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Sweden – NGS Group’s acquisition boosts growth

20 February 2014

Health and education recruitment firm NGS Group AB (NGS: SS) reported revenue of SEK 121.5 million (€13.6 million) for the fourth quarter ending 31 December 2013, an increase of +115.8% from SEK 56.3 million (€6.3 million) a year ago. The company reported net profit for the period of SEK 6.3 million (€705,216), equating to year-on-year growth of +186.4% from SEK 2.2 million (€246,266) in Q4 2012.

On an annual basis, NGS Group achieved revenue of SEK 392.8 million (€44 million), an increase of +96.4% from SEK 200 million (€22.4 million) in 2012. Net income for 2013 rose by +118.4% to SEK 24.9 million (€2.8 million), up from SEK 11.4 million (€1.3 million) in 2012.

The company’s impressive growth can be attributed to its May 2013 acquisition of Nurse Partner Scandinavia AB, which increased NGS Group’s healthcare market share in Sweden and Norway.

Ingrid Nordlund, Managing Director of NGS Group, commented: “During the fourth quarter, all business segments performed well and we achieved organic growth of +30%. With Nurse Partner included, the Group grew by +116% compared with the same quarter in 2012.”

“Challenges that arose in our Norwegian operations during the fourth quarter resulted in a decreased operating margin, but we strengthened our internal organisation to make sure that growth will continue. Taking these factors into account, we are satisfied with an operating margin of more than +7%,” she added.

In trading today, the company’s share price fell by -4.2% to SEK 136 (€15.22), an increase of +144.9% compared with a year ago. Based on its current share price, the company has a market value of SEK 274.5 million (€30.7 million).   

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