Johan Eriksson, Poolia’s Managing Director and CEO, comments on the financial results
• Revenues totalled MSEK 1,311.1 (1,437.8)
• The operating profit was MSEK 28.4 (105.3)
• The profit before tax was MSEK 30.6 (109.6)
• The profit after tax was MSEK 18.5 (82.6)
• Earnings per share totalled SEK 1.04 (4.61)
• Cash flow from operating activities was MSEK 35.8 (105.7)
• A dividend is proposed of SEK 1.50 (4.50) per share
2009 was an eventful year for Poolia. The global financial crisis we faced was characterised by redundancies, bankruptcies and a global economy in turmoil.
The crisis also made its mark in the staffing sector. After a good start with a stable first quarter, demand slowed down during the second and third quarters, mainly in the Permanent Placement service segment. By means of significant cost adjustments and efficiency improvements we managed to reduce the recession’s effect on the financial results and maintained a positive cash flow from operating activities.
The slowdown was particularly noticeable during the second quarter and the summer months. The situation gradually stabilised during the end of the third quarter and the fourth quarter. We see clear indications of a better market in the days ahead and we are well equipped to cope with increased demand for our services.
Activities in the field of healthcare staffing continued their positive trend during the year. Growth was no less than 26%, with an operating margin that continued to be healthy.
During the fourth quarter we undertook structural measures to achieve additional efficiency improvements in the business. These measures charged the operating profit to the order of MSEK 2.6 during the period.
Despite developments during 2009, we have a stable financial position with no external financing whatsoever. It is therefore pleasing to propose a dividend of SEK 1.50/share, corresponding in total to MSEK 25.7.
For further information please contact:
Johan Eriksson, CEO, Tel. +46 8 555 650 60, +46 70 616 74 47
Lotta Nilsson, CFO, Tel. +46 8 555 650 64, +46 73 944 50 64
Poolia’s business concept is to provide companies and organisations with the skills that, either temporarily or permanently meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent recruitment of professional staff in our focus areas of Finance & Accounting, Financial Services, Office Support, IT & Engineering, Sales and Marketing, Human Resources, and Executive. Through its subsidiary, Dedicare, Poolia is also active within the health sector in Sweden and Norway. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.