Rejlers' Year-end Report 2010

Strong end of year
January-December

• Turnover amounted to SEK 838.9 million (776.8)
• Operating profit was SEK 51.2 million (40.6)
• Operating margin amounted to 6.1 per cent (5.2)
• Profit after tax was SEK 35.2 million (28.2)
• Earnings per share were SEK 3.22 (2.61)

Fourth quarter

• Turnover amounted to SEK 252.7 million (209.7)
• Operating profit was SEK 19.4 million (9.1)
• Operating margin amounted to 7.7 per cent (4.3)
• Profit after tax was SEK 11.5 million (5.7)
• Earnings per share were SEK 1.02 (0.53)

Proposed dividend

• The Board is proposing a dividend of SEK 1.75 per share (1.50), which means a total dividend amount of SEK 19.8 M SEK (16.2)

Statement from Managing Director and CEO Peter Rejler
In the fourth quarter, the market turned up somewhat further. The operating margin during the quarter was almost 8%, which indicates that we are heading the right way in terms of earnings. At the same time, growth is high, which can affect the margin negatively in the short term. The need for investments in Rejlers' four customer areas is large across the entire geographical market area. Industry is going better and the Nordic base industries are holding their own against international competition.

The infrastructure is still neglected. Railways and roads need constructing at a faster rate than is happening at the moment. Telecommunications systems are being expanded in step with the technological developments. The energy sector has several tasks. Nuclear power needs to be replaced with more modern, more efficient and safer systems. At the same time, renewable energy and improved energy efficiency have to be prioritised. The offices and the premises of the future have to be energy efficient, safe, smart and adapted to new ways of working.

Rejlers is recruiting and acquiring companies. In Sweden, during the fourth quarter, apart from the Råbe companies with nearly 70 employees, Per Schönbeck Elprojekt AB was acquired, with over 30 employees. In Finland, 55% of Lausamo Oy was acquired, with approximately 45 employees whereof 6 are in Moscow, with the option to acquire the remaining 45% during the second quarter 2011. In Norway, the remaining 85% in APAS Energiteknikk has been acquired and it is now a wholly owned subsidiary.

If the acquired companies had been active throughout 2010, the turnover would be approximately SEK 1 billion and the number of employees would have been just over 1100 at the end of the year. Thus, we achieved the goal set in 2003 of 1000 employees and 1 billion in turnover by 2010.

We are now aiming at 2015, with the vision 3 x 2015, i.e. more than 2015 employees and more than 2015 million in turnover in 2015. We are building a structure adapted for growth under organised forms.

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

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.