Year-end Report Rejlers AB 2014

Improved profitability in the fourth quarter
Fourth quarter
» Revenue increased by 12 per cent to SEK 464.1 million (414.9)
» Operating profit was SEK 32.5 million (10.4)
» The operating margin amounted to 7.0 per cent (2.5)
» Profit after tax was SEK 24.7 million (7.4)
» Earnings per share before dilution were SEK 2.01 (0.65)
» Diluted earnings per share were SEK 2.01 (0.65)
January–December
» Revenue increased by 17 per cent to SEK 1,711.5 million (1,464.7)
» Operating profit was SEK 48.6 million (66.0)
» The operating margin amounted to 2.8 per cent (4.5)
» Profit after tax was SEK 33.9 million (50.7)
» Earnings per share before dilution were SEK 2.78 (4.45)
» Diluted earnings per share were SEK 2.75 (4.44)
» The Board proposes an unchanged dividend of SEK 2.00 per share (2.00)
Statement from President and CEO Peter Rejler
Compared to last year, Rejlers showed growth of 12 per cent over the quarter, 7
per cent of which came through organic growth. The fourth quarter shows improved
profitability in line with our target of an 8 per cent operating margin over the
course of a business cycle. The improvement in profit is mainly due to a greater
volume of orders in Sweden and Finland compared to the previous year. Due to
strong cash flow, we have an unchanged dividend.
I believe we will see a positive trend for Rejlers’ services in 2015. The
infrastructure and energy market is maintaining a high level of investment, and
the market situation is good for construction investments in cities. We are also
seeing signs of the industrial market stabilising. Recruitment is a priority
area for meeting the demand for our services.
In Sweden, this demand has risen, especially within telecommunications and the
energy sector. In the second half of the year we restructured operations in
Sweden, which temporarily led to a lower level of organic growth.
In Finland, our volume of orders has improved signifi-cantly despite the weak
economy. We have focused on adapting our operations to profitable areas and
developed new services to meet the needs of the market. We see good
opportunities for continued growth in the area of infrastructure and energy, and
we have won new industrial assignments.
In Norway, we have started to see the effects of the programmes of measures and
the restructuring implemented successively in 2014. We do, however, need to
increase the volume of orders and further canvass the market in order to achieve
satisfactory profitability in Norway.
I now have many building blocks in place, and it is in-spiring to develop
operations together with my employees. There are favorable conditions to grow in
areas with good profitability, and I expect that we will reach our previous
growth target 3x2015. We will achieve our new growth target 2020-3030-4040 by
being the most successful and healthy company in our industry in the Nordic
region.
For further information:
Peter Rejler, President and CEO, tel. +46 (0)70 602 34 24, e-mail:
peter.rejler@rejlers.se
Mats Åström, CFO, tel. +46 (0)72 050 22 40, e-mail: mats.astrom@rejlers.se
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
2014, Rejlers had revenue of SEK 1.7 billion and its Class B share is listed on
the Nordic list of Nasdaq OMX.