STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
FOURTH QUARTER OCTOBER 1 – DECEMBER 31, 2013
· Net sales SEK 405 m (410)
· Operating profit SEK 33 m (33)
· Operating margin 8.3% (8.1)
· Profit after tax SEK 26 m (21)
· Earnings per share SEK 0.37 (0.29)
ACCUMULATED JANUARY 1 – SEPTEMBER 31, 2013
· Net sales SEK 1,438 m (1,547)
· Operating profit SEK 66 m (114)
· Operating margin 4.6% (7.4)
· Profit after tax SEK 50 m (78)
· Earnings per share SEK 0.71 (1.09)
· Cash and cash equivalents SEK 99 m (115)
· The Board of Directors intends to propose that the Annual General Meeting resolve on a dividend of SEK 1.00 per share, corresponding to a total of approximately SEK 71 m.
Statement by Carl-Magnus Månsson, CEO
2013 ended with continued stabilization and improved demand in many of Acando’s markets and we can now see the effects of the streamlining measures and sales efforts implemented during the year. This was reflected in the earnings for the quarter, which were on par with the year-earlier period. The combination of our long-term relationships that provide insight into the unique situations of our customers with our ability to understand how to best apply the new opportunities from technology to operations is particularly noticeable now, when the pace of investment is again rising.
The market in Sweden has strengthened continuously and we need to recruit in all operations and geographic regions. We have entered a transition, in which our traditional IT consultancy operations are becoming increasingly oriented toward delivery of complete digital solutions based on prepackaged platforms. This also means an increased need for interaction between our various areas of operation: Management Consulting, Enterprise Solutions and Digital Solutions. It is Acando’s strength that we freely combine consultants from these three disciplines to deliver total solutions and, accordingly, it is gratifying to note an increased number of projects spanning all three of our operational areas.
In Sweden, we are particularly proud of our strong and innovative position in the Microsoft field, which was recognized by the Business Intelligence Partner of the Year Award. We particularly value this award since the motivation highlighted our ability to identify unique solutions to customers’ problems, which, yet again, showcases our distinct ability to combine business understanding with the possibilities of technology. We have noted sharply increasing demand for our Analytics services, not least, linked to the analysis of substantial quantities of data in real time and insight regarding customer behavior on digital channels.
Our operations in Germany ended the year with a slight recovery, particularly through a healthy profit trend relating to growth in southern Germany. Our focus on increasing volumes at existing customers has generated results, even if we continue to assess the market as challenging. We have now implemented the final part of our adaptation to the changed customer situation in Hamburg and, in 2014, will focus on continued bolstering of existing customer relationships and, thereby, create the conditions for higher utilization rates and margins in ongoing commitments.
In Norway, expansion continued successfully of our deliveries to the public sector based on a strong portfolio of framework agreements. The acquisition made in the third quarter has performed well, which means that we now hold a significant position in Oracle-based business solutions. However, our investment in Microsoft-based offerings followed a negative trend in the quarter with weak utilization rates as a consequence. A degree of improvement through business won at the start of 2014 and closer integration between Microsoft operations in Sweden and Norway mean, however, that we expect a recovery in 2014.
We turn the page on a year that was challenging from many aspects and face 2014 with confidence. During the year, we have taken the necessary measures to meet a market with focus on delivering solutions and changes that create immediate results. We stand well equipped for a year filled with exciting new assignments in a world of accelerating change.
This is information that Acando AB (publ) is obligated to disclose according to the Securities Market Act and/or the Financial Instruments Trading Act. This information was submitted for publication on February 4, 2014.
Acando is a consulting company that in partnership with its customers identifies and implements sustainable business enhancements through information technology. Acando provides a balance between high customer value, short project times and low total cost. Acando has annual sales of about SEK 1.5 billion and approximately 1,100 employees in five countries in Europe. The company is listed on the NASDAQ OMX Nordic exchange. Its corporate culture is based on the core values of Team Spirit, Results and Passion. www.acando.com
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