Interim Report for January 1 - September 30, 2003

PRESIDENT AND CEO ERIK STRAND'S COMMENTS ON POOLIA'S THIRD QUARTER

Poolia AB
Poolia halved its rate of losses compared with the year-earlier period.
The improved operating result shows that the Group's cost-cutting
measures during the year have yielded results. Further measures will be
necessary to reach profitability.

Market and business climate
The market showed no signs of recovery during the period. The demand
situation was slightly better than in the second quarter, although still
below our expectations since the third quarter is normally the most
profitable period and has the most days of invoicing. We are focusing on
continued productivity improvements.

Poolia Professionals
During the period, Poolia Professionals signed a major framework
agreement with the public sector. The agreement became effective on
October 1, 2003. The independent market research company Exido conducts
bi-annual surveys targeting decision makers with staffing and
recruitment responsibilities. The latest autumn survey revealed that
Poolia Professionals Sweden had the most satisfied customers in the
industry.

Uniflex
The Uniflex subsidiary posted an operating profit for the period,
largely attributable to sales growth. Uniflex reported year-on-year
sales growth of 22% during the period.

For further information, please contact:
Erik Strand, President and Chief Executive Officer (Tel: +46-8-555 650
60)
Kjell-Åke Jägenstedt, Chief Financial Officer (Tel: +46-8-555 650 09)

Poolia is a leading player in the market for professional staffing and
is active in approximately 20 locations in Sweden, Norway, Denmark,
Finland and Germany. Operations include the Temporary Staffing,
Recruitment/Search and Outsourcing service areas. Poolia is divided into
two brands - Poolia Professionals and Uniflex. Poolia Professionals
provides professional staffing in the Accounting, Bank & Finance, IT,
Office, Human Resources, Payroll, Technical, Sales & Marketing, Legal,
Healthcare and Life Science service segments. The subsidiary Uniflex is
one of the largest companies in the generalist staffing segment in
Sweden. Uniflex offers services in the receptionist, customer service,
switchboard, call-center, industry & warehousing and facility services
areas.

INTERIM REPORT FOR JANUARY 1 - SEPTEMBER 30, 2003
· Sales declined 3.5% to SEK 567.8 M (588.5).
· A loss of SEK 16.9 M was reported after tax (loss: 31.1).
· The loss per share was SEK 0.73 (loss: 1.35).
· A loss after financial items of SEK 16.1 M (loss: 40.2) and an
operating loss of SEK 25.3 M (loss: 51.9) were reported.
· The Group's operating loss for the third quarter was a SEK 1.2
M improvement compared with the third quarter of 2002.
· Uniflex reported an operating profit for the third quarter.

Sales
Sales declined 3.5% to SEK 567.8 M (588.5). Sales from operations
outside Sweden amounted to SEK 106.0 M (101.6). Sales related to the
operations of the subsidiary Uniflex AB amounted to SEK 127.5 M (97.2).
Temporary Staffing continues to be the predominant service area.
Accounting is the largest occupational segment in absolute terms.
Forthcoming financial reports

February 20, 2004 Year-end Report, 2003

Stockholm, November 5, 2003

Erik Strand
President and Chief Executive Officer

Information
This interim report has been prepared in accordance with the Financial
Accounting Standards Council's Recommendation RR20 - Interim Reporting.
The accounting and calculation principles are unchanged compared with
the 2002 Annual Report. From 2003 onwards, the Financial Accounting
Standards Council's Recommendation RR25 on segment accounting is
applicable. Poolia's primary segments are Professionals Sweden,
Professionals Other Nordic Countries, Professionals Germany and Uniflex.

This interim report has not been reviewed specifically by the Company's
auditors.

For further information, please contact:
Erik Strand, President and Chief Executive Officer (Tel: +46-8-555 650
60)
Kjell-Åke Jägenstedt, Chief Financial Officer (Tel: +46-8-555 650 09)

Poolia AB (publ)
Warfvinges väg 20
Box 30081
S-104 25 Stockholm
Tel: +46-8-555 650 00
Fax: +46-8-555 650 01
Org.no: 556447-9912
www.poolia.se

POOLIA

Poolia's success is based on the fact that we constantly strive to achieve the highest quality and that we have specialised in the temporary staffing and permanent placement of qualified staff in our focus areas: finance...

View more


  CONTACT  

Related documents

 
 
 
 
Social Media Pitch:
Interim Report for January 1 - September 30, 2003