• Sales +186% to SEK 466.0 million (163.1)
• EBIT +113% to SEK 44.4 million (20.8)
• Profit +100% to SEK 26.6 million (13.3)
• Profit per share SEK 1.17 (1.07)
• 9.5% operating margin EBIT (12.8%)
• 11.6% operating margin EBITDA (13.7%)
• Plenware Oy
• Nexus Consulting
Strong start to 2008
“Cybercom enjoyed a strong start to 2008 with tremendous activity. The market situation is favourable, with ongoing robust demand for IT consulting services in all segments, although market signals are ambiguous. Some customers are trying to accelerate while applying the brakes; in certain cases, there is talk of stopping consultant use, yet Cybercom is receiving new requests for proposals. This development directly results in higher demand for cost-effective solutions, and even more customers see the advantages of global sourcing – combining local presence and global delivery capacity. Cybercom is now discussing offshore options with several customers and won new assignments from Swedish and international companies during Q1.
Cybercom’s aggressive investments continue. During Q1, the acquisition of Plenware with 550 employees was completed and integration of the company started. The auSystems and Plenware acquisitions have expanded Cybercom in a short time from being a medium-sized Swedish consultancy to one of the leading Nordic consultancies. The Plenware acquisition is a success: as a result, Cybercom is of suitable size to compete for the largest assignments.
Cybercom also acquired Nexus Consulting. The deal made Cybercom the leading consulting services player in the Nordics for information security and IT security. Nexus brings important expertise and 43 new employees to Cybercom.
The effects of joint sales activites became clear during Q1; Cybercom has a large influx of orders and a high level of activity, of which the quarter’s two acquisitions are good examples. Cybercom established a second office in China through Plenware, its subsidiary. The new office is in Chengdu, which is located in one of China’s most expansive regions, and recruitment is underway.
Stockholm, 22 April 2008
President and CEO of Cybercom
For more information, contact:
Patrik Boman, CEO and president, Cybercom Group, +46 73 983 89 79
Per Jonsson, CFO, Cybercom Group, +46 70 770 46 22
Patrik Anshelm, acting IR and communications manager, Cybercom Group, +46 70 971 12 84