Rejlers' Interim Report, April-June 2010

4 August 2010

Growth in a stabilised market

First half-year

• Turnover amounted to SEK 411.7 million (405.3)
• Operating profit was SEK 22.5 million (25.6)
• Operating margin amounted to 5.5 per cent (6.3)
• Profit after tax was SEK 16.6 million (18.3)
• Earnings per share were SEK 1.53 (1.69)

April-June

• Turnover amounted to SEK 213.0 million (195.3)
• Operating profit was SEK 11.0 million (7.1)
• Operating margin amounted to 5.2 per cent (3.6)
• Profit after tax was SEK 8.6 million (4.8)
• Earnings per share were SEK 0.79 (0.44)

Statement from Managing Director and Group CEO Peter Rejler
During the first half-year we witnessed a gradual improvement for our industrial customers in Sweden, which for us led to an increase in orders. Many of our customers have gone through difficult times because of the recession, leading to low demand and reduced hourly rates for technical consultants. Even though the improvement occurs from a low level, this is a further step towards market normalisation. The market situation for our other customer segments, namely Energy, Infrastructure and Construction and property, is still good.

Rejlers has a greater exposure to the Industry customer segment in Finland than in Sweden, which means that the recovery in Finland will take more time. Many signs indicate, however, that the Finnish economy will see an upturn during the second half of 2010. Our work on increasing exposure towards other customer groups continues.

Our activities in Norway continue to grow through recruitment.  In addition to energy measurement assignments and assignments for Nødnett, we will continue to grow within the Telecommunications sector.

Rejlers managed to win several new assignments during the second quarter. Amongst others, we received orders from one of our largest customers in the engineering industry for the delivery of new production equipment. We are expanding into the nuclear power sector and have strengthened our cooperation with the company Areva, which is building a new nuclear reactor in Finland.

We have recruited about 70 new employees during the first half of the year and continue to have a positive attitude towards the opportunities for good organic growth. Our objective to reach 1,000 employees this year remains, along with our objective 2015x3, meaning that in 2015 Rejlers targets a turnover of SEK 2,015 million and 2,015 employees, which will be achieved through a combination of recruitment and acquisitions. We continue to believe that 2010 earnings will be higher than those for 2009.

For further information, please contact:
Peter Rejler, MD and group 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 Nasdaq OMX Nordic Exchange.