New Business Update - Ayima Group AB

Further to our previous summary provided in the Q2 Report, Ayima wishes to announce some recent new business wins and a brief update on current business conditions.

During Q3, Ayima won 36 new business contracts, comprising approximately 23.1 MSEK in annualised revenue. These new contracts include new projects or increased scope for some existing clients as well as entirely new clients. The new wins include a global leader in dietary products, a leading US-based commercial bank, a UK-based erotic toys website and a Canadian Investment bank.

The vast majority of the new business is recurring, based on Ayima’s standard 12-month rolling contracts.

While the new business situation is improving, Ayima still sees a general lack of confidence in the sectors it operates in, indicating worry about the global financial situation. This is resulting in delays to project commencements and contracts, and reduced budgets or paused projects from existing clients. As such, Ayima expects its Q3 results to be broadly in line with the previous quarter and we are continuing to look at potential cost savings across the operation in order to increase profitability in the short term.

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