2013-05-03 Q1 report 1

Q1 report 2013

1. First quarter largely in line with our expectations.

2. Market conditions are somewhat harder than in the previous quarter.

3. Visible results from cost structure program.

4. Net financial items strengthened by last year’s financial restructuring.

5. Increased net profit after tax.

Highlights Q1

2013-05-03 Q1 report 2

• Calendar effect of -2 days.

• Unusually high sick leave in the Nordic operations.

• Fewer employees.

• Currency effects SEK -3.5 million.

Q1 2013

2013-05-03 Q1 report 3

SEK million Q1 2013 Q1 2012

Sales 319.2 374.8

Employees 1,258 1,533

EBIT 15.7 18.5

EBIT % 4.9% 4.9%

Profit after tax 11.1 9.1

Cash flow 53.3 32.2

EPS, SEK 0.06 0.16

Equity/assets ratio % 63.3% 56.5%

Segment Sweden

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• Stable business.

• High sick leave and negative calendar effect with 2 days.

• Good development in Gothenburg operations.

• High competition in Stockholm market.

• Framework agreement with Telenor and The Swedish

Prosecution Authority.

• Extension of a major telecom project.

• Major internal digital communications solution for HSB.

SEK million Q1 2013 Q1 2012

Sales 241.6 289.4

Employees 795 887

EBIT 13.4 23.0

EBIT % 5.5% 7.9%

Sweden75% (76)

Finland16% (15)

International9% (9)

From 1/1 2013 excluding India

2012 restated numbers

SEK million Q1 2013 Q1 2012

Sales 50.7 56.0

Employees 237 273

EBIT 1.5 1.6

EBIT % 3.0% 2.9%

Segment Finland

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Sweden75% (76)

Finland16%(15)

International9% (9)

• Restructuring program completed.

• Negative calendar effect with 2 days.

• Mixed market, subdued demand and long decision times.

• Positive progress in Public and Industry segment.

• Application development for Helsinki Energy worth

approx EUR 1.2 million over two years.

• Expanded contract for application management and hosting services for

MTV Media Oy.

• Usability testing for Finland’s Social Insurance Institute.

• Concept and design of the user interface of Itella’s new corporate services.

Segment International

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Sweden 75%(76)

Finland16%(15)

International9%(9)

• Good profitability development.

• Positive growth on Connectivity Management business.

• Telecommunications Regulatory Authority (TRA) in the Sultanate of

Oman signed a contract for quality audit and evaluation of telecom

services in Oman.

• Development of software in payment terminals for MCX, a new

client in Poland.

• PCI-DSS security audit of the supermarket chain Real.

• Digitalisation of accounting processes for City of Copenhagen.

SEK million Q1 2013 Q1 2012

Sales 38.5 44.5

Employees 208 352

EBIT 3.1 -1.6

EBIT % 8.1% -3.6%

From 1/1 2013 including India

2012 restated numbers

Our Cashflow

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Cybercom Group, SEK million

Q1

2013

Q1

2012 2012 RTM

Cash flow before changes in w orking capital 3.9 4.9 16.8 15.8

Changes in w orking capital 49.4 27.3 -117.5 -95.4

Cash flow from operating activities 53.3 32.2 -100.7 -79.6

Investments in tangible and intangible f ixed assets -3.5 -3.5 -15.2 -15.2

Acquisition in subsidiaries/net assets - - -4.5 -4.5

Divestment of subsidiaries - - -7.4 -7.4

Other items - - 0.1 0.1

Cash flow from investing activities -3.5 -3.5 -27.0 -27.0

New share issue - - 115.8 115.8

Change in factoring and overdraft facilities -23.6 -12.6 43.4 32.4

Change in other f inancial liabilities -0.8 -0.8 -70.4 -70.4

Cash flow from financing activities -24.4 -13.4 88.8 77.8

Period's cash flow 25.4 15.3 -38.9 -28.8

Cash and cash equivalents at period's start 20.3 62.4 62.4 76.2

Exchange differences in cash and cash equivalents -1.0 -1.5 -3.2 -2.7

Cash and cash equivalents at period's end 44.7 76.2 20.3 44.7

Sales highlights in Q1

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• The ten largest clients 47% (47) of sales.

• The largest single client 11% (11) of sales.

• Framework agreement clients 59% (52). – Swedish Prosecution Authority, Telenor and Gothenburg

city’s estate management agency.

• Turnkey assignments 39% (38).

• Major clients

– Alma Media Group, Ericsson, Millicom,

MTV Media, SAAB AB, Sony Mobile,

ST-Ericsson, TeliaSonera, AB Volvo and

Volvo Car Corporation.

39%

22%

22%

5%

3%

3%

6%

Telecom 39% (40) Industry 22% (23)

Public Sector 22% (22) Media 5% (5)

Banking & Finance 3% (3) Retail 3% (4)

Other 6% (3)

Cybercom’s business domains

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• Assuring the end to end security, reducing

business risk.

• Good market, high potential for growth.

• SL, SAS, Real.

• Designing and adding needed

intelligence to clients’

products/devices.

• Good market.

• BankID, Doro, Ericsson, Kone,

MCX, Outotec, Saab,

ST-Ericsson.

• Assuring the connectivity,

making networks efficient and

manageable.

• Assignments worldwide.

• Millicom, TRA in Oman, Telenor.

• Providing the future connected

world solutions, for people and

devices.

• Intensified market competition.

• Helsinki Energy, HSB, Itella,

Kela, City of Copenhagen,

MTV Media Oy, Swedish

Municipal Workers’ Union.

Trends driving our market

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• The connected society – people, organisations, companies,

devices, machines and systems increasingly communicate with

each other through Internet Protocol (IP).

• Increased need for network capacity – mobile

and data network operators need to maximise

utility and expand and upgrade their networks to

meet increasing demand.

• Corporate delivery models – companies are

investing in online solutions and e-commerce

services to reach their customers.

• Productisation of IT – IT is increasingly becoming an

industrialised service, increasingly cloud-based.

• Increased proportion of offshore.

References

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Outotec – Virtual Experience Training

2013-05-03 Q1 report 12

“We seek top level expertise from our

partners and a solution that supports

the implementation of our strategy. We

trust the skills and delivery ability of

Cybercom.”

Jussi Järvinen

Outotec’s Product Development

Manager, Automation Product Line

SAS - Secure Payment (PCI DSS)

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“As Cybercom suggested a strict risk-

based approach for the whole project,

we quickly focused on doing the right

things first. This was an approach that

was also appreciated by our acquiring

banks.” Magnus Clarving, SAS IT Security Director

• The 2013 AllBright

Report ranked

Cybercom sector

number one for the

proportion of

women in

management.

CSR - Cybercom no 1 in 2013 AllBright report

2013-05-03 Q1 report 14

• Connectivity in Focus.

• Profit before growth.

• Public, Industry, Telecom.

• An efficient organisation.

• A three year plan.

Going forward

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Cybercom

Sweden Cybercom

Finland Cybercom

Denmark

Cybercom

Poland

Cybercom

MEA JV Cybercom

Datamatics

2013-05-03 Q1 report 16