Interim report January-June 2005

Powerful earnings growth and improved operating margin

- Net sales were up by 10 per cent to SEK 1,733 (1,577) million - Operating profit grew by 34 per cent to SEK 142.8 (106.5) million - Operating margin was 8.2 per cent (6.8) - Profit before tax totalled SEK 161.2 (124.5) million - Profit after tax reached SEK 112.9 (90.5) million, equal to SEK 6.45 (5.23) per share Comments from Bo Jansson, Acting Managing Director: – SWECO enjoyed a successful first half of 2005 and achieved growth in volumes, an improved operating profit and an operating margin of over 8 per cent. – We have intensified our focus on Eastern Europe by acquiring 50 per cent of the Russian environmental consultancy Lenvodokanalproekt and through the establishment of SWECO Bulgaria. These ventures have given us a valuable local presence in fast-growing markets. – At the same time we have strengthened our positions in the Nordic home market, which has shown stable development. Based on these factors, our outlook for the rest of the year remains bright.