STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Rejlers AB (STO:REJLB)
Strategic acquisition in Norway
» Revenue increased by 4 per cent to SEK 380.1 million (366.5)
» The operating profit was SEK 18.9 million (2.5)
» The operating margin amounted to 5.0 per cent (0.7)
» Release of project reserves boosted profits by SEK 8.0 million
» Profit after tax totalled SEK 13.9 million (0.2)
» Earnings per share before and after dilution amounted to SEK 1.12 (SEK 0.02)
» Revenue increased by 3 per cent to SEK 1,288.8 million (1,247.4)
» The operating profit was SEK 61.9 million (16.1)
» The operating margin amounted to 4.8 per cent (1.3)
» Profit after tax totalled SEK 46.0 million (9.2)
» Earnings per share before dilution amounted to SEK 3.73 (SEK 0.76) and diluted earnings per share were SEK 3.73 (0.75)
Statement from President and CEO Peter Rejler
Rejlers saw its operating profit improve in the third quarter compared with the same period in the previous year, partly as a result of a slight increase in order volume and partly due to the release of project reserves. The aim is to successively improve the operating margin to 8 per cent over a business cycle.
Organic growth accounted for 4 per cent of growth, of which half was organic. After the end of the reporting period our workforce grew by 120 employees and our annual revenue increased by NOK 240 million through the acquisition of Embriq from the Hafslund group. Embriq supplies full scale IT services within the rationalisation of infrastructure and energy to customers across the Nordic area. The acquisition brings us a big step closer to our growth target and our strategic aim of achieving growth in digital engineering services. By focusing on business development and turnkey solutions, we are planning to increase revenue per employee and achieve our growth target of 2020-3030-4040.
The market outlook for our growth markets energy and infrastructure is good. Demand for our services involving energy efficiency and sustainable energy solutions is increasing in all our markets. We are seeing good growth in the electricity distribution sector, where the development of smart networks is fuelling investments. We see good opportunities for growth in the telecommunications market due to increased customer demand for turnkey solutions in Nordic region. New investments in residential and office construction are boosting demand for our expertise. The Finnish market remains weak, which has led to lower order volumes, particularly in the engineering industry.
We were awarded several important contracts in the third quarter. These include a large energy and telecommunications assignment which involves us providing technical assistance and project management for the construction of one of the world’s largest data centers in Norway. Rejlers Energitjänster has concluded an agreement with VÄRMEK in Sweden with the aim of providing VÄRMEK’s member companies access to an economical and efficient energy measurement system. We are providing project planning for HVAC building services and all technical systems for electricity, lighting, telecommunications and security for Mikkeli Central Hospital in Finland.
Thanks to its 2,000 engineers, Rejlers is now able to offer an ever broader range of specialist services and turnkey solutions. I am convinced that we will achieve our targets and continue to be an attractive workplace and the healthiest company in our industry in the Nordic countries.
Rejlers is one of the largest engineering consultancy firms in the Nordic region. Our 2,000 experts work with projects in the areas of Building and property, Energy, Industry and Infrastructure. At Rejlers, you will meet specialist engineers with the knowledge, cutting edge expertise and energy to achieve results. We are still experiencing rapid growth and can now be found in 80 locations in Sweden, Finland and Norway. Rejlers recorded revenue of SEK 1.7 billion in 2014 and its class B share is listed on NASDAQ Stockholm.
The information in this interim report is that which Rejlers AB is required to publish in compliance with the Swedish Securi-ties Market Act and/or the Swedish Financial Instruments Trading Act. This information was released for publication on 23 October 2015 at 08.00. This interim report is also available in Swedish. The English version is a translation of the Swedish original. In the case of any discrepancy between the two, the Swedish version takes precedence.
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