During the quarter, we closed several important deals with both new and existing clients. Two strategic global clients renewed their confidence in us, providing an exciting basis for more in-depth partnerships. We reached yet another milestone when we established operations in
Q1 2024 compared with Q1 2023
- Net sales decreased 7.3 percent to
SEK 4,225 M (4,558). -
EBIT fell 16.8 per cent to
SEK 44.7 M (53.7). -
Excluding restructuring costs, EBIT was
SEK 55.5 M. - The EBIT margin was 106 bps (118).
- Excluding items affecting comparability, the margin was 131 bps.
-
Profit after financial items decreased 12.1 percent to
SEK 45.7 M (52.0). -
Order intake decreased 11.8 percent to
SEK 4,483 M (5,082). - The number of professionals on assignment averaged 12,290 (13,037).
-
Earnings after tax and per share after dilution amounted to
SEK 2.11 (2.36), a decrease of 10.5 percent.
LTM to
- Net sales decreased 1.9 percent to
SEK 16,877 M (17,209). -
EBIT decreased 4.6 percent to
SEK 185.7 M (194.7). -
Profit after financial items decreased 3.8 percent to
SEK160.5 M (166.8). -
Earnings after tax and per share after dilution amounted to
SEK 7.2 (7.5), a decrease of 3.2 percent.
Outlook
The outlook remains unchanged, meaning that Ework anticipates that demand will gradually strengthen, and we will thus be able to show growth in late 2024. A decrease in sales is expected during the first half of the year as a result of lower demand and order intake, in line with our previous communications. A limited decrease in sales remains the forecast for full year 2024. After implemented cost reductions, and with a focus on increased value creation in our deliveries, we are seeing that we can gradually increase our business margins.
In line with our financial targets, we maintain our previous assessment that operating profit (EBIT) and earnings per share will increase by at least 30 percent for full-year 2024.
The complete report is available via link below or at www.eworkgroup.com.
Today, 2nd May, at
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Klas Rewelj, CFO,
Tel: +46 (0)70 626 54 24, E-post: investorrelations@eworkgroup.com
Caroline Lönnquist, CMCO,
Tel: +46 76 867 05 40, e-post: investorrelations@eworkgroup.com
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