Cybercom Group Year-end financial report 2009

Cybercom Group Year-end financial report 2009

October - December

• Sales reached SEK 446.3 million (484.2)

• EBITDA margin of 11.0% (10.5) 

• EBIT margin of 8.7% (8.4) 

• EPS of SEK 0.74 (2.36)

• Breakthrough in Asia with five new operators 


January - December

• Sales reached SEK 1,751.6 million (1,781.1)

• EBITDA margin of 8.2% (10.9) 

• EPS loss of SEK 6.23 (EPS of 4.92)

• Financial measures during the year
- Goodwill write-down of SEK 280 million
- New share issue of SEK 100 million
- Offset share issue of SEK 27.7 million 
- Restructuring costs totalling SEK 28.2 million

• Key event after year-end
- Adaption of operations in southern Sweden, layoffs announced affecting 80
people 


Improved margins in Q4 and many new deals 

Cybercom stands stronger now than one year ago. During a year of tough market
conditions, we improved our cost-efficiency, and our EBITDA margin was 11.0% for
Q4. The equity/assets ratio was 52.3% as of 31 December, and cash flow from 2009
operating activities was SEK 128.4 million. We intensified our sales and
marketing activities and made breakthroughs with new customers, such as the
major operators in Asia and public sector players in the Nordic market. We
expanded our presence to encompass additional markets to meet customers'
requests.

Cybercom's specialist expertise has earned international recognition,
particularly in IT security and internet and mobile services, for which we have
strong Nordic references. In 2009 we also received increased interest in these
fields from customers in Asia, including an Android development deal for China
Mobile. New customers Bharti Airtel and MobiFone, the largest operators in India
and Vietnam, respectively, are further good examples.

The 2009 recession led to customers in the Nordic IT services market pressing
prices, reducing their number of suppliers, and postponing closing deals. We
carried out various activities during the year to adapt the company to the
prevailing economic situation and to create a stable platform for long-term,
global growth. 

Despite a weak market, the level of enquiries about new assignments remained
high. As a result, capacity utilisation in most of our units has been higher in
Q4 than the previous year. We have rapidly acted to adapt to the change in
demand by expanding our operations to eastern Europe and Asia to offer an
attractive global sourcing business model. This strategy is already producing
clear results. We are expanding outside the Nordics with international
assignments and we grew 61% in Asia in 2009. We have resumed recruitment in the
Nordic capitals where we have already established our presence, because we
anticipate a better market in 2010.

The prevailing market still holds major challenges, but also many opportunities.
Globalisation plays an important part and we will continue to develop the
company in line with our strategy. We are building an international Cybercom,
with a geographic structure designed for long-term business.

Stockholm, 10 February 2010


Patrik Boman
President and CEO

For more information, please contact:

Patrik Boman, president and CEO + 46 73 983 89 79
Odd Bolin, CFO + 46 70 428 31 73
Kristina Cato, communications and IR manager	+ 46 70 864 47 02


The Cybercom Group is an IT consultancy that offers global delivery capacity for
local and international deals. The Group is a recognised supplier in security,
portals, mobile solutions, embedded systems, and telecom management. Thanks to
its extensive industry and operations experience, Cybercom offers strategic and
technical expertise in telecom, industry, media, the public sector, retail, and
banking and financial services. Cybercom's consultants operate around the world
and the company has 28 offices in 11 countries. Cybercom was founded in 1995 and
has been quoted on the NASDAQ OMX Nordic exchange since 1999.