STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
July – September 2013
- Sales amounted to SEK 249.3 million (273.9)
- EBIT was SEK 8.6 million (-2.9)
- EBIT margin was 3.4 % (-1.1)
- Net profit after tax for the period was SEK 4.8 million (-4.3)
- Earnings per share were SEK 0.03 (-0.08)
January – September 2013
- Sales amounted to SEK 881.8 million (985.5)
- EBIT was SEK 38.1 million (-1.0)
- EBIT margin was 4.3 % (-0.1)
- Net profit after tax for the period was SEK 25.2 million (-16.4)
- Earnings per share were SEK 0.14 (-0.29)
- Cybercom won a contract with Wireless Maingate for M2M
- Cybercom opened a project office in Kista for agile development close to a client
- Cybercom won an assignment from the eGovernment Delegation for IT standardisation in social services
- A new framework agreement was signed with the Swedish Tax Agency
- Saab appointed Cybercom as a preferred supplier
- Cybercom was named the best IT workplace 2013 in Poland
Comments from the CEO
The third quarter of the year has been a relatively quiet but stable business period. During the quarter we expanded our business with Ericsson, won significant new business with MTV Oy, Helsingin Energia and Wireless Maingate. In addition, we have extended many of our current assignments and secured a large part of our sales base. I am also pleased that we have won the trust of new and exciting clients such as the eGovernment Delegation in Sweden and Celcom Malaysia.
Cybercom’s sales in the third quarter amounted to SEK 249.3 million (273.9). This is a decrease of 9%, which is partly due to a slightly weaker market and partly due to the restructuring carried out at the end of last year. We have significantly strengthened our EBIT compared to the same period last year, to SEK 8.6 million (-2.9), resulting in an operating margin of 3.4% (-1.1). Net profit after tax for the period increased to SEK 4.8 million (-4.3).
The Nordic market was characterised by an unusually long summer period, resulting in a slow start after the holidays. This mainly affected our operations in Sweden. In September, however, business activities increased and we are now seeing a good influx of inquiries, even for large undertakings. At the same time, we are experiencing long decision times and, among some of our larger clients in the industrial segment, there is a reluctance to make investment decisions. It is difficult to interpret market trends for the remainder of the year.
Cybercom continues to develop according to our established strategy, through which we are growing with selected client accounts and balancing our client portfolio through a greater proportion of business in the public sector and industry. We are well positioned in Connectivity and this is an area where demand is expected to grow.
Our main focus is to ensure that our strategic shift takes place according to plan, with long-term sustainable change so that we achieve our financial targets.
Finally, I would like to highlight the fine distinction that Cybercom received in Poland during September when the AudIT Survey 2013, conducted by Computer World, voted us the best IT workplace 2013. We are proud of this achievement.
Stockholm, October 25, 2013
President and CEO
Cybercom is an IT consulting company that assists leading companies and organisations to benefit from the opportunities of the connected world. The company’s areas of expertise span the entire ecosystem of communications services. Cybercom’s domestic market is the Nordic region, and in addition the company offers global delivery capacity for local and international business. Cybercom was founded in 1995 and has been quoted on the NASDAQ OMX Stockholm exchange since 1999.
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