Poolia: Poolia Interim Report 1 January – 30 September 2014

Regulatory News:

Poolia (STO:POOLB):

Quarterly period July-September, continuing operations

Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

· Revenue amounted to SEK 163.0 (164.5) million, a decline of 0.9%.

· Operating profit was SEK 3.6 (1.8) million, with an operating margin of 2.2% (1.1%).

· Profit before tax amounted to SEK 3.5 (1.7) million.

· Profit after tax was SEK 1.9 (1.7) million.

· Earnings per share was SEK 0.11 (0.10).

· Cash flow from operations for the quarter was SEK -5.2 (-3.6) million.

Discontinued operations

· Profit/loss from discontinued operations was SEK 0.0 (-16.0) million for the third quarter and SEK -1.6 (-19.4) million for the period January-September.

· Cash flow from discontinued operations, including the sale of the UK operations, was SEK 7.1 million for the period January-September.

Interim period January-September, continuing operations

Reported revenue, earnings, cash flow and financial ratios relate to continuing operations, and do not include Utvecklingshuset and the UK.

· Revenue amounted to SEK 521.3 (546.8) million, a decline of 4.7%.

· Operating profit was SEK 4.6 (3.2) million, with an operating margin of 0.9% (0.6%).

· Profit before tax amounted to SEK 4.4 (3.0) million.

· Profit after tax was SEK 1.8 (2.8) million.

· Earnings per share amounted to SEK 0.11 (0.16).

· Cash flow from operations for the period was SEK 5.0 (9.2) million.

· The equity/assets ratio ended the period at 34.4% (28.9%), and the Group’s equity per share was SEK 3.89 (3.65).

From the CEO – Continuing focus on increased sales and improved profitability

Poolia's revenues in the third quarter from continuing operations amounted to SEK 163.0 million, a decline of SEK 1.5 million (0.8%) compared with the third quarter of 2013. Operating profit for the same period was SEK 3.6 (1.8) million.

Revenues for the Swedish business were SEK 105.7 (123.9) million, which corresponds to 65% of the Group's revenues for the quarter. Operating profit/loss amounted to SEK -2.2 (-0.6) million. The third quarter is Sweden's worst quarter of the year in terms of revenue. This is because resource temps take their holidays in this period and fewer permanent placements are completed. The cost of unplaced resource temps is now down to an acceptable level. Poolia Sweden incurred transition costs of SEK 1.0 million during the quarter (SEK 5.4 million for the year to date).

Poolia's German business continues to develop well. Revenues amounted to SEK 44.3 (31.9) million, corresponding to growth of 39%, and operating profit was SEK 5.6 (2.3) million, an increase of 140%. Our Finnish operations also reported a good third quarter. Growth compared with the third quarter of the previous year was 50%, with an acceptable operating profit.

Poolia Group's revenues from continuing operations declined by SEK 25.5 million (4.7%) during the period January to September 2014. Operating profit for the same period amounted to SEK 4.6 (3.2) million, leaving an operating margin of 0.9% (0.6%). Cash flow from operations for the period was SEK 5.0 (9.2) million. The Group's liquidity is good.

We continue to work to improve and streamline Poolia's operations in Sweden. The savings programme aimed at reducing annual costs by SEK 15 million is proceeding according to plan.

The final payment for the sale of Poolia's UK operations has been received in October in 2014 and Poolia does not have any further obligations concerning the divestment of the UK operations.

Poolia's progress towards the goal of returning to good profitability continues at high intensity.

Morten Werner

Managing Director and CEO

Poolia’s business concept is to provide companies and organisations with the skills that, either temporarily or permanently, meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent placement of professional staff in our focus areas of Finance & Accounting, Financial Services, Office Support, IT, Life Science & Engineering, Sales and Marketing, Human Resources, Legal, and Executive Search. Poolia has business in Sweden, Finland and Germany. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.

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