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View All NewsSweden – Wise Group Q4 revenue up 10%
Wise Group (WISE:SS), the Swedish staffing firm reported revenue for the fourth quarter ending 31 December 2016 of SEK 193.8 million (EUR 20.4 million), an increase of 10% compared with SEK 176.5 million (€18.6 million) during the same quarter last year.
| (SEK millions) | Q4 2016 | Q4 2015 | Change | EUR (millions) Q4 2016 |
| Revenue | 193.8 | 176.5 | 10% | 20.4 |
| Operating Profit | 16.2 | 14.1 | 14.8% | 1.7 |
| Net Income | 10.0 | 10.3 | 3% | 1.0 |
Wise Group Full Year Revenue:
| (SEK millions) | FY 2016 | FY 2015 | Change | EUR (millions) FY 2016 |
| Revenue | 706.4 | 625.2 | 12% | 74.6 |
| Operating Profit | 43.3 | 34.0 | 27.3% | 4.5 |
| Net Income | 31.2 | 25.4 | 22.8% | 3.3 |
Revenue by business segment was broken down during Q4 2016 as follows:
| (SEK millions) | Q4 2016 | Q4 2015 | Change | EUR (millions) Q4 2016 |
| Recruitment | 45.9 | 40.0 | 14.7% | 4.8 |
| Consultant Services | 76.2 | 68.1 | 12% | 8.0 |
| HR Services | 71.7 | 68.5 | 4.6% | 7.5 |
Geographically, revenue during Q4 2016 broke down as follows:
| (SEK millions) | Q4 2016 | Q4 2015 | Change | EUR (millions) Q4 2016 |
| Sweden | 188.8 | 172.2 | 10% | 19.9 |
| Denmark | 76.2 | 68.1 | -12.3% | 8.0 |
| Finland | 2.7 | 1.7 | 57% | 0.2 |
“I'm happy with how we performed during the year,” Roland Gustavsson, CEO of Wise Group, said. “Wise Group continued to grow which is one of the main drivers for our employees and something that defines our entire culture. Our Swedish operations show a very positive development and it is gratifying to see that all segments of this growing stronger. We have good control in terms of our foreign operations. 2017 has all the makings of a good year with continued growth, improved margins and increased profitability for the entire Group.”
In trading yesterday Wise Group shares closed at SEK 66.5 (EUR 7.02), down 7.6% on the day. Based on its current share price the company has a market value of SEK 495.2 (EUR 52.3 million).