2010-04-21 Q1-report1
• Restructuring costs of 18 MSEK
• Negative currency effect vs. 2009 in Finland, sales -13.9 MSEK and EBITDA -1.8 MSEK
• Planned write-off 3.2 MSEK per quarter (trade mark and customer relationships)
• Re-financing of debt package
Q1 2010
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Q1 2010 Q1 2009
Sales MSEK 410.1 477.6
Employees 1,803 1,969
EBITDA 21.6 17.4
EBITDA % 5.3% 3.6%
EBIT MSEK 8.7 -273.8
EBIT % 2.1% -57.3%
Underlying EBIT 6.5% 7.3%
Underlying EBITDA 9.7% 9.6%
Cash flow 13.1 -14.5
Equity/assets ratio 54.6% 41.5%
• Positive signs in a market that slowly leaves recession behind• IT investments 2010 + 1,4% in Sweden (Radar Group)
– Outsourcing on the agenda• Cybercom increases utilisation in the Nordic capitals
– Stockholm– Helsinki– Copenhagen
• Turbulent market in Malmoe-Lund• Global sourcing capabilities mandatory in private
sector frame agreements – beneficial to Cybercom• Cybercom grows internationally
– 45% of consultants outside Sweden– 38% growth in Romania – main nearshore hub– Chinese local customers
• Project pending phase in Cybercom’s Southeast Asia operation after successful deliveries to leading operators
• Limited opportunities for prices increases yet generally speaking but high hourly rates in Secure assignments
Market & trends in Q1
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• New Global Sourcing AM deal with Wireless Maingate
• Assignment for China Mobile increasing• Strategic partner to develop content and music
apps to the global leading mobile manufacturer• Assignment regarding the largest IT-Forensic
investigation in Europe in Q1• TeliaSonera frame agreement won in March with
40% cut in old supplier base• Cybercom elected in the M2M advisory
board for Telia• New customers include Autoliv, Bre Bank,
Payson, Östersunds kommun
Business highlights
2010-04-21 Q1-report4
5%
14%
14%
5%3%
3%
45%
11% Bank & Finance
Public Sector
Industry
Media
Retail
Other
Telecom - Suppliers
Telecom - Operators
• The ten largest customers make up 56% of sales
• Increased sales in Industry– Automotive
– Volvo Bus and Volvo Trucks – IAC Group
– Finnish industry sector
• More than 10 new frame agreements signed in Q1 – Sony Ericsson– TeliaSonera – PKT- Säätiö
• 64% sales from frame agreement
Sales per sector
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Mobile Apps is the thing
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“Trafikinfo”, Traffic informationprovides fast and easy information about the current traffic situation for Sweden. Use it before you hit the road.
Bank-ID for mobile devices
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• Finansiell IT-Teknik BID owns and administers Swedish Bank-ID technology
• Cybercom developed their solution for mobile use, based on international mobile security standards, to connect all parties
– Operators– Banks– Bank ID– Content providers
• Mobile ID on test among Swedish banks• Cybercom’s solution is used on the
international arena, delivered to 2 operators in India and 1 in Serbia
Q1-report
Local presence - Global reach
8 Q1-report2010-04-21
• Re-allocation of profits to the Nordics due to adjusted transfer pricing policy.
Q1 per segment
2010-04-21 Q1-report9
Q1 2010 SEK million NordicsOther
Europe AsiaCybercom
GroupSales to external customers 379.3 2.0 28.7 410.1
Sales to other segments 2.8 7.8 6.9 -
Underlying EBITDA 41.4 -0.9 2.7 39.6
EBITDA margin 10.8% -9.2% 7.6% 9.7%
Number of employees 1,364 145 277 1,803
Q1 2009 SEK million NordicsOther
Europe AsiaCybercom
GroupSales to external customers 443.3 4.1 30.2 477.6
Sales to other segments 2.6 7.0 4.6 -
Underlying EBITDA 46.4 0.0 3.9 46.0
EBITDA margin 10.4% 0.0% 11.2% 9.6%
Number of employees 1,542 154 254 1,969
EBITDA, rolling 12 months
2010-04-21 Q1-report10
• Cybercom has re-financed its long-term debt package in April
• The reason for the re-financing was a more benign financial market, that created an opportunity for a better financing agreement. Cybercom has continued to meet its covenants according to plan
• The new agreement is considerably better suited to Cybercom’s business and expansion strategy
• Cybercom’s capital structure will improve through the re-payment of 50 MSEK of cash, and the introduction of an equally large new Revolving Credit Facility
• By early May, total outstanding debt will be approximately EUR 24
Re-financing of debt package
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Debt situation
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• With a continued strong operating cash flow, Cybercom is amortizing the bank loans at a considerable pace
• By mid-May, the Group’s total loan will be approximately 24 MEUR
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MSEK
Bank loans
Cash flow RTM
• New Cybercom corporate credit card contributes to Barncancerfonden• A total of 0.4% of all charges made to a Cybercom credit card will go to
childhood cancer research• A financially advantageous deal with Eurocard• It contributes to Cybercom’s external image as well as internal culture
New corporate card agreement
2010-04-21 Q1-report13
GSMA Mobile World Congress Barcelona, Spanien
CTIA Wireless show Las Vegas, USA
Explore your future, test-seminarium med James Bach
Lund, Sverige
Så skapar du en framgångsrik webbstrategi, ett
frukostseminarium Stockholm, Sverige
IT-Brottslighet frukostseminariumStockholm, Sverige
Webbdagarna, arrangerat av Internet WorldStockholm, Sverige
Industry Forum Machinery Vanajanlinna, Finland
Open Source seminarium med IT-universitetet i Göteborg
Huskvarna, Sverige
Mobile Megatrends 2010Malmö, Sverige
Events Q1 2010
2010-04-21 Q1-report14
• Strong focus on profitability and cash flow• Geared for growth in Nordic capitals,
India and China• Optimize Group structure• Leverage from our core
offerings and a specialized, scalable global delivery organization
• Increase brand visibility for customers, present and future employees
The simple way forward
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