SWECO AB (publ) Interim report January – September 2010
Improved market, but slow recovery
July – September 2010
- Net sales of SEK 1,088.9 million (1,062.8).
- Operating profit of SEK 69.6 million (64.8).
- Operating margin of 6.4 per cent (6.1).
- Profit after tax of SEK 45.0 million (41.5) and earnings
per share of SEK 0.49 (0.46).
January – September 2010
- Net sales of SEK 3,793.4 million (3,909.6).
- Operating profit of SEK 304.2 million (348.5).
- Operating margin of 8.0 per cent (8.9).
- Profit after tax of SEK 214.1 million (248.6) and earnings
per share of SEK 2.37 (2.80).
- Strong financial position with a net receivable of
SEK 36.3 million (189.7).
Comments from CEO Mats Wäppling:
“The market has improved and we are seeing clear signs of growth in demand, among other things in the industrial and construction sectors. But pace of recovery is slow, which is also reflected in our third quarter profit. Four of our six business areas reported stronger earnings and operating margins of over 10 per cent.
“Our growth strategy stands firm and we are continuing to take advantage of new opportunities. Following the acquisition of Aros Arkitekter in early October Sweco now has more than 500 architects, which makes us the largest architectural firm in the Nordic region and one of the five largest in Europe. So far this year Sweco has grown by close to 300 employees through acquisitions in Sweden, Norway and Poland.
“Sweco’s healthy finances and leading market positions in environment, energy and infrastructure provide an excellent platform for continued profitable growth, both organic and through additional acquisitions in both existing and new markets in Europe.”
For further information please contact:
Mats Wäppling, President & CEO of Sweco
Telephone: +46 8 695 66 07 / Mobile +46 70 645 03 21 email@example.com
Bo Jansson, Vice President & CFO of Sweco
Telephone: +46 8 695 66 06 / Mobile: +46 73 412 66 06 firstname.lastname@example.org
Sweco is a provider of international consulting engineering services with combined expertise in engineering, environmental technology and architecture. The Group has annual sales of approximately SEK 5.3 billion and 5,300 employees in eleven countries. The company has projects currently underway in some 90 countries worldwide. Sweco is listed on NASDAQ OMX Stockholm AB.
The information contained herein may be subject to the disclosure requirements in the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was submitted by Sweco for publication at 11:50 CET on 2 November 2010.