Year-End Report, January – December 2017: Ework finishes 2017 strongly

By , in PR PR Sci/Tech on .

“Ework concluded 2017 with a strong fourth quarter. Net sales were up by 17%, and we achieved high earnings growth again, of 23% year on year. We executed intensive development work, creating the potential for us to achieve our long-term targets for 2020.â€�

Extract from CEO Zoran Covic’s commentary to the Year-End Report

Fourth quarter 2017 compared to the corresponding period of 2016

  • Net sales increased by 17% to SEK 2,714 M (2,320).
  • EBIT for the period was up by 23% to SEK 36.0 M (29.3).
  • Order intake amounted to SEK 4,590 M (3,917) for the fourth quarter, a 17% increase.
  • Earnings per share after dilution increased by 17% to SEK 1.57 (1.34).
  • At their maximum, the number of consultants on assignment was 8,550 (7,240).
  • CEO Zoran Covic and Deputy CEO Magnus Eriksson purchased 90,000 and 72,000 shares of Ework Group AB respectively from major shareholders Salénia AB and Magnus Berglind.

Full year 2017 compared to the corresponding period of 2016

  • Net sales increased by 25% to SEK 9,503 M (7,585).
  • EBIT increased by 14% to SEK 106.3 M (92.9).
  • Earnings per share after dilution increased by 10% to SEK 4.65 (4.21).
  • Demand was high right through the period, and Ework judges that it won market shares on a growing market.
  • Order intake for the full year amounted to SEK 13,509 M (11,063), a 22% increase.
  • The Board of Directors has decided to propose a dividend of SEK 4.50 (4.00) per share to the AGM.

The complete Year-End 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
Magnus Eriksson, deputy CEO and CFO, 46 (0) 8 50 60 55 00, 46 (0) 733 82 84 80

About Ework

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 over 8,000 consultants on assignment. Ework’s head office is in Stockholm. Its shares are listed on Nasdaq Stockholm.

The information disclosed in this Year-End Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU Market Abuse Regulation. This information will be submitted for publication at 08:00 a.m. (CET) on 7 February 2018. This Year-End Report has not been reviewed by the company’s auditors.

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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