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2014-04-25

Addnode Group: Interim report, January 1 - March 31, 2014

New geographic market, growth and strong cash flow

Summary of first quarter 2014

· Net sales amounted to SEK 411.4 M (370.7), up 11 percent.
· EBITA rose to SEK 34.3 M (28.6), an EBITA margin of 8.3 percent
(7.7).

· Operating profit increased to SEK 26.4 M (23.3), an operating
margin of 6.4 percent (6.3).

· After-tax profit for the period increased to SEK 19.2 M (18.1).
· Earnings per share after dilution amounted to SEK 0.65 (0.64).
· Cash flow from operating activities amounted to SEK 71.8 M (45.6).
· The Board of Directors proposes an unchanged dividend of SEK 2.25
(2.25) per share.

· Adjustment of growth target. The annual net sales growth will
amount to at least 10 percent.

· After the end of the period an agreement has been signed to
acquire Symetri, with annual revenue of SEK 80 M. The acquisition
will open up a new geographic market for Cad-Q and the Addnode Group.
There are conditions connected to the acquisition, which is expected
to be implemented in May.

CEO's comments
Growth, stable margins and strong cash flow
We continue to do good business in most of our areas in a relatively
weak economy. We started 2014 with 11-percent growth and an EBITA
margin of 8.3 percent - somewhat better than the year-earlier period.
The growth, which is both organic and acquisition-related, varies
within our business areas and in various geographic markets. The
Design Management business area had 16-percent growth in the quarter,
which was largely due to the acquisition of Joint in 2013. In the PLM
business area, organic growth was 10 percent, with much stronger
profitability compared with the year-earlier period. The Process
Management business area had growth of 10 percent, but a slightly
weaker margin. We have not yet achieved the desired profitability in
the Content Management business area, but have recognized the first
positive EBITA for the business area since the fourth quarter of
2012.

Cash flow from operations during the first quarter was much stronger
than revenue generated. Our seasonal pattern entails that a large
proportion of our licensing transactions, but mainly our annual
recurring support and maintenance agreements, are invoiced in the
fourth quarter and paid by customers in the first quarter. This
generates very strong cash flows in the first months of the year and
low working capital requirements for the full year.

Acquisition opens up a new geographic market
We have, in April, signed an agreement to acquire Symetri, which has
annual revenue of SEK 80 M. Symetri has a strong position in the UK
market and is the largest Autodesk distributor to the manufacturing
and oil and gas industries in the UK. We will, through the
acquisition, introduce our product portfolio and service offering and
our experience of selling to global customers in the UK. This is the
first step in an expansion into a market that is expected to be one
of Europe's most rapidly growing economies in 2014. The acquisition,
which is expected to be implemented in May, is conditional upon
certain events.

Staffan Hanstorp, CEO and President
The information in this Interim Report is such that Addnode Group must
disclose in accordance with the Swedish Securities and Clearing
Operations Act and/or the Financial Instruments Trading Act. The
information was released on April 25, 2014 at 08:30.

For more information please contact:
Staffan Hanstorp
CEO and President
Phone: +46 733 772 430
E-mail: staffan.hanstorp@addnodegroup.com
Johan Andersson
CFO and IR
Phone: +46 704 205 831
E-mail: johan.andersson@addnodegroup.com

About Addnode Group AB
Addnode Group provides mission-critical IT solutions to selected
markets in both private and public sectors. We acquire, build and
manage companies that deliver mission-critical IT solutions for the
specific needs of our clients. Every day, 250,000 engineers use our
systems to develop and maintain products, buildings and facilities.
100,000 civil servants in the public sector use our solutions for
municipal and state administration.

We are 950 employees in Sweden, Norway, Finland, Denmark, Serbia,
India and USA. In 2013 net sales totaled SEK 1 444 M. Addnode's
Series B share is listed on the OMX Nordic List, Small Cap. More
information about Addnode Group on www.addnodegroup.com.

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http://news.cision.com/addnode-group/r/interim-report--january-1---march...
http://mb.cision.com/Main/474/9574153/237076.pdf
http://mb.cision.com/Public/474/9574153/bc75ab9f9c4a8e67.pdf

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