POOLIA INTERIM REPORT 1 JANUARY – 30 JUNE 2014

STOCKHOLM, Sweden--()--Regulatory News:

Continuing focus on increased sales and improved profitability

Quarterly period April-June, continuing operations

Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

-- Poolia's revenue amounted to SEK 176.8 (188.2) million, a decline of 6.1%.

-- Operating profit/loss was SEK -3.1 (-3.0) million, with an operating margin of -1.7% (-1.6%).

-- Profit/loss before tax was SEK -3.1 (-3.0) million.

-- Profit/loss after tax was SEK -2.8 (-2.2) million.

-- Earnings per share amounted to SEK -0.16 (-0.13).

-- Cash flow from operations for the quarter was SEK 2.4 (7.1) million.

Discontinued operations

-- Profit/loss from discontinued operations was SEK 0.0

(-2.4) million in the second quarter and SEK -1.6 (-3.4) million in the period January-June.

-- Cash flow from divested operations, including the sale of the UK operations, during the period January-June was SEK 7.1 million.

Interim period January-June, continuing operations

Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

-- Poolia's revenue amounted to SEK 358.4 (382.4) million, a decline of 6.3%.

-- Operating profit/loss was SEK 0.9 (1.4) million, with an operating margin of 0.3% (0.4%).

-- Profit/loss before tax was SEK 0.7 (1.3) million.

-- Profit/loss after tax was SEK -0.1 (1.1) million.

-- Earnings per share amounted to SEK -0.01 (0.07).

-- Cash flow from operations for the period was SEK 10.1 (12.8) million.

-- The equity/assets ratio ended the period at 30.7% (30.2%), and the Group’s equity per share was SEK 3.79 (4.50).

From the CEO - "Continuing focus on increased sales and improved profitability"

Poolia's revenues for continuing operations in the second quarter showed a decline of SEK 11.4 million (6.1%) compared with the second quarter of 2013. Operating profit/loss for the same period was SEK -3.1 (-3.0) million.

The Swedish business accounted for 68% of the Group's revenue during the quarter. Poolia’s sales and profitability were too low during the period, this partly due to seasonality, with fewer working days than in other quarters. The cost of unplaced resource temps did not start to fall until the end of the period. During the quarter, we incurred transition of costs of SEK 3.0 million (SEK 4.4 million for the year-to-date).

Poolia's German business is developing well, showing growth of 41% and a significant increase in operating profit. Our Finnish operations also had a good second quarter. Growth compared with the second quarter of the previous year was 61%, still with an acceptable operating profit.

Poolia Group's revenues from continuing operations decreased by SEK 24.0 million (6.3%) during the first half of 2014.

Operating profit for the same period amounted to SEK 0.9 (1.4) million, leaving an operating margin of 0.3% (0.4%).

Cash flow for the period was SEK 10.1 (12.8) million. The Group's liquidity is good.

Poolia's operations in Sweden need to be improved significantly. The competitive situation in Sweden is tough, and Poolia has not been able to adapt its core business to the prevailing situation. This has resulted in a downturn in revenue, reduced market share and negative profitability. To return Poolia Sweden to a positive trend, we are carrying out a programme of measures that aim not only to cut costs by SEK 15 million on an annual basis, but also to increase market presence in the form of intensified sales and marketing.

Poolia is an important company in an industry that develops the Swedish labour market. We have a good future and we must manage it in the best possible way.

Morten Werner

Managing Director and CEO

http://mb.cision.com/Main/1869/9618687/268283.pdf

Poolia’s business concept is to provide companies and organisations with the skills that, either temporarily or permanently, meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent placement of professional staff in our focus areas of Finance & Accounting, Financial Services, Office Support, IT, Life Science & Engineering, Sales and Marketing, Human Resources, Legal, and Executive Search. Poolia has business in Sweden, Finland and Germany. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.

This information was brought to you by Cision http://news.cision.com

Contacts

Contact person:
Morten Werner, MD and CEO, tel: +46 70 636 25 25

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Contacts

Contact person:
Morten Werner, MD and CEO, tel: +46 70 636 25 25