eWork Group (EWRK) investor relations material

Executive summary

• Q3 net sales fell 8.0% YoY to SEK 2,750.6M as consultant volumes declined across markets except Norway; EBIT fell 2.7% to SEK 27.0M.

• Gross margin rose to 4.3%, its highest level in five years; diluted EPS increased 14.3% to SEK 1.04.

• Activity picked up after summer and volumes stabilised at lower levels, but broad recovery remained uncertain and sales lead times long.

• The 2027–2029 strategy is finalized, with priorities including volume recovery, stronger competitiveness, expanded services and profitable growth.

Financial highlights

• Q3 net sales were SEK 2,750.6M vs SEK 2,990M; gross profit was SEK 117.5M vs SEK 126.7M, down 7.3%.

• Q3 EBITDA was SEK 33.1M vs SEK 38.4M; EBIT was SEK 27.0M vs SEK 27.7M; profit for the period rose to SEK 18.0M from SEK 15.7M.

• Q3 diluted EPS increased to SEK 1.04 from SEK 0.91; net financial items were SEK -4.0M vs SEK -6.9M, reflecting lower interest costs and positive currency effects.

• 9M net sales fell 11.9% to SEK 8,903.3M; EBIT was SEK 69.0M vs SEK 106.8M, or SEK 78.4M adjusted for SEK 9.4M of Q1 restructuring costs.

• 9M profit for the period was SEK 42.6M vs SEK 65.9M; diluted EPS was SEK 2.47 vs SEK 3.81, and order intake was SEK 10,766M vs SEK 11,315M.

Outlook and guidance

• Market activity and enquiries improved after summer, but management said it was too early to call a broad recovery; long lead times delay revenue conversion.

• Commercial capacity has been strengthened, with focus on converting opportunities and tenders, generating new business and deepening client relationships.

• Volume recovery is a priority and may weigh on gross margin; cost discipline and selective investment continue.

• Cost initiatives are expected to deliver SEK 23M in full-year 2027 savings: SEK 18M from reorganization and SEK 5M from facilities.