NISCAYAH INTERIM REPORT JANUARY-JUNE 2011

| Source: Niscayah Group AB Niscayah Group AB 

NISCAYAH INTERIM REPORT JANUARY-JUNE 2011

 

THE SECOND QUARTER 2011

  · Revenues amounted to MSEK 1,527 (1,687).
  · Organic growth was -3 percent (-6).
  · Non-recurring costs amounted to MSEK 10.
  · Operating profit before amortization (EBITA) was MSEK 81 (89),
corresponding to a margin of 5.3 percent (5.2).
  · Profit before tax amounted to MSEK 56 (68).
  · Net profit for the period was MSEK 39 (48).
  · Earnings per share amounted to SEK 0.11 (0.13).

JANUARY - JUNE 2011

  · Revenues amounted to MSEK 3,036 (3,368).
  · Organic growth was -3 percent (-7).
  · Non-recurring costs amounted to MSEK 10.
  · Operating profit before amortization (EBITA) was MSEK 167 (189¹),
corresponding to a margin of 5.5 percent (5.6¹).
  · Profit before tax amounted to MSEK 140 (159¹).
  · Net profit for the period was MSEK 97 (-28).
  · Earnings per share amounted to SEK 0.27 (-0.08).

¹ Excluding restructuring costs for 2010 amounting to MSEK 200.

CEO's comments

The market situation during the second quarter has been mixed with
challenging conditions in Southern Europe, particularly in Spain, and in
the countries within the US/UK/Ireland segment. The markets in the
Central and Northern parts of Europe performed well. All in all, our
organic growth amounted to -3 percent, of which implementation was 1
percent and services was -3 percent.

The gross margin for the quarter amounted to 33.9 percent (33.0). The
improvement was mainly due to the restructuring program which was
completed during the preceding quarter.

  · In the Mainland Europe segment, earnings (EBITA) improved during the
quarter to MSEK 107 (96), and the operating margin strengthened to 8.9
percent (7.6).
  · The development in the US/UK/Ireland segment was weak and earnings
(EBITA) for the quarter amounted to MSEK 3 (10).

During the quarter, operating profit before amortization (EBITA)
amounted to MSEK 81 (89) in total. Earnings were affected by
non-recurring costs of MSEK 10. The costs are related to takeover offers
to Niscayah's shareholders and costs for personnel changes.

Changes in foreign exchange rates impacted earnings (EBITA) during the
quarter by MSEK -6 and net financial items by MSEK -5.

The long-term transformation process for increased competitiveness,
lower costs and improved operational efficiency is continuing according
to plan.

 

Håkan Kirstein
President and CEO

For further information please contact:

Håkan Kirstein, President and CEO                                  +46
10 458 8000
Håkan Gustavson, Chief Financial Officer                         +46 10
458 8000
Johan Andersson Melbi, Investor Relations                      
+46 10 458 8023

Niscayah Group AB discloses the information provided herein pursuant to
the Swedish Securities Markets Act and/or the Swedish Financial
Instruments Trading Act. The information was submitted for publication
on July 27, 2011 at 08.30 a.m. CET.

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