eWork Group AB: Interim Report, January - June 2016: Strong Market and Continued High Growth

Regulatory News:

eWork Scandinavia AB (STO:EWRK):

"eWork had a good second quarter. The market remains hot, our growth was high, and we executed an intensive development process to move towards our challenging targets for 2020.

"In the second quarter, we took momentous steps in our efforts to build the new eWork – which will more than double in size in a few years. Demand for our services was really positive, with order intake up by as much as 50%. It's particularly satisfying that the increase in order intake derives from a broad source of growth in many of our clients. For the first time, our base of consultants on assignment passed 6,000."

Extract from CEO Zoran Covic's commentary to the interim report.

Second quarter 2016 compared to 2015

• Net sales increased by 23% to SEK 1,934 M (1,575).

• Operating profit up by 15% to SEK 24.9 M (21.7).

• Order intake rose by 50% to SEK 3,022 M (2,019), thus passing SEK 3 billion in a single quarter for the first time.

• Earnings per share after tax and after dilution were SEK 1.13 (0.98).

First half-year 2016 compared to 2015

• Net sales increased by 19% to SEK 3,619 M (3,032).

• Operating profit up by 14% to SEK 44.5 M (38.9).

• The consultant market remained strong throughout the period with healthy demand for consultants for new assignments.

eWork Group is a market-leading, independent consultant provider active in northern Europe focusing on IT, telecom, technology and business development. With no consultants employed, eWork is able to match each assignment with appropriate competence from the whole market impartially. eWork was founded in Sweden in 2000, and is now active in Sweden, Denmark, Norway, Finland and Poland. The company has framework agreements with over 160 leading corporations in most sectors, while simultaneously managing 6,000 consultants on assignment. eWork’s headquarters are in Stockholm, Sweden. eWork’s shares are quoted on Nasdaq Stockholm. This interim report is disclosed as regulatory information in compliance with Swedish and EU legislation.

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