Ework Group publishes Year End Report, January – December 2022: Record-setting quarter, continued capturing new business and market share

Ework Group AB (publ) concluded a successful year with the highest order intake, sales, and operating profit for an individual quarter. Order intake for the fourth quarter increased just over 12 per cent to nearly SEK 8.9 billion. Net sales rose 21 percent to just under SEK 4.7 billion, while operating profit increased to SEK 54.8 M (42.3). Costs continued to display a slower rate of increase, which demonstrated the economies of scale in the operation. There is a proposal to raise the dividend for the financial year 30 percent to SEK 6.50 per share.

Fourth quarter 2022 compared to the corresponding quarter 2021

• Net sales grew by 21% to SEK 4,687 million (3,862). The increase was due to Ework winning new business and capturing market share as a result of the active initiatives to meet client needs.
• Operating profit rose 30 per cent to SEK 54.8 M (42.3). The improvement to earnings is attributable to continued growth, and the associated economies of scale.
• Operating margin (EBIT) increased to 120 bps (110)
• Profit after financial items increased 30 percent to SEK 53.5 M (41.3)
• Order intake grew by 12 percent to SEK 8,895 million (7,920)
• The number of professionals on assignment averaged 13,742 (11,856)
• Earnings after tax and per share after dilution amounted to SEK 2.50 (1.92), an increase of 30.2 per cent

Full-year 2022 compared to full-year 2021

• Net sales rose 22 percent to SEK 16,070 M (13,189)
• Operating profit increased 44 per cent to SEK 183 M (127)
• Profit after financial items increased 41 per cent to SEK 175.6 M (124)
• Earnings after tax and per share after dilution amounted to SEK 8.05 (5.68), an increase of 41.7 percent
• The Board of Directors has decided to propose a dividend of SEK 6.50 per share to the upcoming Annual General Meeting.
• Ework believes that the Group will grow more rapidly than the market and report continued improvements to its operating margin for 2023

Subsequent events

• The Board of Directors of Ework Group decided on financial targets for the Group.

The complete Interim Report is available via link below or at www.eworkgroup.com.

At 1 pm CET, 9^th February, CEO Karin Schreil and CFO Klas Rewelj will present (in Swedish) the company’s interim report for the fourth quarter and Full Year 2022.
Register for the webcast
Register for the teleconference

For more information, please contact: Karin Schreil, CEO, Ework Group AB
Phone: +46 (0)8 50 60 55 00, e-mail: [email protected]

Klas Rewelj, CFO, Ework Group AB
Phone: +46 (0)8 50 60 55 00, e-mail: [email protected]

The information disclosed in this Interim Report is mandatory for Ework Group AB (publ) to publish pursuant to the EU’s Market Abuse Regulation (MAR). This information was submitted for publication at 10:30 am (CET) on 9 February 2023, through the agency of the CEO.

About Ework Group
Ework Group AB (publ) provides total talent solutions, with a focus on IT/OT, R&D, Engineering and Business Development and has today more than 13,500 independent professionals on assignment. Ework partners with clients in both the private and the public sector, and with professionals to create sustainable talent supply chains. Ework was founded in Sweden in 2000 and operates in Sweden, Denmark, Norway, Finland, and Poland with its head office in Stockholm. Ework’s shares are listed on Nasdaq Stockholm. www.eworkgroup.com 

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