Sweden – Poolia Q3’s revenues and earnings improve with strong growth in Swedish markets
October 26, 2021
Poolia (POOL-B: STO), a Swedish staffing company, reported sales for the third quarter ending September 30, 2021 of SEK 463.7 million (EUR 46.3 million), an increase of 35.6% compared to the same period last year.
The company said that the increase in revenue was a result of an improved market after a strongly affected Covid-19 Q3 2020.
Both Poolia and Uniflex in Sweden showed strong growth. Finland also reported an improvement during the quarter.
| (Mkr) | Q3 2021 | Q3 2020 | Change | Q3 2019 (million euros) |
| Income | 463.7 | 341.9 | 35.6% | 46.3 |
| Operating profit | 26.7 | 5.4 | 394.4% | 2.6 |
| Operating margin | 5.8 | 1.6 | 262.5 | 0.5 |
| Profit after tax | 21.3 | 3.2 | 565.6% | 2.1 |
| (Mkr) | Q3 2021 | Q3 2020 | Change | Q3 2020 (EUR million) |
| Poolia Sweden | 140.7 | 92.1 | 52.7% | 14.0 |
| Poolia Germany | 18.5 | 20.7 | -10.6% | 1.8 |
| Poolia Finland | 12.5 | 9.6 | 30.2% | 1.2 |
| Uniflex Sweden | 263.3 | 200.5 | 31.3% | 26.3 |
| Uniflex Norway | 20.4 | 13.9 | 46.7% | 2.0 |
| Uniflex Finland | 8.3 | 5.1 | 62.7% | 0.8 |
Poolia Sweden’s third quarter 2021 was the best in several years. The company said that it had been successful in bringing in new customers and investments in several of Poolia Sweden’s specialist areas, such as Finance, IT and Life Sciences.
In Poolia Germany, sales have continued to decline, but the Group reported an operating profit in the segment compared with a loss last year.
In Finland, Poolia remained profitable during the third quarter of 2021 and the business showed revenue growth.
Uniflex Sweden’s third quarter showed revenue growth and the company also succeeded with its operating margin which amounted to 6.1% in the quarter.
In Norway, the group continued to grow rapidly. At the same time, Uniflex in Finland remained profitable during the third quarter of 2021 and the company reported sales growth.
Earlier this month, Poolia announced the appointment of new CEOs for Poolia Sweden and Uniflex Sweden. Jonas Nilsson has been appointed CEO of Uniflex Sverige AB while Mattias Melander has been appointed CEO of Poolia Sverige AB.
Poolia also reported sales of SEK 1.36 billion (EUR 135.9 million) for the nine-month period ending September 30, 2021, an increase of 29.5%.
Looking ahead, Jan Bengtsson, President and CEO, Poolia, said, “Poolia is well positioned for a growing market where our goal is to continue to gain market share. We have begun our growth journey and we have a strong balance sheet and good cash. We have good “customer relationships and managed to meet new customer needs and above all we have a very competent and committed staff. We have also begun to identify new investment areas and will invest in next year to grow both organically and through acquisitions.”
Shares in Poolia set a new 52-week high during today’s stock market when it reached SEK 17.25 (€ 1.72). During this period, the share price has risen 171.67%. The company was last traded at SEK 16.30 (€ 1.63), an increase of 5.84% on the day. The company has a market capitalization of SEK 550.90 million (EUR 55.1 million).
