Rejlers' Interim Report, January-September 2011

Continued good demand and growth

January-September

• Revenue totalled SEK 823.3 million (586.2), an increase of 40 per cent
• The operating profit was SEK 73.9 million (31.8)
• The operating margin was 9.0 per cent (5.4)
• The profit after tax was SEK 50.7 million (23.4)
• Earnings per share were SEK 4.48 (2.16)

Third quarter

• Revenue totalled SEK 249.9 million (174.5), an increase of 43 per cent
• The operating profit was SEK 22.0 million (9.3)
• The operating margin was 8.8 per cent (5.3)
• The profit after tax was SEK 15.3 million (6.8)
• Earnings per share were SEK 1.35 (0.63)

Statement from Managing Director and Group CEO Peter Rejler
The demand of Rejlers services continues to grow strongly and this quarter was our best third quarter ever. The economic turmoil creates some uncertainty about how the economy will evolve over the next year, especially for the industrial sector.

During the quarter we completed the acquisition of the first 49 per cent of the shares in Nettkonsult. This gives us an increased presence in the Norwegian market and increased sales in the energy sector. It is our belief that the Norwegian energy market will be seeing major investments in areas including electric mains, which will create high demand for consultants. To strengthen our competence in the field of mine and tunnel ventilation, Nitek was acquired during the quarter.

During the quarter customers entrusted us with several new assignments. These include a framework agreement with the Norwegian National Rail Administration, an assignment from E.ON in respect of new electric mains in Jämtland, and planning assignments in the construction and property including electricity and telecommunication for Finnair's new head office at Helsinki Airport.

We continue to grow strongly through employee recruitment, with a net increase of 121 employees this year. Growth in revenue so far in 2011 has been 40 per cent compared with 2010, evenly distributed between acquisitions and organic growth. My confidence that we will achieve our objective of 3 x 2015 has increased, i.e. by the year 2015 we will have revenue of at least SEK 2,015 million and at least 2,015 employees, in view of our strong development in recent years.


For further information, please contact:
Peter Rejler, MD and CEO Tel. +46 (0)70 602 34 24, e-mail: peter.rejler@rejlers.com
Lars Solin, CFO Tel. +46 (0)73 386 15 20, e-mail: lars.solin@rejlers.com

Rejlers is a Nordic Group offering technical consultancy services in the fields of electrical engineering, energy, mechanical engineering, automation, electronics, IT and telecommunications. Rejlers' shares are listed on the Nasdaq OMX Nordic Exchange.