Rejlers' Interim Report, January-March 2010

29 April 2010

Increased demand for recruiting in an improved market

First quarter

• The turnover amounted to SEK 198.7 million (210)
• Operating profit was SEK 11.5 million (18.5)
• Operating margin amounted to 5.8 per cent (8.8)
• Profit after tax was SEK 8.0 million (13.5)
• Earnings per share were SEK 0.74 (1.25)

Statement from Managing Director and CEO Peter Rejler
The business in three of our customer groups in Sweden; Infrastructure, Energy and Construction and property have withstood the recession well. The operations in these areas continue at a high level, with a good level of activity. Against the background of the investments that have been made in the energy and infrastructure areas, we foresee that these segments will have a high level of activity for a long time to come.  Construction and property are coming up to speed again, in step with the improved economy, and we have assignments for several major projects.  

Since we are now receiving increasingly stronger signals from our industry customers in Sweden that their need for consultants is increasing, even if it is from a low level, it feels as if a normalisation is on the way.

Our Telecommunications business in Norway continues to grow and we are building further with continued recruiting.

In contrast, in Finland the depression is deeper than feared. The recovery in Finnish industry is slow, and we believe that the turnaround will not come before the autumn. Currently, 55 industry consultants are temporarily laid off. We are now making even greater efforts to increase the assignments within Energy and Infrastructure, as well as Construction and property, to obtain a healthy balance between our customer segments in Finland as well.

Rejlers managed to attract several new customers during the first quarter. Among those we have signed agreements with are Fortum Distribution, BAE Systems Hägglunds and TeliaSonera. Rejlers in Finland has been entrusted with planning the construction related to the 2014 Olympic Games in Sochi.

The improved market conditions in Sweden and Norway means that we are increasing the rate of recruitment. In Finland, experienced consultants are being recruited in Infrastructure and Energy, among others. This is in line with our expansion plans, 2015 x 3 which means that in 2015 Rejlers will have a turnover of 2015 million SEK and 2015 employees. For 2010 we expect a better profit compared to 2009.

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 NASDAQ OMX Nordic Exchange.