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Interim Report January-June 2022 - Continued healthy market, focus on profitable growth

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The underlying performance in two of our three segments is good. We are seeing a positive trend with regard to utilisation rate and hourly rates, along with lower overheads and a more efficient organisation. EBITA amounted to SEK 14.8 million (23.5) in the quarter, which equates to an EBITA margin of 6.0 percent (8.5). Final reconciliation from Tillväxtverket, relating to short-time work allowance in 2020,  have affected EBITA negatively by SEK 3.5 million. Discontinued operations have affected EBITA negatively by SEK 3.5 million. Together, these two items amount to SEK 7 million, corresponding to 2.8 percentage points on the EBITA margin. Net revenue totalled SEK 245 million (278). The decrease is mainly due to divested and discontinued operations in 2021.

Second quarter, 1 April–30 June 2022

  • Net revenue totalled SEK 245.3 million (277.6)
  • EBITA was SEK 14.8 million (23.5) and the EBITA margin was 6.0 percent (8.5)
  • EBIT was SEK 12.9 million (19.2) and the operating margin was 5.3 percent (6.9)
  • Profit for the period totalled SEK 8.8 million (12.4)
  • Earnings per share for the period amounted to SEK 0.37 (0.51), there is no dilution effect
  • Final reconciliation from Tillväxtverket have affected EBITA by SEK –3.5 million
  • The earnings impact of discontinued operations has affected EBITA by SEK –3.5  million
  • EBITA and the EBITA margin excluding final reconciliation from Tillväxtverket and earnings impact of discontinued operations are SEK 21.8 million and 8.8 percent respectively

Period, 1 January–30 June 2022

  • Net revenue totalled SEK 495.7 million (559.6)
  • EBITA was SEK 34.8 million (41.8) and the EBITA margin was 7.0 percent (7.5)
  • EBIT was SEK 31.0 million (34.7) and the operating margin was 6.3 percent (6.2)
  • Profit for the period totalled SEK 20.8 million (21.7)
  • Earnings per share for the period amounted to SEK 0.86 (0.89); there is no dilution effect
  • Final reconciliation from Tillväxtverket have affected EBITA by SEK –3.5 million
  • The earnings impact of discontinued operations has affected EBITA by SEK –3.5  million
  • EBITA and the EBITA margin excluding final reconciliation from Tillväxtverket and earnings impact of discontinued operations are SEK 41.8 million and 8.4 percent respectively
  • On 18 January, it was announced that Liselotte Haglind has been appointed Chief Financial Officer. Liselotte took up her post on 1 July 2022. The current Chief Financial Officer, Peter Sandberg, will leave the company in July
  • During the first quarter, the Board of Directors of Projektengagemang Sweden AB, based on the authorisation granted by the Annual General Meeting held on 5 May 2021, resolved to acquire class B treasury shares on Nasdaq Stockholm. On 30 March 2022, 500,000 class B shares were acquired.

You will find the full report here.

Webcasted presentation:

At 09.00 CET a conference call will be held via Zoom in which Helena Hed, President and CEO, and Liselotte Haglind CFO, will present the report. The presentation will be held in Swedish and will be followed by a question and answer session.

Link to the webcast:

https://www.projektengagemang.se/en/ir/financial-reports

For further information please contact:
Helena Hed, President and CEO
Phone: +46 10‐516 00 00
E-mail: helena.hed@pe.se

Liselotte Haglind, CFO
Mobile: +46 10-516 05 87
E-mail: liselotte.haglind@pe.se

THIS INFORMATION IS INFORMATION THAT PROJEKTENGAGEMANG SWEDEN AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION AND THE SECURITIES MARKETS ACT. THIS INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSONS, AT 07:30 CET 15 JULY 2022.

This is a translation of the Swedish original. The Swedish text is the binding version and shall prevail in the event of any discrepancies.

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