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    EWRK   SE0002402701

EWORK GROUP AB (PUBL)

(EWRK)
  Report
Delayed Nasdaq Stockholm  -  11:29 2022-06-23 am EDT
120.00 SEK   -1.80%
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Ework Group AB (publ) publishes Interim Report, January – June 2020: Ework keeps winning business on an uncertain market

07/16/2020 | 05:11am EDT

2020-07-16

'We can sum up a challenging quarter featuring the global covid-19 pandemic. With revenue down by 4% and EBIT of SEK 30 M, just below the previous year, Ework fared relatively well in the quarter. Demand has turned upwards, but not to previous levels, and uncertainty remains substantial.'

Extract from CEO Zoran Covics commentary to the Interim Report


Second quarter 2020 compared to 2019

· Net sales decreased by 4% to SEK 3,121 M (3,249).

· EBIT decreased by 3% to SEK 29.9 M (30.7).

· Profit after financial items decreased by 7% to SEK 25.5 M (27.5).

· Order intake decreased by 14% to SEK 4,026 M (4,675).

· Earnings per share after tax before and after dilution were SEK 1.18 (1.23), an 4% decrease.

· The downturn of net sales and earnings is due to lower demand and client projects terminated due to covid-19. These effects have been limited by rapid action to reduce costs.

· Earnings include government covid-19 support, which improved it by SEK 3.3 M.

· SEK 4.1 M (0) of restructuring expenses were charged to earnings.

· Ework continued to win new customers of which several was won with the digital platform Verama as an important element.

First half-year 2020 compared to 2019

· Net sales increased by 2% to SEK 6,534 M (6,377).

· EBIT increased by 2% to SEK 58.3 M (57.1).

· Profit after financial items increased by 2% to SEK 53.0 M (51.9).

· Earnings per share after tax before and after dilution were SEK 2.49 (2.34), an 6% increase.

The complete Interim Report is available via link below or at www.eworkgroup.com

For further information, please contact:Zoran Covic, CEO, 46 (0) 706 65 65 17

Ola Maalsnes, CFO, 46 (0) 8 50 60 55 00, 46 (0) 738 68 22 90

This Report has not been subject to review by the company's auditor.
The information disclosed in this Interim Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU's Market Abuse Regulation (MAR). This information was submitted for publication at 11:00 a.m. (CET) on 16 July 2020, through the agency of the CEO.

Ework Group is a market-leading and independent consultant provider operating in northern Europe, which focuses on IT, telecom, technology, and business development. Without having consultants employed, Ework can impartially match every assignment with the right competence from the whole market. Ework was founded in Sweden in 2000, and is now active in Sweden, Denmark, Norway, Finland and Poland. The firm has framework agreements with over 170 leading corporations in most sectors, and approximately 10,000 consultants on assignment. Ework's head office is in Stockholm. Its shares are listed on Nasdaq Stockholm.

Disclaimer

eWork Group AB published this content on 16 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2020 09:10:01 UTC


© Publicnow 2020
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Financials
Sales 2022 15 498 M 1 530 M 1 530 M
Net income 2022 123 M 12,1 M 12,1 M
Net Debt 2022 3,00 M 0,30 M 0,30 M
P/E ratio 2022 16,9x
Yield 2022 4,58%
Capitalization 2 069 M 204 M 204 M
EV / Sales 2022 0,13x
EV / Sales 2023 0,12x
Nbr of Employees 297
Free-Float 32,1%
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Managers and Directors
Karin Schreil Chief Executive Officer
Klas Henrik Rewelj Chief Financial Officer
Sven Staffan Folke Salén Chairman
Magnus Eriksson Chief Operating Officer, Executive VP & Deputy CEO
Magnus Berglind Independent Director
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