SWECO AB (publ) Interim report January-September 2015

Solid underlying results - taking a leadership position in Europe

JULY – SEPTEMBER 2015                                                                                                                                    

• Net sales: SEK 2,024.3 million (2,000.1)
• EBITA excl. extraordinary expenses: SEK 138.8 million (155.2); margin: 6.9 per cent (7.8)
• EBITA: SEK 108.5 million (155.2); margin 5.4 per cent (7.8)
• Operating profit: SEK 94.4 million (143.2); margin 4.7 per cent (7.2)
• Profit after tax: SEK 61.4 million (92.3); earnings per share: SEK 0.64 (1.02)

JANUARY – SEPTEMBER 2015

• Net sales: SEK 7,038.9 million (6,659.1)
• EBITA excl. extraordinary expenses: SEK 600.7 million (559.3); margin: 8.5 per cent (8.4)
• EBITA: SEK 540.7 million (548.0); margin: 7.7 per cent (8.2)
• Operating profit: SEK 501.4 million (510.4); margin: 7.1 per cent (7.7)
• Profit after tax: SEK 353.7 million (334.8); earnings per share: SEK 3.81 (3.78)
• Net debt: SEK 1,741.1 million (1,703.8); net debt/EBITDA: 1.8 times (1.9)

Comments from President and CEO Tomas Carlsson:

• Sweco has acquired the Dutch company Grontmij (with around 6,000 employees), creating Europe’s leading engineering and architecture consultancy with sales of approximately SEK 15.2 billion and approximately 14,500 employees. Grontmij became part of Sweco on 1 October and integration is proceeding according to plan. Sweco held 97.36% of all Grontmij shares at the close of the reporting period and will implement a compulsory redemption of the remaining shares.
• Sweco Sweden continues to improve its results, while earnings for Sweco Finland are once again on a good level after a weak Q2. Overall results for the quarter were impacted primarily by extraordinary expenses related to the Grontmij acquisition and by lower earnings in Norway. Grontmij’s accounts will be consolidated into Sweco as of the fourth quarter.
• The market is stable overall, although stability is uneven among our our submarkets. The Swedish market is good, with positive development within infrastructure and the construction and real estate sector. The Norwegian market is undergoing change due to the low price of oil, but is stabilised by public investments. The Central European and Finnish markets have stabilised.

For additional information please contact: 

Tomas Carlsson, President & CEO, telephone  +46 8 695 66 60, tomas.carlsson@sweco.se 

Jonas Dahlberg, CFO, telephone +46 8 695 63 32, jonas.dahlberg@sweco.se 

Åsa Barsness, Communications Director at Sweco, +46 8-695 66 40, asa.barsness@sweco.se 

Sweco plans and designs tomorrow’s communities and cities. Our work produces sustainable buildings, efficient infrastructure, and access to electricity and clean water. With 14,500 employees, we offer our customers the right expertise for every project. We carry out assignments in 70 countries annually. Sweco is Europe’s leading engineering and architecture consultancy, with sales of approximately SEK 15.2 billion (pro forma 2014). The company is listed on NASDAQ OMX Stockholm AB.                        

Sweco is required to disclose the above information under the provisions of the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 23 October 2015 at 7:20 AM CET.