January – December 2008
• Sales rose by 62% to SEK 1,781.1 million (1,099.5)
• EBIT increased 50% to SEK 156.0 million (104.2)
• Profit climbed 100% to SEK 134.0 million (67.0)
• Strong operating cash flow amounted to SEK 198.8 million (60.1)
• Profit per share increased to SEK 5.51 (4.46)
• 8.8% operating margin EBIT (9.5%)
• 10.9% operating margin EBITDA (11.0%)
• Acquisition of Plenware and Nexus Consulting
October – December 2008
• Sales up 31% to SEK 484.2 million (369.0)
• EBIT reached SEK 40.8 million (41.1)
• Profit increase of 114% to SEK 64.9 million (30.3)
• Profit per share of SEK 2.60 (1.56)
• 8.4% operating margin EBIT (11.1%)
• 10.5% operating margin EBITDA (13.3%)
• Divestment of the UK subsidiary
2008 – a year of international growth and strong cash flow
“In 2008 Cybercom continued its international expansion, and sales rose 62% to SEK 1,781.1 million. Cash flow was strong during the year, and profit was secured to SEK 134 million. Cybercom follows its customers around the globe and now has global presence that boosts its delivery capacity. The company further fortified its Nordic position and expanded its operations to Eastern Europe and farther into Asia. We're building a geographic structure for long-term business, and we're convinced that globalisation will continue to play a key role going forward.
In China we opened another office in Chengdu. Our Singapore operation expanded. In Poland we were selected as one of the country’s best employers, and we started to address the local customer market. Through long-term investments Cybercom is building a flexible company that's adapted to current market changes.
In 2009 we'll concentrate on additional growth in Asia, and we'll review parts of our operations that need streamlining – particularly in the Nordics.
The recession noticeably affected consultancies in Q4 2008. Many major customers initiated savings programmes and announced considerable redundancies. Many also wanted to lower price levels. The economic slump heightens the significance of close customer relationships. The prevailing market situation gives impetus to Cybercom’s global sourcing proposition. Cybercom combines local presence with global delivery capacity, keeping business-critical operations close to the customer, while relocating parts of production to low-cost countries. Customers want to focus on their core activities and service development to secure their competitiveness.
We achieved substantial changes in 2008 – to create an inspiring future for our employees and to increase value for our shareholders. I'm convinced that Cybercom is well-positioned to meet customers’ needs and the challenges ahead.”
Stockholm, 12 February 2009
President and CEO
For more information, please contact:
Patrik Boman, president and CEO +46 73 983 89 79
Per Jonsson, CFO +46 70 770 46 22
Kristina Cato, IR and communications director +46 70 864 47 02