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Q1 report
2012-05-02 Q1 report 1
• Growth in Sweden
• Poland performing well
• Operations in Finland
runs according to plan
• Still weak performance
in International
• Sales decrease still an
effect from the
decrease in Nokia
account and two
telecom management
projects in Africa
Q1 2012
2012-05-02 Q1 report 2
SEK million Q1
2012
Q1
2011
Sales 374.8 382.1
Employees 1,533 1,731
EBITDA 26.3 29.8
EBITDA % 7.0% 7.8%
EBIT 18.5 2.9*
EBIT % 4.9% 0.8%
Cash flow 32.2 0.2
EPS 0.25 -0.02
Equity/assets ratio 56.5% 61.9%
* Impairment loss of SEK 16 million due to Nokia burdened EBIT
Sales & EBITDA RTM
2012-05-02 Q1 report 3
• Need to intensify efforts to become more efficient
– Integration of operations still not good enough
– Global structure and delivery capacity need to be optimised to
better benefit from the company's business model
• Need to invest in our employees and our culture
– More focused and effective sales
– Strengthen profitability through controlled skills development
• Change internal focus to external focus
• Further analysis ongoing
CEO initial findings
2012-05-02 Q1 report 4
Sales highlights in Q1
2012-05-02 Q1 report 5
• Cybercom chosen industry expert partner by
Ericsson to develop services and products for the
automotive industry
• An SEK 20 million order over one year for
verification of hardware in mobile services
• Four years contract for the Finnish National Board
of Education
• The ten largest clients 47% (45) of sales
• The biggest client 11% (13) of sales
• Framework-agreement clients 52% (61)
• Turnkey assignments 38% (45)
• Major clients – Alma Media Group, Ericsson, H&M, Millicom, MTV, SAAB
AB, Sony, ST Ericsson, TeliaSonera, and Volvo.
40%
24%
20%
5%3%
4% 4%
Telecom 40% (46%)
Industry 24% (20%)
Public sector 20% (17%)
Media 5% (5%)
Banking & Finance 3% (4%)
Retail 4% (3%)
Other 4% (6%)
Segment Sweden
2012-05-02 Q1 report 6
• Good market, no remarkable changes since Q4
• Extension of key contracts with major customers
• Continued high use of sub-consultants
• Good inflow of recruits
• Regional differences in utilisation
• Integration and more efficient processes across all
business areas to be continued
• Sales force to be expanded
SEK million Q1 2012 Q1 2011
Sales 289.4 278.0
Employees 957 996
EBITDA 26.2 25.8
EBITDA, % 9.1% 9.3%
Sweden 76%
Finland 15%
International 9%
• Operation developed according to plan
• Decrease in sales due to 2011 downsizing from Nokia
assignment
• Business climate is still somewhat uncertain
• More inroads in the public sector
• Growth in industry and media
• Step by step working towards the recovery of earlier levels
of profit and sales
Segment Finland
2012-05-02 Q1 report 7
SEK million Q1 2012 Q1 2011
Sales 56.0 71.1
Employees 273 463
EBITDA 4.9 7.1
EBITDA, % 8.8% 10.0%
Sweden 76%
Finland 15%
International 9%
• Less volume in Telecom management projects and weak trend in
the Chinese operation
• Reinforced sales
– Initial assignments in Latin America for review of mobile networks
– Security assignment for a Swiss bank in MEA
– Framework agreements with Danske Spil and the City of Copenhagen
• Continued good performance in Poland with increased number of
employees
Segment International
2012-05-02 Q1 report 8
SEK million Q1 2012 Q1 2011
Sales 41.2 44.6
Employees 282 246
EBITDA -1.6 2.6
EBITDA, % -3.9% 5.8%
Sweden 76%
Finland 15%
International 9%
• The Nordic IT services market was worth €18,3 billion in
2010 and is expected to grow to €21,1 billion in 2015,
representing an annual growth of around 3%. Swedish IT
market is double the size of other Nordic countries.
• Competition is becoming increasingly global – Indian and
other offshore-based international players are gaining share.
The local players do not differentiate well from each other.
• IT market is shaped by a set of megatrends. Key trends
include commoditization and virtualization of IT, and the
increasing connectedness of the people, organizations,
devices and systems through pervasive IP. This trend is also
known as “the connected world” or “the internet of things”.
Nordic IT market overview
2012-05-02 9 Q1 report
Potential in connectivity business
2012-05-02 10
Operators
Device
Manufacturers
Platform
Developers
Application
& Service
Developers
Content
Providers
Infrastructure
Operators TeliaSonera
Telenor
Tele2
China Mobile
Millicom
3
Platform
Developers Apple Samsung
Qualcomm Intel
ST Ericsson TI
Google, Nokia
RIM Microsoft
Linux foundation
Infrastructure Ericsson
Nokia-Siemens
Cisco
Akamai
RedHat
HP
Content
Providers AlmaMedia Sony SF
SVT TV4 MTV3
Gracenote
Application
& Service
Developers AlmaMedia
Handelsbanken
Vägverket
SMHI Apello Scalado
Device
Manufacturers Nokia Apple
Sony Ericsson
HTC LG ZTE Samsung
Doro Sandvik Kone
Volvo Bosch
Q1 report
Cybercom’s way forward
11
1. Way of
working Decentralised Integrated
2. Business
portfolio Fragmented
Focused on few
businesses
3. Client
portfolio
Dependent on
few clients and
verticals
Balanced client
portfolio
4. Client
footprint
Narrow client
footprint
Broad client
footprint
5. Nature of
services
Competence
(CV)
Packaged
services
Current position
Future position
• We will be an
integrated company
with unified ways of
working.
• We will have a more
focused business
portfolio with fewer,
larger businesses.
• We will reduce our
relative dependency
on telecom by growing
other segments.
• We will increase our
footprint within our
clients through cross-
selling and end-to-end
services.
• We will have more
packaged and
outsourcing services.
2012-05-02 Q1 report
• Analysis of group structure and organisation
• Clients and new sales
• Optimisation of global delivery capacity
Focus coming quarter
2012-05-02 Q1 report 12
• New CFO starts June 1, 2012
• MBA from the Stockholm School of Economics
• Experience
– Logica: CFO of Logica Sweden
– WM-data: business controller and head of IR
and group treasury within the group
– SEB, Lexicon and the Swegro group
• Board member at Rusforest AB, listed on
NASDAQ OMX First North
CFO Camilla Öberg
2012-05-02 Q1 report 13
2012-05-02 Q1 report 14
