ANNUAL REPORT Services Continued to Develop Positively, and Increased During the Same Period
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BTS GROUP AB BTS Mexico BTS SOUTH AFRICA BTS Singapore 2008 in Brief Grevgatan 34 Av. Presidente Masaryk 111, Piso 1 Lakefield Office Park BTS Asia Pte Ltd BTS in Brief 114 53 Stockholm Col. Polanco Building C, 272 West Avenue 37B Kreta Ayer Road Sweden C.P. 11560 Mexico, D.F. Centurion, Gauteng 089001 Singapore Net turnover during the year increased by 5 percent and amounted to MSEK 548.4 (523.2). Adjusted Phone: +46 8 58 70 70 00 Mexico South Africa Singapore The BTS Group is an international consulting and learning company • Fax: +46 8 58 70 70 01 Phone: +52 (55) 3300 5800 Phone: +27 126 636 909 Phone: +65 6221 2870 for changes in exchange rates, growth was 8 percent. Fax: +52 (55) 3300 5999 Fax: +27 126 636 887 BTS is the world leader in customized business simulations and other discovery learning solutions that BTS BANGKOK BTS SWEDEN enable leading corporations to change, grow and succeed. We partner with our clients to develop the • The acquired business of APG declined 21 percent in local currency, whereas BTS excluding APG, Grevgatan 34 BTS UNITED STATES BTS AUSTRALIA BTS Business Consulting adjusted for changes in exchange rates, grew 19%. 114 53 Stockholm 300 First Stamford Place Level 4 (Thailand) Co., Ltd. mindset and capabilities that their people need to accelerate change and to improve business results. Sweden Stamford, CT 06902 61 York Street 23/F Thaniya Plaza Building • Operating profit before amortization on intangible assets (EBITA) decreased by 10 percent to Phone: +46 8 58 70 70 00 USA Sydney NSW 2000 52 Silom Road BTS has more than 250 highly talented professionals serving over 400 clients, including more than 50 of the Fax: +46 8 58 70 70 01 Phone: +1 203 316 2740 Australia Bangrak, Bangkok US Fortune 100 companies and 25 of the Global Fortune 100 world’s largest corporations. MSEK 79.8 (88.3). Fax: +1 203 316 2750 Phone: +61 2 9299 6435 Thailand BTS NORWAY Fax: +61 2 9299 6629 Phone: +66 2 235 4177 BTS is a global organization with 19 offices in North America, Latin America, Europe, Asia, Australia and • Profit before tax decreased by 7 percent to MSEK 67.6 (72.8). c/o Saga Corporate Advisors AS Chicago Fax: +66 2 236 7334 Rådhusgaten 27 33 N. LaSalle Street Melbourne South Africa. Profit after tax decreased by 8 percent to MSEK 45.0 (48.8). • 0158 Oslo Suite 1210 Suite 404 Norway Chicago, IL 60602 198 Harbour Esplande Demand for BTS’ services continued to be positive on all markets, apart from APG which developed • Phone: +47 24 14 54 60 USA Docklands, VIC 3008 2008 Vision: The World’s No.1 Learning & Development Consultancy — negatively and experienced considerably weaker demand during the year. Demand for general Fax. +47 24 14 54 59 Phone: +1 312 263 6250 Australia consulting- and learning services declined during the second half of the year, but demand for BTS Fax: +1 312 263 6110 Phone: +61 3 9670 9850 innovating how companies change, learn and improve. BTS FINLAND Fax: +61 3 9670 9569 ANNUAL REPORT services continued to develop positively, and increased during the same period. Eriksgatan 7C New York Mission: We partner with our clients to accelerate change and improve 00100 Helsinki 60 East 42nd Street BTS GROUP AB (PUBL) • Cross selling between BTS and the acquired company RLC continued to develop positively and Finland Suite 2434 business results. increased significantly compared to 2007. Phone: +358 9 68 11 270 New York, NY 10165 Fax: +358 9 68 11 2716 USA Value Proposition: We develop the mindset and capabilities that your people need New clients acquired during the year included: Alcoa, ConocoPhilips, Deloitte, Exportrådet, Ferrovial, (From 1 July) Phone: +1 646 378 3730 • Fax: +1 646 378 3731 to accelerate change and improve business results. Invitrogen, Leighton Mining, Logica, Mattel, Metso Minerals, National Foods, Publicis Group, Repsol and Kalevankatu 3 00100 Helsinki Subaru North America. San Francisco Finland 456 Montgomery Street Phone: +358 9 68 11 270 BTS make sure this delivers superior results and ROI through: A new BTS offices was opened in Mexico City. Suite 900 • Fax: +358 9 68 11 2716 San Francisco, CA 94104-2808 • Discovery-based solutions - “Learning by doing” — the most effective way to learn and change. BTS BELGIUM USA Phone: +1 415 362 4200 Key Ratios 2008 2007 Rue Breydelstraat 40 In-depth customization — to what is relevant and actionable on the job. Fax: +1 415 362 4270 • Net turnover, MSEK 548.4 523.2 1040 Brussels Belgium A comprehensive process that secures and measures the results. EBITA, MSEK 79.8 88.3 Philadelphia • Phone: +32 2 235 8604 Operating profit, MSEK 70.5 78.2 181 Washington Street Fax: +32 2 235 8610 Profit before tax, MSEK 67.6 72.8 Suite 540 Global corporations as our customers Profit after tax, MSEK 45.0 48.8 BTS UNITED KINGDOM Conshohocken, PA 19428 USA EBITA margin, % 15 17 346 Kensington High Street BTS currently works with more than 400 companies around the world that operate mainly in sectors of Phone: +1 484 391 2900 Operating margin, % 13 15 London W14 8NS Manufacturing, Telecom, IT, Financial Services, Pharmaceuticals & Biotechnology, Retail & Distribution England Fax: +1 484 391 2901 Profit margin, % 8 9 Phone: +44 207 348 1800 Fast Moving Consumer Goods (FMCG) and Energy. More than 25 of the world’s largest 100 corporations Scottsdale Operational capital, MSEK 266.9 193.9 Fax: +44 207 348 1801 measured by market capitalization are BTS customers. Examples of our customers are: 9455 E. Ironwood Square Drive Return on equity, % 20 26 BTS SPAIN Scottsdale, AZ 85258 Return on operational capital, % 31 41 Accenture Cisco Humana Schlumberger Unilever Paseo General Martínez Campos, 53 USA Solidity at the end of the year, % 56 50 - semisótano derecho Phone: +1 800 500 0024 AT&T Coca-Cola KPMG Sony Vattenfall Cash flow from current operations, MSEK 32.3 45.2 28010 Madrid Phone: +1 480 948 2777 Cash flow, MSEK -1.6 -4.5 Spain Fax: +1 480 948 2928 Autodesk Energy Australia Microsoft Telefonica Vodafone Liquid funds at the end of the year, MSEK 65.9 67.5 Phone: +34 91 417 5327 BBVA Ericsson Nokia Telstra Xerox Fax: +34 91 555 2433 ADVANTAGE PERFORMANCE GROUP Average number of employees 249 211 700 Larkspur Landing Circle BG GAP Norway Post Texas Instruments Number of employees at the end of the year 267 230 Bilbao Ste.125 Carlsberg HP Roche Toyota Net turnover per employee, MSEK 2.2 2.5 c/ Simon Bolivar 27 Larkspur, CA 94939 1a plta, dpt. 19 USA 48010 Bilbao Phone: +1 800 494 6646 Spain Phone: +1 415 925 6832 Earnings and dividend per share, SEK Net turnover per operational unit, 2008 Phone: +34 94 423 5594 Fax: +1 800 578 8587 SEK Fax: +34 94 423 6897 Fax: +1 415 925 9512 BTS Other Markets 3.0 7 % BTS´ Revenues 2004-2008 BTS´ Profit after tax 2004-2008 MSEK MSEK BTS Europe 2.5 25 % 600 60 548 BTS North America 523 68% 48.8 2.0 500 50 45.0 38.6 1.5 400 379 40 36.8 Net turnover by source of revenue, 2008 1.0 286 Other 300 30 5 % Licenses 0.5 206 20.4 16 % 200 20 Seminars 0.0 Development 61 % 10 2004 2005 2006 2007 2008 18 % 100 Earnings per share Dividend per share www.bts.com 0 0 Years 2003-2005 earnings per share and dividend per share have been adjusted by a correction factor of 0,3333 due to the split 3:1 in May 2006. 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 BTS GROUP AB BTS Mexico BTS SOUTH AFRICA BTS Singapore 2008 in Brief Grevgatan 34 Av. Presidente Masaryk 111, Piso 1 Lakefield Office Park BTS Asia Pte Ltd BTS in Brief 114 53 Stockholm Col. Polanco Building C, 272 West Avenue 37B Kreta Ayer Road Sweden C.P. 11560 Mexico, D.F. Centurion, Gauteng 089001 Singapore Net turnover during the year increased by 5 percent and amounted to MSEK 548.4 (523.2). Adjusted Phone: +46 8 58 70 70 00 Mexico South Africa Singapore The BTS Group is an international consulting and learning company • Fax: +46 8 58 70 70 01 Phone: +52 (55) 3300 5800 Phone: +27 126 636 909 Phone: +65 6221 2870 for changes in exchange rates, growth was 8 percent. Fax: +52 (55) 3300 5999 Fax: +27 126 636 887 BTS is the world leader in customized business simulations and other discovery learning solutions that BTS BANGKOK BTS SWEDEN enable leading corporations to change, grow and succeed. We partner with our clients to develop the • The acquired business of APG declined 21 percent in local currency, whereas BTS excluding APG, Grevgatan 34 BTS UNITED STATES BTS AUSTRALIA BTS Business Consulting adjusted for changes in exchange rates, grew 19%. 114 53 Stockholm 300 First Stamford Place Level 4 (Thailand) Co., Ltd. mindset and capabilities that their people need to accelerate change and to improve business results. Sweden Stamford, CT 06902 61 York Street 23/F Thaniya Plaza Building • Operating profit before amortization on intangible assets (EBITA) decreased by 10 percent to Phone: +46 8 58 70 70 00 USA Sydney NSW 2000 52 Silom Road BTS has more than 250 highly talented professionals serving over 400 clients, including more than 50 of the Fax: +46 8 58 70 70 01 Phone: +1 203 316 2740 Australia Bangrak, Bangkok US Fortune 100 companies and 25 of the Global Fortune 100 world’s largest corporations.