Continued focus on profitability and organic growth
» Revenue increased by 20 per cent to SEK 442.0 million (368.6)
» Operating profit was SEK 0.2 million (17.8)
» Operating margin amounted to 0.0 per cent (4.8)
» Profit after tax was SEK 0.7 million (12.4)
» Earnings per share before dilution were SEK 0.04 (1.09)
» Diluted earnings per share were SEK 0.04 (1.09)
» Revenue increased by 20 per cent to SEK 880.9 million (733.3)
» Operating profit was SEK 13.6 million (44.4)
» Operating margin amounted to 1.5 per cent (6.1)
» Profit after tax was SEK 9.0 million (36.5)
» Earnings per share before dilution were SEK 0.74 (3.22)
» Diluted earnings per share were SEK 0.73 (3.22)
Statement from President and CEO Peter Rejler
Compared to the previous year, Rejlers showed growth of 20 per cent over the
quarter, around half of which came through acquisitions. The second quarter was
characterised by a continued focus on boosting the company’s efficiency and
The fall in profit for the second quarter is mainly explained by operations in
Norway, which is reporting a loss. These operations are in a coordination and
expansion phase, meaning that the profit for the quarter was affected by
expenses related to the merger of five companies on 1 July. Several project
losses had an impact on profitability during the quarter. Measures have been
taken to improve profitability in Norway and a continued review of unprofitable
operations will continue in the coming quarter. An improvement in the operating
profit is expected thanks to streamlining the administration and focusing on
assignment management and cost savings.
Operations in Sweden have a good level of activity and demand. Profit for the
quarter has been adversely affected by retroactive pension premiums relating to
2013. We see a continued solid earnings performance in Sweden. Despite the weak
economy in Finland, we are seeing a small recovery on the market and the level
of activity is improving. We are continuing to grow within profitable markets in
Finland such as energy and telecommunications.
We are facing several challenges in our work to increase profitability, yet I
can also see many opportunities. We are well positioned in each of our markets
and we have increased our sales activities. We are experiencing a general
improvement in demand within the industry. Infrastructure investments are also
continuing to provide us with assignments, at the same time energy projects are
on the increase. We expect to achieve our growth target 3x2015 primarily through
organic growth in the Nordic region.
For further information, please contact:
Peter Rejler, President and CEO, tel. +46 (0)70 602 34 24, e-mail:
Eva K Nygren, CFO, tel. +46 (0)73 412 59 60, e-mail: email@example.com
Rejlers is one of the largest engineering consultancy firms in the Nordic
region. Our 1,800 experts work with projects within the areas of Building and
property, Energy, Industry and Infrastructure. With us, you will meet specialist
engineers with the breadth, cutting edge expertise and not least energy to
create the results you want. We are continuing to grow rapidly and our
activities are spread across 80 locations in Sweden, Finland and Norway. In 2013
Rejlers had revenue of approx. SEK 1.5 billion and its Class B share is listed
on the Nasdaq OMX, Nordic list.
The information in this interim report is that which Rejlers AB is required to
publish in compliance with the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was released for publication
on 25 July 2014 at 8.00 am. This interim report is also available in Swedish.
The English version is a translation of the Swedish original. In the case of any
discrepancy between the two, the Swedish version takes precedence.
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.