Interim Report Q3 1 January - 30 September 2012

Interim Report Q3 1 January - 30 September 2012
Quarterly period, July-September

  · Poolia's income totalled MSEK 217.8 (263.8), a drop of 17.4%, (16.6% in
local currency).
  · The operating profit totalled MSEK -0.7 (3.0), while the operating margin
was -0.3% (1.2).
  · The pre-tax profit was MSEK 0.8 (3.0).
  · Profit after tax was MSEK -0.8 (2.2).
  · Earnings per share totalled SEK -0.05 (0.13).
  · Cash flow from operating activities was MSEK -2.6 (-1.1).

January to September interim period

  · Poolia's income totalled MSEK 752.6 (830.6), a drop of 9.4% (9.4% in local
currency).
  · The operating profit totalled MSEK 2.4 (19.0) and the operating margin was
0.3% (2.3%).
  · The pre-tax profit was MSEK 2.4 (19.1).
  · Profit after tax was MSEK 0.7 (13.4).
  · Earnings per share totalled SEK 0.04 (0.86).
  · Cash flow from operating activities during the period was MSEK 17.0 (1.9).
  · The equity/assets ratio at the end of the period was 36.0% (34.8%) and the
Group's equity per share was SEK 6.13 (6.58).

From the CEO – “We’re adapting to a weaker economy”

The general picture for the Group and the quarter was that our overseas business
is performing well, while the business in Sweden is adapting to a weaker
economy. In the UK we have struck a profitable commercial balance with a much
smaller organisation and a lower cost structure. Our conscious Group initiative
in permanent placement is going well.

Revenues in the Swedish domestic market fell by 18%, attributable to the
temporary staffing side and a much weaker business climate. The permanent
placement/outplacement service area grew. We are focusing on increasing the
staffing ratio and cutting costs, as the falling staffing ratio is one of the
reasons behind the operating loss for Sweden. The customer side has won
contracts in the banking and IT sector. A major contract that we lost in a
procurement process in 2010 continues to have a negative effect. In 2011 the
customer retained a large proportion of our temps, while in 2012 we phased out
most of them. This has resulted in a significant fall in revenues in the
comparative figures between 2012 and 2011.

The Swedish operating loss was MSEK 1.7. In the second quarter we implemented a
savings programme that aimed to improve the profit by MSEK 20 on an annual
basis. Most of the cost savings will be achieved via natural changes in
operating activities. The cost of the savings programme is MSEK 2, of which MSEK
1.1 is being charged to the third quarter, the rest to the fourth quarter. As we
are now continuing to lose revenues, additional savings will be implemented in
order to achieve an acceptable level of profitability. The profit figure also
includes the costs of a conscious initiative to enhance our
outplacement business, which had a negative effect on the profit to the order of
approx. MSEK 1 during the startup phase.

Poolia Germany's revenues showed an increase of 27% in local currency. This
business continues to perform well. The operating margin in the third quarter
was 7.0% (6.7).

Poolia UK reported a 38% decline in revenues in local currency, which is largely
due to a continuation in the staff reduction programme from 35 at the end of Q3
2011 to 19 at the end of Q3 2012. The move during Q2 has produced a better cost
structure, which contributed to the profit figure of MSEK 0.6 (0.4).

Poolia Finland continues to deliver the Group's highest operating margin, at
11.5% (10.0). Revenues fell by 13% in local currency. This is because of
challenging comparative figures because of an unusually large contract in summer
2011 and a more sluggish business climate at present. Poolia Finland is winning
market shares and has an increasingly strong permanent placement section.

Monika Elling
MD and CEO
For further information please contact:
Monika Elling, CEO, Tel. 46 8 555 650 60, 46 70 512 02 01
Yvonne Helander, CFO, Tel. 46 8 555 65 027, 46 70 399 50 27
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 & Engineering, Sales and Marketing, Human
Resources, and Executive Search. Poolia is listed on the NASDAQ OMX Stockholm AB
since 1999.