Mandator AB: Year-end report 2004

2/14/2005, 9:21 AM (Source: GlobeNewswire)
Improved earnings of SEK 118 million

Comments from CEO Niklas Flyborg
Looking back at the past year, we can conclude that Mandator achieved
all of its important goals in 2004. Especially encouraging, of
course, is the strong improvement in earnings of SEK 118 million,
which increased earnings per share by SEK 1,44. Sales have been the
key to our success. Sales per consultant on an annual basis have
increased by SEK 96,000. Through our specialised offering, our
experienced consultants improved the relations with our customers.
Business efficiency also improved substantially, as was reflected in
the utilisation rate, which increased by 7 percentage points to 74%
in 2004. In addition our efforts to streamline administrative costs
have now achieved full effect.

We are pleased to note that we are growing once again in our
important, though previously restrained, market in Stockholm. The
utilisation rate is greater than 90% and we are recruiting new
employees to meet the rising demand. In southern Sweden we expanded
to meet the growing demand in the telecom sector from both operators
and manufacturers. This expansion will continue during 2005.

The proprietary project management tool Cenit is one example of how
we achieve growth through solution-oriented sales. We gather and
package technical expertise and industry-specific knowledge to reduce
development time and clarify customer benefit. With Cenit we reach
customers in several different industries in which enterprises pursue
complex extensive projects.

We see tremendous growth potential in projects based on nearshore
outsourcing. In Estonia, over the past five years Mandator has
developed a position unrivaled by any other Nordic consulting
company. Mandator's wholly owned subsidiary in Estonia offers
outstanding expertise at competitive prices. The operation employs 85
consultants and the goal is to strengthen our market position,
increase our market share and grow rapidly.

We are now taking steps towards our long-range financial goals.
Mandator has created a platform for profitable growth. So far during
2005 we have recruited over 20 people.

Fourth quarter 2004
- Sales during the fourth quarter: SEK 113 (112) million
- EBITA: SEK 4 (-43) million
- Profit/loss after tax: SEK 15 (-28) million
- Utilisation rate increased by 7 percentage points to 79%
- Sales per employee increased by 27%
- Profit/loss after tax is affected by an increase in deferred tax of
SEK 15 million.

The period January - December 2004
- Sales: SEK 391 (421) million
- EBITA: SEK 13 (-72) million
- Profit/loss after tax: SEK 12(-106) million
- Earnings per share: SEK 0,09 (-1.35)

Stockholm, 14 February 2005

Mandator AB (publ)
Niklas Flyborg, CEO

The full report including tables can be downloaded from the following
View document
Questions regarding this report may be addressed to:
Niklas Flyborg, CEO, Tel: +46 705 949 678,
Robert Karlsson, CFO, Tel: +46 709 56 51 41,

Mandator AB
Maria Skolgata 81
Box 17540
SE-118 91 Stockholm, Sweden
Tel: +46 (0)8-402 31 00
Fax: +46 (0)8-402 31 48
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