Ework Group publishes Year End Report, January – December 2022: Record-setting quarter, continued capturing new business and market share
Ework Group AB (publ) concluded a successful year with the highest order intake, sales, and operating profit for an individual quarter. Order intake for the fourth quarter increased just over 12 per cent to nearly SEK 8.9 billion. Net sales rose 21 percent to just under SEK 4.7 billion, while operating profit increased to SEK 54.8 M (42.3). Costs continued to display a slower rate of increase, which demonstrated the economies of scale in the operation. There is a proposal to raise the dividend for the financial year 30 percent to SEK 6.50 per share.
Fourth quarter 2022 compared to the corresponding quarter 2021
- Net sales grew by 21% to SEK 4,687 million (3,862). The increase was due to Ework winning new business and capturing market share as a result of the active initiatives to meet client needs.
- Operating profit rose 30 per cent to SEK 54.8 M (42.3). The improvement to earnings is attributable to continued growth, and the associated economies of scale.
- Operating margin (EBIT) increased to 120 bps (110)
- Profit after financial items increased 30 percent to SEK 53.5 M (41.3)
- Order intake grew by 12 percent to SEK 8,895 million (7,920)
- The number of professionals on assignment averaged 13,742 (11,856)
- Earnings after tax and per share after dilution amounted to SEK 2.50 (1.92), an increase of 30.2 per cent
Full-year 2022 compared to full-year 2021
- Net sales rose 22 percent to SEK 16,070 M (13,189)
- Operating profit increased 44 per cent to SEK 183 M (127)
- Profit after financial items increased 41 per cent to SEK 175.6 M (124)
- Earnings after tax and per share after dilution amounted to SEK 8.05 (5.68), an increase of 41.7 percent
- The Board of Directors has decided to propose a dividend of SEK 6.50 per share to the upcoming Annual General Meeting.
- Ework believes that the Group will grow more rapidly than the market and report continued improvements to its operating margin for 2023
Subsequent events
- The Board of Directors of Ework Group decided on financial targets for the Group.
The complete Interim Report is available via link below or at www.eworkgroup.com.
At 1 pm CET, 9th February, CEO Karin Schreil and CFO Klas Rewelj will present (in Swedish) the company’s interim report for the fourth quarter and Full Year 2022.
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