEK 13.7 (16.0) million.
- Earnings per share amounted to SEK 0.80 (0.93).
- Cash flow from operations for the period was SEK 13.3 (17.4) million.
- Poolia Sweden reported restructuring costs of SEK 6.4 (5.3) million during the period.
- The equity/assets ratio ended the period at 33.2% (32.4%), and the Group’s equity per share was SEK 4.76 (4.41).
- The Board proposes a dividend of SEK 0.6 per share, with a total value of SEK 10,273,198.
From the CEO – Continuing positive earnings growth in operations
Poolia has delivered its best Q4 operating profit since 2008. The operating profit of SEK 8.8 million represents an increase of 28% compared with the same quarter in 2015. The operating margin of 4.4% is close to our long-term target and is the highest for a fourth quarter since 2008.
Revenue for the quarter fell by 5%, which is unsatisfactory and is partly due to our clients increasingly employing our temps, and a noticeable shortage of candidates. We work constantly to develop our client portfolio and have successfully increased profitability in new business.
During 2016, Poolia’s revenue increased by 3.6% and operating profit by 44% compared with 2015. Our restructuring programme, which started three years ago, is producing good earnings growth.
Profit before tax for the full year 2016 was SEK 20.5 million, which is 28% better than for 2015 excluding a non-recurring currency gain of SEK 6.5 million in 2015 attributable to a prior year. The 2016 figure includes restructuring costs of SEK 6.4 million.
The economies of Germany and Sweden are still booming, creating a good demand for our services, but also leading to a shortage of candidates. To achieve growth, we shall intensify our marketing to the candidate market and continue to build up our sales organisation.
Poolia’s long-term goals and strategies stand firm.
Managing Director and CEO
Morten Werner, MD and CEO, tel: 46 70 636 25 25, 46 8 555 650 60
This is information that Poolia AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through the contact person above at 09.25CET on 21 February 2017. The Swedish version was published 20 February 2017 at 07.00.
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.