2011-04-28 Årsstämma1

RevisionsberättelseAnders Malmeby

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VD- och koncernchef Patrik Bomans

anförande

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Cybercom Group

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• Cybercom is a Nordic IT consultancy with global delivery capability for turnkey solutions as well as specialist expertise

• Create business value for our customers by working with a long-term partner strategy

• Being a fast moving company by focusing on markets with strong growth

• A well recognized supplier in security, internet and mobile services, embedded systems and telecom management

• Extensive industry and operations experience, offering strategic and technical expertise in key segments as Telecom, Industry, Media, Public and Finance

• Founded in 1995 and listed on the NASDAQ OMX Nordic Exchange since 1999

• Operates around the world via 25 offices and 10 countries in Europe, Asia and the Americas

Core offerings

Evolution

Årsstämma5

2007-2008The aquisitions of auSystem and Plenware were based on a strategic belief in the importance of increasing size, and of offshore capacity. Plenware also added Finland and Nokia

2009 -Integration of acquired units, and an increasing understanding of how to define, optimise and benefit from the new market position

2006Cybercom was a medium-sized,Stockholm-focused IT consultant among many others, with an strong dependancyon one customer (~45%)

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+ Dubai

“Cybercom’s is a complete supplier in the eco system of

communication’s services”

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“And so acts as a catalyst between telecom and other sectors, providing

solutions and reusing knowledge”

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Eco-system of communications

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Operators

Device Manufacturers

Platform Developers

Application & Service

Developers

Content Providers

Infrastructure

OperatorsTelia

TelenorTele2

China MobileMillicom

3

Platform Developers

Apple SamsungQualcomm Intel

ST Ericsson TIGoogle Symbian

RIM Windows Linux foundation

InfrastructureEricsson

Nokia-SiemensHuaweiCisco

Akamai

Content Providers

Telia Sony SFSVT TV4 GracenoteFacebook

Twitter

Application & Service

DevelopersHandelsbanken

VägverketSMHI Apello

Scalado

Device Manufacturers

Nokia AppleSony Ericsson

HTC LG ZTE SamsungDoro SaabVolvo Bosch

Sales by segments

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(58%)

(14%)

(12%)

(4%)

(3%)

(3%)

(6%)

• 10 major customers accounts for 50% of sales

• Frame agreements accounts for 70% of sales

Our customers

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Telecom Industry Public

Media RetailFinance

Årsstämma

Local presence Global reach

11

Stockholm, Gothenburg, Malmö, Huskvarna, Karlskrona, Linköping, Lund, Sundsvall, Östersund,

Warzaw, Lodz

Tampere, Helsinki, Turku, Hyvinkää, Copenhagen Cluj Napoca

Dubai

Mumbai, New Delhi, Bangalore

Singapore

Beijing, ChengduSan Jose

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“2010 a cautious market”

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• IT and IT services characterized as a mature business, with knowledgeable buyers, and a need for specialization and operational excellence– It was, and still is, a global market with global competition– Economic downturn resulted in strong price pressure from already low levels

since last recession• The market moved more and more towards services rather than hours

and products• Cloud services trend confirmed, will lead the development in IT for the

next 20 years (IDC) and in 2012 will 25% of the IT delivery be cloud-oriented services (Gartner)

• Worldwide mobile phone sales grew 35% in Q3 2010; Smartphone sales increased 96% (Gartner)

• Outsourcing and offshore services gained market shares

Market and macro trends

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• Cybercom’s sales was SEK 1,528.9 million (1,751.6), decrease due to staff layoffs in 2009 and early 2010 and exchange rate effects

• EBITDA totaled SEK 112.2 million (144.1) • EBITDA margin of 7.3% (8.2) • Excluding restructuring program costs, EBITDA margin was 8.5%• EBIT amounted to SEK 61.5 million (-177.7) • EBIT margin of 4.0% (-10.1) • EPS of SEK 1.21 (-6.23) • Total of 1,727 employees (1,818) • Improved equity/assets ratio of 61.8% (53.3)• Cash flow from operating activities, SEK 76.8 million (128.4), continued to be

satisfactory, the equity/assets ratio increased to 61.5 per cent (52.3), and the company had a stable financial position.

• Cybercom closed down its Estonian operation due to completed customer project

2010 in numbers

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Sales & EBITDA RTM

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Business highlights

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• Successfully winning frame agreements in public sector

• Appointed forensics Investigations partner to Master Card and Visa

• Chosen by Telia to develop new M2M solutions in partnership with, Cisco, Ericsson and Intel

• Develops mobile bank for Handelsbanken

• Music applications development assignment for China Mobile - downloaded over 1 million times

• Telecom managed services in emerging markets– Improved the 3G data network for Indonesia’s biggest

mobile telecom operator, Telkomsel

– Digicel Pacific, preparation of a network master plan for Papua New Guinea

• Increased shares of global sourcing assignments– Wireless Maingate, Scalado, Assa Abloy, Kone Cranes, ST Ericsson

CSR Committment and Sustainabilityreport

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“A more effective Cybercom, geared for increased profitability and growth”

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• New organisation in Sweden– The three subsidiaries in Sweden were merged

into one with new management and nationwide business areas based on Cybercom's core offerings.

– Peter Keller-Andreasen, vice president of the Cybercom Group, was appointed managing director of Cybercom Sweden

• An equivalent efficient organisation has been implemented in Finland– New management was appointed and Petteri

Puhakka was recruited to the position of managing director

• Streamlined operations in low-cost countries and linked them more closely to the new business areas in Sweden and Finland.

Optimising the organisation

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“With a more efficient organisation in the Nordics combined with dedicated

offshore delivery capacity, I see clear opportunities for Cybercom to be more competitive with increased profitability

for 2011”

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Utdelning

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The nomination committee’sproposal

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Cybercom Board 2011

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Jon Risfelt, chairman

Hampus Ericsson

Ulf Körner

Thomas Landberg

Margareta Alestig Johnson

Roger Bergqvist

Remuneration guidelines for senior executives

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Changes to the articles of association

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Q1 2011

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Q1 2011

2011-04-28 Q1-report27

SEK million Q1 2011 Q1 2010Sales 382.1 410.1Employees 1,731 1,803EBITDA 29.8 21.6EBITDA % 7.8% 5.3%EBIT 2.9 8.7EBIT % 0.8% 2.1%Cash flow 0.2 13.1Equity/assets ratio 61.9% 54.6%

• Currency effects of SEK -12,7 million on sales and on EBITDA SEK -1,4 million• An impairment loss of SEK 16 million due to Nokia

Sales & EBITDA RTM

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• Nordic consulting market is improving• Cybercom’s operations

– Positive trend, March in Sweden is on very good levels– Finnish market unpredictable due to Nokia

• A positive trend on recruitments – turning back to net growth in March• Increasing demand in all segments, in particular Automotive and Industry• Possibilities for price increase • OH-ratio and cost levels need to decrease further• High demand for Mobile applications, 4G, Cloud services, Security and Vehicle

Intelligence Technologies• USA and Asia are leading the development of mobile services and smart phones

Q1 observations

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Sales by sector

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• Major customers– Alma Media Group, Ericsson, H&M, IKEA, Millicom,

Nokia, SAAB, Sony Ericsson, ST-Ericsson, TeliaSoneraand Volvo

• Some new customers– Nynäs Petroleum, Gant, Sollentuna Kommun, Insta

Defsec, Danske skatteverket and GETESA• Largest customer is 13% (19) of sales• 10 largest customers is 45% (56) of sales• Frame agreement s is 61% (64) of sales • Significant growth within industry segment, incl

automotive, also energy is a growing segment within Cybercoms sales

• Development for Nynäs Petroleum • Linux integration for a leading telecom company • Enhanced activities for MTV3

Business highlights Q1

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• Chosen for develop Intelligent Vehicle technology concept for Germany´s largest Automotive supplier

• Infotainment on Android for SAAB

• 4G optimization for Telenor• 4G assignment for an operator in south America• A complete audit including technical audit,

operational/organizational audit andnetwork cost audit for an operator inEquatorial Guinea

• Enhanced assignment for Teleste • Virtual guidebook as iPhoneapp for Norway’s largest publisher, Gyldendal Norsk Forlag

• Image development for Scalado• Outsourcing of test for ST

Ericsson

• To better reflect Cybercom’s current business model

• Sweden, including the operations in Cybercom's joint venture in India

• Finland, including the operations in Romania and Beijing, China

• International, including operations in Denmark, Singapore, Poland, USA and Chengdu, China.

• The units in India, Romania and Beijing are working almost exclusively with delivery to Cybercom's onshore facilities, while the units in the segment International primarily are selling to local customers

Cybercom’s new segments

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72%

18%

10%

Sweden 72%

Finland 18%

International 10%

Local presence Global reach

33

Stockholm, Gothenburg, Malmö, Huskvarna, Karlskrona, Linköping, Lund, Sundsvall, Östersund,

Warzaw, Lodz

Tampere, Helsinki, Turku, Hyvinkää, Copenhagen Cluj Napoca

Dubai

Mumbai, New Delhi, Bangalore

Singapore

Beijing, ChengduSan Jose

2011-04-28 Q1-report

• New organisation in Sweden in effect from 1 January 2011• Some extra costs for systems integrations and travel expenses • Decrease of OH-ratio long term• Business areas covering all of Sweden

– Internet services– Connected devices– Security and strategy services– Communication and integration services– Test and verification services

• March on good levels

Segment Sweden

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SEK million Q1 2011 Q1 2010Sales 274.9 288.7Employees 996 1,075EBITDA 25.8 15.7EBITDA, % 9.3% 5.4%

• New organisation in effect from Q2– In line with new strategy– Impact from NSN (Q410-Q111) and Nokia (Q211)– Decrease of OH-ratio long term

• Business areas covering all of Finland– Internet services– Connected devices

• Competence transfer from telecom related services to IS/IT and moving towards higher exposure in Industry, Public, Media and Energy sectors

Segment Finland

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SEK million Q1 2011 Q1 2010Sales 68.7 76.1Employees 463 464EBITDA 7.1 10.4EBITDA, % 10.0% 12.8%

• Nokia announced a completely new strategy including co-operation with Microsoft

• Nokia account represents 4% of Cybercom Group sales annually, including delivery from Finland, Romania and Beijing sites

• Nokia will concentrate to their top suppliers, and Cybercom’sbusiness will be limited in 2H 2011

• After the announcement, several assignments have been prolonged• New opportunities identified with Nokia Microsoft and with Nokia

related technology (Qt, MeeGo) • An impairment loss of SEK16 million, due to Nokia regarding

customer relations from acquisition of Plenware Oy

Nokia effect

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• Singapore and Chengdu have won several new projects with new customers• Denmark has had some challenges in utilisation in Q1• Two major orders signed in Poland secures utilisation for Q2

Segment International

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SEK million Q1 2011 Q1 2010Sales 38.6 45.6Employees 246 247EBITDA 2.6 -0.7EBITDA, % 5.8% -1.5%

Financial position

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• New four years loan agreement in place• Loan of 170 MSEK• Amortisation plan of SEK 11 million per quarter• Considerable strategic freedom of action

Number of employees

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• Benefit from the economic recovery in the Nordics combined with new organisational set-up onshore and offshore

• Higher demand for turn-key solutions gives opportunity for growth, better efficiency and higher profitability

• Explicit demand for global delivery - our competitive edge and a clear path for customer cost reductions and increased market share for Cybercom

• Strong focus on recruitment and employee retention with an ambition to grow +100 FTEs in 2011

• Refinancing gives considerable strategic freedom of action

Looking ahead

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