Performance & Targets
Gain insight into Ework Group’s financial performance through key figures, historical results and long-term financial direction.
Ework in Numbers
| Income statement summary, SEK (thousands) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Net sales | 13 188 655 | 16 069 954 | 17 209 323 | 15 764 103 | 13 740 517 |
| Cost of professionals on assignments | -12 705 211 | -15 470 888 | -16 551 869 | -15 152 739 | -13 173 155 |
| Capitalised work for own account | 14 781 | 18 823 | 14 196 | 13 171 | 10 797 |
| Other external costs | -91 580 | -125 777 | -129 233 | -106 023 | -120 080 |
| Personnel costs | -245 425 | -278 569 | -306 539 | -284 264 | -271 283 |
| Operating profit EBITDA | 161 345 | 213 620 | 235 879 | 234 248 | 186 796 |
| Depreciation and amortisation | -34 575 | -30 561 | -41 179 | -44 207 | -63 872 |
| Operating profit EBIT | 126 770 | 183 059 | 194 700 | 190 041 | 122 924 |
| Net financial items | -2 472 | -7 467 | -27 898 | -14 916 | -27 749 |
| Profit before tax | 124 298 | 175 592 | 166 802 | 175 125 | 95 174 |
| Tax | -26 311 | -36 402 | -37 774 | -36 615 | -18 945 |
| Profit for the year | 97 987 | 139 189 | 129 028 | 138 510 | 76 229 |
| Balance sheet summary, SEK (thousands) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Intangible assets | 61 595 | 67 827 | 66 509 | 59 270 | 30 768 |
| Property, plant and equipment | 2 803 | 9 479 | 7 157 | 3 320 | 1 199 |
| Right-of-use assets | 28 003 | 41 598 | 50 707 | 29 890 | 36 143 |
| Deferred tax asset | 4 469 | 5 546 | 6 132 | 5 280 | 6 660 |
| Non-current receivables | 857 | 4 906 | 4 942 | 10 688 | 9 383 |
| Accounts receivable | 3 246 162 | 4 122 864 | 3 741 799 | 3 310 890 | 2 940 931 |
| Tax assets | 3 426 | 0 | 873 | 947 | 19 113 |
| Other receivables | 15 383 | 24 491 | 12 027 | 62 385 | 37 197 |
| Prepaid expenses and accrued income | 206 957 | 191 436 | 115 550 | 97 963 | 81 610 |
| Cash and cash equivalents | 154 495 | 332 007 | 131 447 | 127 451 | 60 615 |
| Total assets | 3 724 151 | 4 800 154 | 4 137 144 | 3 708 084 | 3 223 619 |
| Total equity | 198 917 | 260 849 | 280 859 | 301 334 | 249 799 |
| Non-current liabilities | 11 437 | 18 036 | 26 695 | 19 125 | 22 080 |
| Current liabilities | 3 513 797 | 4 521 269 | 3 829 589 | 3 387 625 | 2 951 740 |
| Total equity and liabilities | 3 724 151 | 4 800 154 | 4 137 144 | 3 708 084 | 3 223 619 |
| Cash flow summary, SEK (thousands) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash flow from operating activities | 68 295 | 110 353 | 164 026 | 176 126 | 122 798 |
| Cash flow from investing activities | -15 086 | -28 560 | -16 947 | -11 213 | -10 806 |
| Cash flow from financing activities | -135 482 | 106 175 | -345 737 | -169 551 | -178 369 |
| Cash flow for the year | -82 273 | 187 968 | -198 659 | -4 637 | -66 378 |
| Key ratios | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Sales growth, % | 7,8 | 21,8 | 7,3 | -8,4 | -12,8 |
| Operating margin (EBIT), % | 1 | 1,1 | 1,1 | 1,2 | 0,9 |
| Profit margin, % | 0,9 | 1,10 | 1,00 | 1,10 | 0,7 |
| Return on equity, % | 47,7 | 53,4 | 47,6 | 47,6 | 27,7 |
| Balance sheet total | 3 724 151 | 4 800 154 | 4 137 144 | 3 708 084 | 3 223 619 |
| Equity | 198 917 | 260 849 | 280 859 | 301 334 | 249 799 |
| Equity/asset ratio, % | 5,3 | 5,4 | 6,8 | 8,1 | 7,7 |
| Quick ratio, % | 103,2 | 103,3 | 104,5 | 106,3 | 106,4 |
| Average number of employees | 280 | 314 | 335 | 283 | 270 |
| Net sales per employee | 47 102 | 51 178 | 51 371 | 55 704 | 50 891 |
| Per-share data | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Equity per share, SEK | 11,5 | 15,1 | 16,2 | 17,4 | 14,5 |
| Earnings per share before dilution, SEK | 5,7 | 8,1 | 7,5 | 8 | 4,4 |
| Earnings per share after dilution, SEK | 5,7 | 8,1 | 7,5 | 8 | 4,4 |
| Dividend per share, SEK | 5 | 6,5 | 7 | 7 | 4 |
| Number of shares, thousands | 17 240 | 17 287 | 17 287 | 17 287 | 17 287 |
| Average number of shares before dilution, thousands | 17 240 | 17 240 | 17 287 | 17 287 | 17 287 |
| Average number of shares after dilution, thousands | 17 247 | 17 287 | 17 287 | 17 287 | 17 287 |
Financial Targets
The Board of Directors has communicated its overall expectations for 2026, with a continued focus on profitable growth, operational efficiency and commercial performance. These efforts are aimed at ensuring stable financial development and creating long-term value for shareholders.
The year has started with lower volumes and weak order intake. Combined with the broader macroeconomic environment, the Company expects the trend of declining volumes to continue for some time, resulting in an estimated decrease in earnings per share (EPS) of 10–20 percent compared with 2025.
The Company will report regularly on progress in relation to these objectives.
Dividend Policy
Minimum 75% of net profit to be paid out to shareholders.
Why Ework Group?
Ework combines a leading market position with a scalable and capital-efficient business model. Together with long-standing customer relationships, a broad network of independent professionals and a growing demand for flexible talent solutions, this provides a strong foundation for profitable growth and long-term shareholder value.
✓ Scalable platform with operating leverage
Ework’s digital platform streamlines the entire chain from procurement to delivery. With AI-based services in daily production and a new customer portal, volumes can increase without the cost base growing at the same rate. This provides clear operating leverage on earnings when the market turns.
Gross margin: 4.1%
✓ Leading European talent partner
Ework operates in nine countries and has a network of over 240,000 consultants. Its diversified customer base spans both the private and public sectors. The scale of its network creates advantages in matching clients with consultants, strengthening delivery capabilities and competitiveness – and laying the foundation for profitable growth.
Countries: 9
Consultants: 240,000+
✓ Positioned for increased demand in AI and digitalisation
Demand for specialist expertise in AI, data integration, and digital transformation is growing rapidly. During 2025, Ework attracted over 20,000 new consultants to the network, a large proportion of whom were in these specific areas of expertise. This positions Ework at the heart of a structural growth trend that is expected to continue driving the need for flexible cutting-edge expertise.
New consultants in 2025: 20,000
✓ Capital-efficient model with high returns
Ework’s business model requires minimal tied-up capital. This allows a large proportion of profits to be returned to shareholders. The goal is to distribute at least 75 percent of net profit. At the same time, low debt creates room for value-creating investments and continued geographical expansion.
Dividend policy: ≥75% of net profit
✓ Flexible organisation built for scalability
Ework has a limited fixed cost base and a flexible delivery capacity. This allows the operations to be quickly adapted to changes in demand. In weaker markets, the downside is limited, and when volumes increase, the model provides significant operating leverage without requiring major new investments.
Low fixed cost base
Rapid adaptation to market changes