Q1 2025 Ework Group AB Earnings Call Transcript
Key Points
- Ework Group AB (LTS:0MCB) reported an increase in gross margin to 4.1% from 3.8% last year, driven by growth in add-on services.
- The company experienced strong growth in Denmark and Poland, with Poland benefiting from increased nearshoring demand.
- Ework Group AB expanded its operations into Belgium, aligning with its strategy for European expansion.
- The company launched a new internal digital platform aimed at increasing scalability and long-term efficiency, with AI and automation playing key roles.
- Ework Group AB secured several new frame agreements with both new and existing clients, indicating renewed confidence in their services.
- Net sales declined by 17% to SEK3.5 billion, primarily due to the phase-out of unprofitable client contracts and fewer workdays.
- The company faced challenges in Sweden and Norway, with lower volumes impacting overall results.
- Operating profit decreased to SEK34.3 million from SEK44.7 million last year, affected by lower business volumes.
- The public sector consulting and telecom industries remained restrained, contributing to a decline in these segments.
- Ework Group AB's financial net was negatively impacted by currency effects, particularly related to an inter-company loan to the Polish business.
Andrea Romander and I'm the PR and communications manager at Ework Group, and I will be moderating today's session. It's my first time standing here in this setting, and I'm really excited to be a part of today's presentation. Luckily I'm not doing this alone, I feel both confident and comfortable knowing that I have two experienced colleagues with me, Karin Schreil, CEO, and Johanna Eriksson at Ework Group. Really happy that you're here.
In just a moment, I will hand over to you two to guide us through the highlights and the insights from this first quarter, and after the presentation, we will open up the floor for the viewers' questions. So, let's dive in and I'm handing over the clicker to you.
Thank you so much, Andrea.
So, we are happy to be here and present the results for the Ework Group in the first quarter. To begin with, as you may have seen, we issued a press release about the preliminary Q1 results
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