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Rejlers: Interim report Rejlers AB January - September 2016

Focus on efficiency

Third quarter
» Sales increased by 32 percent to SEK 500.3 million (380.1)
» Operating profit/loss was SEK 4.9 million (18.9), which corresponds
to an operating margin of 1.0 percent (5.0)

» The profit/loss after tax was SEK 1.1 million (13.9)
» Cash flow from operating activities totalled SEK -24.4 million

» Earnings per share before and after dilution amounted to SEK 0.12

» Sales increased by 29 percent to SEK 1,667.7 million (1,288.8)
» Operating profit/loss was SEK 21.5 million (61.9), which corresponds
to an operating margin of 1.3 percent (4.8)

» Operating profit/loss adjusted for restructuring costs was SEK 31.2
million, which corresponds to an operating margin of 1.9 percent

» The profit/loss after tax was SEK 14.0 million (46.0)
» Cash flow from operating activities totalled SEK -27.0 million

» Earnings per share before and after dilution amounted to SEK 1.06

Comments from the CEO and Group President, Peter Rejler
Development during the third quarter was poorer than anticipated in
Rejlers Sweden and Rejlers Norway. The operating profit of SEK 4.9
million has been adversely affected by a billable hours ratio that is
clearly lower than in the previous year. The holiday period, July and
August, was significantly worse than expected. We did note some
recovery in September.

The reorganisation of the business through streamlining, phasing out
unprofitable areas and increasing the focus on the digitalisation of
processes and IT solutions has not yet produced the desired effect.
We have therefore initiated a further package of measures
encompassing more sales activities, cost savings and improved
monitoring of the business. We have also increased our focus on
ensuring good employee utilisation and a good cash flow throughout
the business.

Growth has remained good, with an increase in sales in the Group of 32
percent, of which 2 percentage points of the growth is organic. The
acquisitions of Embriq in Norway and Orbion Consulting in Sweden have
been well integrated into the business and have added new skills in
the areas of IT solutions and ICT. Both of these acquisitions are
contributing positively to the operating margin.

The market and demand for our services are generally good in Sweden
and Norway, except within parts of the industrial segment in Sweden,
where demand for nuclear power expertise has declined significantly.
In Finland, we are delivering good results despite a difficult
market. During the quarter, we have entered into major agreements
with e.g. Serneke, Svenska Kraftnät, JM Norge, the Swedish Transport
Administration and Lindbäcks Bygg.

In parallel with the package of measures, we are working with the
digitalisation of the business and of our assignments. We are
anticipating considerable growth in markets such as energy, the
retail sector and transport. We are therefore now investing
strategically in the digitalisation of infrastructure and smart
handling of large volumes of data. At the same time as gathering all
our expertise in the fields of IT and energy metering services under
Rejlers Embriq, with a joint Nordic management, we are also launching
Connected Stores, a new concept comprising IT solutions for the
retail trade.

Our objective remains the same. We aim to improve the operating margin
to 8 percent over time and to achieve our growth objective of
2020-3030-4040. Our focus is on becoming more efficient and more

For further information, please contact:
Peter Rejler, CEO and Group President, tel.: +46 (0)70-602 34 24,

Mats Åström, CFO, tel.: +46 (0)72-050 22 40, e-mail:

Rejlers is one of the largest engineering consultancy firms in the
Nordic region. Our 2,000 experts work with projects in the areas of
Building and property, Energy, Industry and Infrastructure. At
Rejlers, you will meet specialist engineers with the knowledge,
cutting edge expertise and energy to achieve results. We are still
experiencing rapid growth and can now be found in 80 locations in
Sweden, Finland and Norway. Rejlers recorded revenue of SEK 1.9
billion in 2015 and its class B share is listed on Nasdaq Stockholm.

Rejlers AB (publ) is obliged by the EU market abuse directive and the
law on the securities market to publish the information contained in
this interim report. The information was provided by the above
contact person for publication on 25 October 2016, at 08.00 CET. This
report is also available in Swedish. This English report is a
translation from Swedish. If there are any differences, the Swedish
language report shall prevail.


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