Interim report January – September 2018 Sweco AB (publ)

Stable development

July – September 2018 

• Net sales increased to SEK 4,078 million (3,635)
• EBITA increased to SEK 264 million (237), margin 6.5 per cent (6.5)
• EBIT increased to SEK 244 million (219), margin 6.0 per cent (6.0)
• Profit after tax increased to SEK 168 million (158), corresponding to SEK 1.42 per share (1.32)

January – September 2018

• Net sales increased to SEK 13,623 million (12,305)
• EBITA increased to SEK 1,137 million (1,044), margin 8.3 per cent (8.5)
• EBIT increased to SEK 1,079 million (995), margin 7.9 per cent (8.1)
• Profit after tax increased to SEK 795 million (743), corresponding to SEK 6.69 per share (6.21)
• Net debt increased to SEK 2,747 million (2,311)
• Net debt/EBITDA increased to 1.5 times (1.4)

Comments from President and CEO Åsa Bergman:

Sweco continued to develop positively during the third quarter. EBITA increased SEK 27 million and organic growth amounted to 4 per cent. Overall, the growth was supported by a solid order backlog and an increased number of employees. There were no year-on-year calendar effects.

On the Business Area level, the positive development continued in Denmark, the Netherlands and Central Europe. Norway also improved significantly year-on-year, while Finland had a stable performance compared to same period last year. Sweden had a slower than normal start of the fall, while Western Europe was impacted by weakness in the UK business.

Overall, the market for Sweco’s services remains good, with variations between countries and segments. Essentially all eight core countries are experiencing good demand for Sweco’s services in infrastructure, water and the industry segments. Also demand in the real estate segment remains good in most countries, except in the UK and residential construction in Sweden and Denmark where demand is slowing down.

Our strategic direction remains firm. Sweco designs the communities and cities of the future. We are the European market leader, with strong customer relationships, highly motivated employees and a strong financial position. We will continue to strengthen our European leadership through organic growth and acquisitions in Northern Europe. Our operating model is based on decentralised responsibility, combining customer focus, internal efficiency and having the best people in the business. 

For additional information, please contact:

Åsa Bergman, President and CEO, +46 8 695 64 03 / +46 73 412 64 03

Jonas Dahlberg, CFO, +46 8 695 63 32 / +46 70 347 23 83

Lars Torstensson, Communications Director, +46 70 273 48 79

Sweco plans and designs tomorrow’s communities and cities. Our work produces sustainable buildings, efficient infrastructure and access to electricity and clean water. With 15,000 employees in Europe, we offer our customers the right expertise for every situation. We carry out projects in 70 countries annually throughout the world. Sweco is Europe’s leading engineering and architecture consultancy, with sales of approximately SEK 16.9 billion (EUR 1.8 billion). The company is listed on Nasdaq. Stockholm. www.swecogroup.com

This information is information that Sweco AB is obliged to make public pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:20 am CET on 8 November 2018.

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