Interim Report January - September 2009 • Decline in sales compared with previous year • Reduced demand, particularly in sectors sensitive to economic fluctuations • Several framework agreements signed with major customers both at Nordic level and in eWork's four national Nordic markets • Implementation of a rationalisation program, which has burdened Q3 results with reorganisation costs of SEK 3.4 million. The program will reduce costs in 2010 by about SEK 21 million compared with 2009. NINE-MONTH PERIOD (JANUARY - SEPTEMBER 2009) • Net sales amounted to SEK 1,228.9 million (1,358.4) • Operating profit was SEK 10.8 million (32.8) • Profit after tax amounted to SEK 7.3 million (24.8) • Excluding reorganisation costs of SEK 3.4 million the operating profit amounted to SEK 14.2 million (32.8) • Cash flow from current operations was SEK -22.2 million (9.2) • Operating margin was 0.9 percent (2.4) • Earnings per share (EPS) after tax amounted to SEK 0.44 (1.49). THIRD QUARTER (JULY - SEPTEMBER 2009) • Net sales amounted to SEK 326.6 million (423.5) • Operating profit was SEK 0,9 million (10.0) • Loss after tax amounted to SEK -0.0 million (profit: 7.7) • Excluding reorganisation costs of SEK 3.4 million, the operating profit amounted to SEK 4.2 million (10.0) • Cash flow from current operations was SEK 13.1 million (-3.3) • Operating margin was 0.3 percent (2.4) • Earnings per share (EPS) after tax amounted to SEK -0.01 (0.46). eWork is the leading consultant broker in the Nordic region. We collaborate with specialised small and medium-sized consulting firms, and can therefore offer our customers the Region's most skilful and experienced consultants within many specialised areas, including IT, telecom, technology, and management consultants. For further information, please contact: Claes Ruthberg, President and CEO, +46 8 50 60 55 00 or Sofie König, Marketing Manager, eWork Scandinavia AB, +46 8 50 60 55 00, +46 7 515 49 83 or Ulf Henning, CFO, eWork Scandinavia AB, +46 8 50 60 55 00
Interim Report January - September 2009
| Source: eWork Group AB
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