ProAct IT Group AB (publ) Interim report January - March 2002

Interim report, January-March 2002 Progressive positions in a tough market climate During 2001, growth in the IT market declined dramatically. The low growth rate is expected to continue in 2002 before gradually beginning to improve. In this tough market climate, ProAct has nevertheless succeeded in improving its position within its existing business areas, and has made a strategic acquisition in the field of security. ProAct's financial goal for 2002 is to achieve an increase in revenue which exceeds that of the market in general, with a considerable improvement in profits. Summary of the first quarter · Revenue amounted to SEK 181.5 million (168.2), an organic increase of 8 per cent compared to the first quarter of the previous financial year. · Operating profits before the amortization of goodwill (EBITA) totalled SEK -5.2 million (4.4) with net operating profits amounting to SEK -10.0 million (0.9). · The average number of employees was 280 (240). The number of employees increased by 16 during the first quarter, and at 31 March, the company employed 301 people. Significant events during the quarter · During the period covered by this report, ProAct acquired the activities of Defcom Sweden AB, which employs 20 people and operates in the field of Internet security. ProAct has thus added extra competence as regards security and networks, an area which now employs 50 people of a total Nordic staff of 300. · A number of major deals were closed during the period with companies including FMC Kongsberg Subsea and Hakon Gruppen in Norway, Ericsson in Sweden and ABN Amro Bank and SIS Group in Switzerland. ProAct is a specialist and independent integrator with know-how, methods and products in the field of data warehousing and infrastructure for securing mission-critical information. The company, which is active in Denmark, Finland, Norway, Switzerland and Sweden, focuses on large and medium-sized companies and organisations in need of secure and efficient handling of mission-critical information. Business is conducted in Copenhagen, Aarhus, Helsinki, Uleåborg, Oslo, Bergen, Stavanger, Trondheim, Stockholm, Gothenburg, Karlskrona, Linköping, Lund, Sundsvall, and Zurich with a staff more than 300, most of whom are technically oriented. What sets ProAct apart is the technical expertise and competence of its personnel. ProAct IT Group is listed on the O-list of the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/04/26/20020426BIT01550/wkr0001.doc The full report http://www.waymaker.net/bitonline/2002/04/26/20020426BIT01550/wkr0002.pdf The full report