Sustained profit level as last year Acando's Interim Report 1 January-31 March 2009. Period 1 January - 31 March 2009 compared with the same period 2008 • Net sales amounted to SEK 409m (409), in line with previous year. • Operating profit, excluding restructuring costs, was SEK 42m (39), an increase of 8 percent. • Restructuring costs, regarding termination of personnel from the office in Gothenburg, amounts to SEK 20m. • Operating profit, including restructuring costs, was SEK 22m (39), a decrease of 44 percent. • Profit after tax was SEK 21m (52), a reduction of 60 percent. • Cash flow from operating activities was SEK 26m (41), a reduction of 36 percent. • The Group's cash and cash equivalents, including current investments, amounted to SEK 207m (108) as at 31 March 2009. • Earnings per share, including restructuring costs, after dilution amounted to SEK 0.27 (0.65), a reduction of 58 percent. Acando has a continued good demand even though the overall economic growth came to a halt during the fourth quarter of 2008. The operating profit, excluding restructuring costs, is satisfying, given the current market conditions. Acando's broad customer base has enabled a capacity move from customer segments with declining demand (such as the automobile industry in western Sweden) to customer segments that are still investing (such as the public sector in Norway). “Acando's significant presence within the public sector, the pharmaceutical and healthcare industry and the energy sector means that we are less exposed to major economic declines in other customer segments”, Acting CEO Bengt Lejdström explains. However, the market in western Sweden has changed dramatically, why the company adjusts both capacity and offering to the existing demand by reducing the number of consultants in the region. In total 40 employees from the Gothenburg office have terminated their employment, in accordance with the notice given on 4 February 2009. Carl-Magnus Månsson was appointed President and CEO in Acando AB, on 24 February 2009. He is currently Vice President and CIO (Chief Information Officer) for the Ericsson Group and commences as President and CEO for Acando 1 June, 2009. Bengt Lejdström continues as Acting CEO until that date. For full report see attached pdf. For further information, please contact Bengt Lejdström, Acting CEO and CFO, +46 8 699 73 14 Marianne Olsson, Communications Manager, +46 8 699 74 50. Acando is a consultancy company that in partnership with its clients identifies and implements business improvements through information enabled by technology. Acando provides a balance of high business value, short project times and low total cost. Acando's annual turnover exceeds EUR 150 million and the Group employs more than 1,100 professionals in six European countries. Acando is listed at NASDAQ OMX Nordic. Acando's corporate culture is based on three core values: Team spirit, Passion and Results. www.acando.com
Sustained profit level as last year
| Source: Acando AB