Sweco AB (publ) interim report January – September 2017
Stable development and major infrastructure wins
July – September 2017
- Net sales decreased to SEK 3,635 million (3,723)
- EBITA decreased to SEK 237 million (252), margin 6.5 per cent (6.8)
- EBIT decreased to SEK 219 million (228), margin 6.0 per cent (6.1)
- Profit after tax decreased to SEK 158 million (166), corresponding to SEK 1.32 per share (1,38)
January – September 2017
- Net sales increased to SEK 12,305 million (12,111)
- EBITA increased to SEK 1,044 million (941), margin 8.5 per cent (7.8)
- EBIT increased to SEK 995 million (871), margin 8.1 per cent (7.2)
- Profit after tax increased to SEK 743 million (655), corresponding to SEK 6.21 per share (5.47)
- Net debt decreased to SEK 2,311 million (2,315)
- Net debt/EBITDA decreased to 1.4 times (1.6)
Comments from President and CEO Tomas Carlsson:
Sweco had a stable development during the third quarter. We continue to streamline our business towards increasing profitability. Increased hourly fees and lower project adjustments contributed positively to the development. EBITA increased approximately SEK 20 million adjusted for calendar effects and last year’s extraordinary items. However, the reported numbers are nominally lower than last year as the quarter had less working hours.
Sweco was awarded several major infrastructure projects, during and after the quarter. The modernisation of Stockholm Central Station, design of Paris metro Line 15 and extension of E6 motorway in Norway are examples demonstrating Sweco’s market-leading capabilities within transportation infrastructure.
Our main priority is continued operational improvements. We remain focused on our customers, internal efficiency and having the best people in our business, in line with Sweco’s operating model. Backed by a strong financial position and as the market-leading architecture and engineering consultancy in Europe, Sweco is well-positioned for continued value-creating growth. Our strategy for the future is to repeat our history. We will continue to strengthen our Northern European footprint, through acquisitions and organic growth.
The market situation is similar across markets and is good overall. The market in Sweden remains strong, but growth is slowing down. The markets in Finland and the Netherlands continue to improve, from an earlier challenging environment. Essentially all other markets remain good.
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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 in Europe, we offer our customers the right expertise for every situation. We carry out projects in 70 countries annually throughout the world. Sweco is Europe’s leading engineering and architecture consultancy, with sales of approximately SEK 16.5 billion (EUR 1.7 billion). The company is listed on Nasdaq Stockholm.
This information is information that Sweco is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons, at 07:20 am CET on October 27 2017.