"The success of our MSP business, promising business conditions for our subsidiaries and the appointment of my successor Zoran Covic all bode well for eWork’s future."
Extract from President and CEO Claes Ruthberg's comment to the year-end report. Fourth quarter 2013 compared with 2012
· Net sales increased by 9.6 percent to SEK 1,106.1 million (1,009.2). · Operating profit was SK 9.5 million (18.3). · Order intake increased by 21 percent, totalling SEK 1,902.5 million (1,571). · Profit after tax per share after dilution was SEK 0.37 (0.82). · Zoran Covic appointed new President and CEO of eWork, effective from 17 March 2014. · After the end of the period, eWork signed a significant MSP agreement with Tieto. In the period, eWork extended its collaboration agreement with Sony Mobile Communication, signed a new MSP agreement with Nasdaq OMX and new framework agreements with organisations including The Swedish Defence Materiel Administration (FMV). · Savings measures completed in the quarter generated some SEK 3 million in non-recurring costs. · The Board of Directors resolved to propose the AGM dividends of SEK 2.50 per share (2.50).
Full year 2013 compared with 2012
· Net sales increased by 6.9 percent to SEK 3,767.9 million (3,525.1). · Operating profit decreased to SEK 42.8 million (61.9). · Profit after tax per share after dilution was SEK 1.89 (2.75). · Standard contracts made somewhat negative progress in the year, as a result of hesitant market demand with fewer new consultant appointments, and because of the expiry of a major framework agreement in the year that wasn’t renewed. · eWork saw good demand for takeover business and MSP collaborations, which ensured growth despite hesitant demand. · The lower operating profit is mainly due to fewer standard contracts and the initial costs associated with developing the MSP businesses. For further information please contact: Claes Ruthberg, CEO 46-70-3746475, E-mail: email@example.comMagnus Eriksson, CFO, 46 733 82 84 80, E-mail: firstname.lastname@example.orgWork Scandinavia AB is a complete consulting provider with over 3,500 consultants on assignment within the fields of IT, telecoms, technology, and business development. eWork provides an objective selection of specialists from the largest consultant network on the market, which brings clients better pricing, quality and time efficiency. eWork has framework agreements with more than 130 clients among the Nordic region's leading companies active in most sectors. The Company's share is listed on Nasdaq OMX Stockholm. eWork is located in Stockholm, Gothenburg, MalmÖ, LinkÖping, Oslo, Copenhagen and Helsinki.
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