Interim Report Jan-Jun 2011 admin July 2011 Breadcrumb Home Interim Report Jan-Jun 2011 April–June Net sales totaled SEK 47.5 million (47.7)Software revenue (licenses and maintenance) totaled SEK 38.1 million (39.2)Operating profit (EBITDA) was SEK 7.2 million (5.9), and the operating margin (EBITDA) 15% (12)Net profit per share was SEK 0.77 (0.33)Cash flow from operating activities was SEK 9.9 million (-0.1)January–June Net sales totaled SEK 93.5 million (90.3), up 4% (-0.2)Software revenue (licenses and maintenance) totaled SEK 75.2 million (72.0)Operating profit (EBITDA) was SEK 14.7 million (11.4), and the operating margin (EBITDA) 16% (13)Net profit per share was SEK 1.57 (0.94)Cash flow from operating activities was SEK 22.1 million (2.0) CEO’s comment on performance In the Nordic region and internationally, we see promising and significant growth in our pipeline, not least thanks to several major projects. However, it’s harder to judge when major orders can be completed, and during the quarter fewer transactions were concluded than expected. The second quarter lacked growth, which consequently did not meet our expectations. It was satisfying to note an improved EBITDA margin: 15% compared to 12% for the same quarter the preceding year. During the period, Jeeves enhanced its growth and profitability. Sales for the period ended at SEK 94 million, for a growth rate of 4%. During the period, growth resulted above all from market recovery and improved software sales in the Nordic region. We have also gradually boosted capacity utilization for our consultants. Profitability has stabilized and improved, for an EBITDA margin of 16%. During the period, we saw increased demand in our markets outside the Nordic region, too, resulting in significant growth in our international pipeline. We are pleased that several of our new partners in the United States, Germany, and France landed their first key clients. While we were building orders in our pipeline, we strengthened our market offering with several product innovations. With Jeeves 3.0, to be launched this autumn, we will raise user-friendliness to an entirely new level.