Interim report January-September 2005

Strong operating profit and improved operating margin

- Operating profit grew by 29 per cent to SEK 179.0 (139.0) million - Net sales were up by 7 per cent to SEK 2,416 (2,266) million - Operating margin was 7.4 per cent (6.1) - Profit before tax totalled SEK 231.5 (157.8) million - Profit after tax reached SEK 175.9 (115.4) million, equal to SEK 10.18 (6.62) per share Comments from Bo Jansson, Acting Managing Director: – SWECO has continued to perform well. Operating profit for the nine-month period was the highest in the company’s history. – We have strengthened our market positions and won a number of large and prestigious assignments both in the Nordic countries and growth markets of Eastern Europe. For example, SWECO has been chosen to develop the gas and oil sector in the Ukraine and Poland. In Russia, we have been selected to present an architectural design proposal for a whole new urban district outside St. Petersburg for 35,000 residents. In Sweden, SWECO has been commissioned for detail planning of a natural gas pipeline from Norrköping to Oxelösund. – We are actively participating in the ongoing international structural transformation of the industry, where the goal is to continue growing in the Nordic region and Eastern Europe. During the period, we acquired the Russian environmental consultancy Lenvodokanalproekt in St. Petersburg and two smaller engineering consultancies in Norway that will strengthen SWECO’s expertise in electrical and telecommunications engineering. – In view of our strong position and robust demand for the majority of SWECO’s services, our outlook for the rest of the year remains bright.