Sweco’s acquisition of Vectura exceeds expectations
On 29 November Sweco is hosting a Capital Markets Day for analysts, investors and the media. Ahead of this event, Sweco announces that the synergies from the Vectura acquisition are expected to be both greater and realised more quickly than originally anticipated. At the same time, the integration costs are expected to be lower than previously estimated.
“Previous estimates have been confirmed and reinforced. We are now anticipating that the merger with Vectura will exceed our earlier expectations. We are the Nordic region’s leading consulting engineering company and see good prospects for continued profitable growth ahead,” says Tomas Carlsson, President and CEO of Sweco.
The current assessment is that annual synergies will amount to SEK 90 million for the full year 2015 and that SEK 70 million can be realised on a full-year basis already in 2014. At present, the integration costs are estimated at a total of SEK 65 million, of which SEK 15 million was recognised in the third quarter of 2013. Of the remaining SEK 50 million in integration costs, the vast majority is expected to be charged during the fourth quarter of 2013.
Vectura is part of Sweco since 1 August this year and an intensive integration process is currently underway. With its market-leading position in transport infrastructure, Vectura contributes valuable expertise to Sweco’s combined range of services in sustainable engineering and design. To further strengthen the client offering, Sweco Sweden will implement a new organisation as of 1 January 2014, in which Sweco will establish three focused infrastructure companies in the areas of rail, traffic and urban planning and civil engineering.
For more information contact:
Tomas Carlsson, President and CEO, telephone +46 8 695 66 60 / +46 70 552 92 75, tomas.carlsson@sweco.se
Jonas Dahlberg, CFO, telephone +46 8 695 63 32 / +46 70 347 23 83, jonas.dahlberg@sweco.se
Bo Jansson, Senior Vice President, telephone +46 8 695 66 06 / +46 73 412 66 06, bo.jansson@sweco.se
Sweco is an international consulting group with combined expertise in consulting engineering, environmental technology and architecture. Sweco has annual sales of approximately SEK 8.8 billion and around 9,000 employees in the Nordic region and Central and Eastern Europe. The company has projects currently underway in some 80 countries worldwide. Sweco is listed on NASDAQ OMX Stockholm AB.
The information contained herein is subject to the disclosure requirements of Sweco AB under the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was released for publication on 29 November 2013, 8:00 a.m. CET.