Interim report, January-March 2011

Rejlers - A Great Place to Work

January-March

• Turnover amounted to SEK 276.8 million (198.7)
• Operating profit was SEK 27.6 million (11.5)
• Operating margin amounted to 10.0 per cent (5.8)
• Profit after tax was SEK 18.0 million (8.0)
• Earnings per share were SEK 1.59 (0.74)

Statement from Managing Director and CEO Peter Rejler
Business was better than expected in the first quarter of the year: we increased both our capacity utilization and orders received. We managed to come third in the "Great place to work, the best place to work in Sweden 2011" competition, beaten only by Microsoft and Accenture.

The prospects for all Rejlers' areas look good going forward. Our Industry segment, which has the most potential to improve, has found that customers are prepared to invest once more. The number of requests for quotations is increasing steadily, although from a relatively low level. Other customer groups are showing a major need to invest, with continuing sales as a result. We have extended our business geographically in recent times, by moving into Russia and Norway and opening a couple of new offices in Sweden. This guarantees more stability, through more markets being available for all Rejlers' competences. The challenge where our market share is growing will be to recruit the right competences and make good acquisitions. The first three months of the year indicate growth will remain good, as will opportunities for new acquisitions.

In April, we acquired the remaining 45 percent of Lausamo Oy in the construction and property market, which has around 50 staff, including 10 in Moscow, so we now own all shares in the company. In the face of stiff competition, Rejlers has signed design and construction contracts with Neste Jacobs Oy. In Sweden, Rejlers has signed master agreements with the Swedish Transport Administration (Trafikverket), making us the main supplier in project management, project managers and project engineers in Stockholm, Gävle and Malmö.

Rejlers is focusing on recruiting new staff and will continue to make strategic acquisitions. Our vision is unchanged: more than 2015 staff and more than SEK 2015 million by 2015. We expect the 2011 results to be better than 2010.

For further information, please contact:
Peter Rejler, MD and CEO, tel. +46 (0)70 602 34 24, e-mail: peter.rejler@rejlers.se
Lars Solin, CFO, tel. +46 (0)73 386 15 20, e-mail: lars.solin@rejlers.se

Rejlers is a Nordic group offering technical consultancy services in the fields of electrical engineering, energy, mechanical engineering, automation, electronics, IT and telecommunications. Rejlers' shares are listed on the Nordic list of the Nasdaq OMX Stock Exchange.