Cybercom Group 2011 Year-end financial report


2012-02-08, 07:30

October – December

· Sales of SEK 393.1 million (402.7)
· EBITDA of SEK 42.8 million (36.9) and margin of 10.9% (9.2)
· EBIT of SEK 33.2 million (24.4) and margin of 8.4% (6.1)
· EPS of SEK 0.55 (0.67)
· Efficiency improvement as a result of streamlining

 January – December

· Sales totalled SEK 1,481.0 million (1,528.9)
· EBITDA of SEK 65.4 million (112.2) and margin of 4.4% (7.3)
· EBIT of SEK -125.4 million (61.5) and margin of -8.5% (4.0)
· EPS of SEK -4.00 (1.21)
· The Board proposes no dividend

Key events after period’s end

· Niklas Flyborg appointed new president and CEO from 1 March

CEO comment

Fourth quarter sales amounted to SEK 393.1 million (402.7) with EBITDA of SEK 42.8 million (39.6) and margin of 10.9% (9.2). Step by step we can see improvements as a result of the streamlining programme that we launched in the second quarter. Actions taken after the summer to improve our efficiency are also giving positive impact. These actions will gradually improve profitability.

I am pleased to report a profitability increase in the Swedish segment. A good market and sharpened efficiency have positively contributed to this development. The revenue growth was on a good level which leads to a significant use of sub consultants still. Overall, there have not yet been any remarkable changes among our customers in the Swedish market during the past quarter. We continue to invest time and effort into the completion of business and operational integration within the Swedish organisation.

We are seeing a cautious market in Finland, visible through prolonged sales cycles.

In our International segment, we are investing in broadening our services portfolio to include Security and Internet services since we see a good market potential. I’m not satisfied with the fact that we still have not reached an acceptable profit level in our Chinese operations, or been able to compensate for the decreasing volume in our Africa projects. On the other hand, we can report yet another good quarter for our Polish operations.

2011 was a challenging year for Cybercom. We saw a decrease in major customer accounts, implemented a streamlining programme, disclosed essential write-downs in goodwill and customer relations in Finland and made changes in the company’s management. It was a year of change. We have achieved improvements. We ended the year positively.

We will continue to adapt to the current market situation by improving sales, customer focus and business acumen, thus increasing our profitability and growth.

Now, I welcome our new CEO Niklas Flyborg who will further strengthen us at Cybercom Group.

Stockholm, 8 February 2012

Petteri Puhakka
President and CEO (acting)

For more information please contact

Petteri Puhakka, President and CEO (acting)  +358 400 414 623

Per Killiner, CFO (acting)  +46 72 531 98 08

Kristina Cato, IR and communications director +46 70 864 47 02

The Cybercom Group is an IT consultancy that offers global sourcing for local and international business. The Group is a recognised supplier in telecom management, connected devices, Internet services, and security. Thanks to its extensive industry and operations experience, Cybercom offers strategic and technical expertise in telecom, industry, media, the public sector, retail, and banking and finance. Cybercom’s consultants operate around the world, and the company has offices in 9 countries. Cybercom was launched in 1995, and its share has been quoted on the NASDAQ OMX Stockholm since 1999.

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