Ework Group publishes Interim Report, January – March 2023: High rate of growth, increased order intake, and good margin

Ework Group had a good start to the year, and could report a continued two-figure growth rate of 16 percent. Despite a gradually more cautious market during the quarter, order intake increased 4.3 percent compared with Q1 2022, which was strongly characterized by pent-up post-pandemic demand. In accordance with plans, we maintained our EBIT margin of 120 base points for the quarter.

Q1 2023 compared with Q1 2022

• Net sales grew by 16% to SEK 4,567 million (3,924).
• Operating profit rose 14 percent to SEK 53.7 M (47). The improvement to operating profit is attributable to strong growth.
• Operating margin (EBIT) was 120 bps (120).
• Profit after financial items increased 15.5 percent to SEK 52 M (45).
• Order intake grew by 4.3 percent to SEK 5,082 million (4,873).
• The number of professionals on assignment averaged 13,037 (11,787).
• Earnings after tax and per share after dilution amounted to SEK 2.36 (2.05), an increase of 15 percent

LTM to March 31, compared with full-year 2022

• Net sales rose 4 percent to SEK 16,712 M (16,070).
• Operating profit increased 3.7 percent to SEK 189.8 M (183.1).
• Profit after financial items increased 4 percent to SEK 189.8 M (183.1).
• Earnings after tax and per share after dilution amounted to SEK 8.39 (8.05), an increase of 4.17 percent.

Outlook

• Ework’s belief that the Group will grow more rapidly than the market and report continued improvements to its operating margin for 2023 stands firm.

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

At 1 pm CEST, 25th April, CEO Karin Schreil and CFO Klas Rewelj will present (in Swedish) the company’s interim report for the first quarter 2023.
Register for the webcast
Register for the teleconference

For more information, please contact:
Karin Schreil, VD, Ework Group AB
Phone: +46 (0)70 794 58 83, e-mail: [email protected]

Klas Rewelj, CFO, Ework Group AB
Phone: +46 (0)70 626 54 24, e-mail: [email protected]

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 10:00 am (CEST) on 25 April 2023, through the agency of the CEO.
 

About Ework Group
Ework Group AB (publ) provides total talent solutions, with a focus on IT/OT, R&D, Engineering and Business Development and has today more than 13,000 independent professionals on assignment. Ework partners with clients in both the private and the public sector, and with professionals to create sustainable talent supply chains. Ework was founded in Sweden in 2000 and operates in Sweden, Denmark, Norway, Finland, and Poland with its head office in Stockholm. Ework’s shares are listed on Nasdaq Stockholm. www.eworkgroup.com