SWECO AB (publ) Interim report January – September 2008

Operating profit up by 47 per cent

• Operating profit improved by 47 per cent to SEK 436.6 million (296.8).

• Operating margin was 11.0 per cent (9.1).

• Net sales increased by 22 per cent to SEK 3,962.8 million (3,259.6).

• Profit before tax was SEK 428.9 million (292.4).

• Profit after tax was SEK 306.5 million (209.3), equal to earnings per share of SEK 3.56 (2.41).

Comments from CEO Mats Wäppling:

“In the first nine months of 2008 we delivered a dramatic improvement in earnings and our operating margin rose to 11.0 per cent. The units in Sweden and Norway showed the strongest earnings growth. During the period, Sweco continued its expansion both in the Nordic region and in Eastern and Central Europe.

“This positive trend has been driven by a robust market in the majority of Sweco’s areas of operation. The current state of financial unrest had only a marginal impact on demand in the third quarter.

“Development in the long-term growth areas of infrastructure, energy and environment remains favourable. Among other things, Sweco has been awarded a contract for project management in connection with expansion of the Helsinki Metro subway system, Finland’s largest infrastructure project of all time. In Stockholm Sweco will perform a system analysis of the region’s future energy supply, and in St. Petersburg we have been chosen to provide sustainable urban planning for two whole new city districts.

“Market conditions are starting to deteriorate at an increasingly rapid pace and there is widespread uncertainty about how far-reaching the effects of the financial crisis will be. At the same time, Sweco’s healthy finances and leading market positions in a number of growth areas such as energy, environment and infrastructure vouch for stable long-term development.”