Several of Ework's clients remained cautious in the weaker economic situation during the third quarter, which dampened growth and profitability. To strengthen our margins, we segmented our client acquisition activities and focused on business and add-on services that create value. At the same time, we worked further in accordance with our strategic plan to better leverage our business model and sustainably increase our profitability. New contracts were signed to a greater extent to better margins, while we matched more specialists and senior professionals with higher hourly rates in order to meet the skills needs of our clients.
Q3 2023 compared with Q3 2022
- Net sales grew by 4.2 percent to
SEK 3,640 million (3,492). -
EBIT decreased 3.5 percent to
SEK 44.8 million (46.4). - The operating margin (EBIT) was 120 bps (132).
-
Profit after financial items decreased 34.7 percent to
SEK 28.5 million (43.7). -
Order intake decreased by 17.2 percent to
SEK 3,028 million (3,606). - The number of professionals on assignment averaged 12,732 (12,616).
-
Earnings after tax and per share after dilution amounted to
SEK 1.25 (2.03), a decrease of 38.3 percent.
First nine months of 2023 compared to 2022
- Net sales grew by 10.6 percent to
SEK 12,590 million (11,383). -
Operating profit grew by 6.4 percent to
SEK 136.5 M (128.3). -
Profit after financial items decreased -0.9 percent till
SEK 121.0 million (122.1). -
Earnings after tax and per share after dilution amounted to
SEK 5.45 (5.57), an decrease of 2.2 percent.
Outlook
Despite a more challenging economic situation, we expect to continue growing more rapidly than the market and report an improvement in our operating margin for the full year 2023.
The complete Interim Report is available via link below or at www.eworkgroup.com.
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Phone: +46 (0)70 794 58 83, e-mail: karin.schreil@eworkgroup.com
Klas Rewelj, CFO,
Phone: +46 (0)70 626 54 24, e-mail: klas.rewelj@eworkgroup.com
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