ACANDO INTERIM REPORTJANUARY 1 - SEPTEMBER 30, 2011

ACANDO INTERIM REPORTJANUARY 1 - SEPTEMBER 30, 2011

 

Third quarter - July 1 - September 30, 2011

  · Net sales SEK 326 m (318)
  · Operating profit SEK 4 m (12). Excluding previously communicated
nonrecurring
costs attributable to the disposal of operations in Denmark, operating
profit totaled SEK 23 m (12).
  · Operating margin 1.4% (3.7%)
  · Loss after tax SEK 3 m (profit: 6)
  · Earnings per share after dilution were negative in an amount of SEK
0.04 (positive: 0.07).
Earnings per share after dilution and excluding nonrecurring costs
attributable to the disposal of operations in Denmark amounted to
SEK 0.22 (0.07).

January 1 - September 30, 2011

  · Net sales SEK 1,109 m (1,053)
  · Operating profit SEK 63 m (46). Excluding previously communicated
nonrecurring
costs attributable to the disposal of operations in Denmark, operating
profit totaled SEK 82 m (46).
  · Operating margin 5.7% (4.3%)
  · Profit after tax SEK 37 m (30)
  · Earnings per share after dilution SEK 0.49 (0.39).
Earnings per share after dilution and excluding nonrecurring costs
attributable to the disposal of operations in Denmark amounted to
SEK 0.75 (0.39).
  · Cash and cash equivalents were SEK 99 m (71).

Statement by Carl-Magnus Månsson, CEO

Our continued efforts to improve profitability and realign the
assignment mix towards more deliveries in project form have delivered
results. Excluding nonrecurring costs attributable to the disposal of
operations in Denmark as communicated earlier, the operating margin has
improved by 3.4 percentage points compared with the same period in 2010.
Our major markets are making a positive contribution to our margin
trend. In Sweden and Germany scope exists for additional improvement in
margins, as the new employees that started in the autumn are phased into
customer projects.

Demand remained stable during the quarter and we have seen no signs of
an immediate slowdown. However, we have noted that certain decision
processes for major projects have become longer.

In October, we asked 100 of our major customers in Sweden how the
current macroeconomic trend impacted their operations. Half of those
asked responded that they had either decided for or considered
efficiency measures even though only one in ten had been able to note
any negative impact on demand. A majority, seven out of ten, say they
are prioritizing the implementation of efficiency programs and
reprioritizing investment projects as the key measures, followed by
hiring freezes and reduced staffing levels.

Acando's offering to our customers is well-placed to meet the need for
enhanced business efficiency and business development. Our three main
offerings, Management Consulting, Enterprise Solutions and IT Consulting
collaborate in the endeavor to create measurable results in every
customer assignment. We continue to recruit in all skills areas and
geographic markets. Through offering the market's most interesting
assignments in project form, we wish to attract and retain the best
employees.

For further information, please contact:
Carl-Magnus Månsson, President and CEO
+46 8 699 73 77
Lotta Jarleryd, CFO
+46 8 699 74 14