SWECO AB (publ) Interim report January-March 2009

Strong first quarter for Sweco

• Operating profit of SEK 166.2 million (157.3).

• Operating margin of 11.4 per cent (11.8).

• Net sales increased by 9 per cent to SEK 1,451.9 million (1,334.3)

• Profit before tax was SEK 173.8 million (155.3)

• Profit after tax of SEK 128.2 million (111.2) and earnings per share of SEK 1.47 (1.30).

Comments from CEO Mats Wäppling:

“2009 started well for Sweco, particularly in Sweden and Norway. Operating profit improved to SEK 166.2 million and net sales were up by 9 per cent.

“Keen demand has been noted for assignments related to the environment, energy and infrastructure, while the global economic downturn has inhibited demand for services in the construction sector and parts of the industrial sector, above all in Finland and Estonia. Market conditions have continued to deteriorate and will also affect our other service segments. In response to this, we are adapting our resources successively in pace with changes in the business climate.

”At the same time, the long-term outlook is positive in several of our areas of activity. The fundamental drivers underlying demand for our services are population growth and urbanisation, a growing awareness of environmental and climate issues and modernisation of the new EU member states. These trends are creating new business opportunities and stimulating demand primarily in the environmental, energy and infrastructure areas.

“Sweco’s growth strategy stands firm. Our healthy finances provide a platform for continued profitable growth and there is a high level of preparedness to seize new opportunities in the years ahead.”