Improved profit in a stable market.
JULY – SEPTEMBER 2014
JANUARY – SEPTEMBER 2014
Comments from President and CEO Tomas Carlsson:
- Operating profit is the highest for any third quarter in Sweco’s history. The positive trend is mainly due to the successful and completed integration of Vectura as well as improved profit in Central Europe. Sweco’s sales were up 11 per cent, of which 4 per cent was organic. Organic growth was particularly strong in Finland and Norway.
- Overall, the market is stable and no major changes have taken place since the second quarter. The Swedish market improved somewhat during the quarter and the Norwegian market is stable. Markets in Finland and Central Europe remain challenging.
- The Board of Directors adopted a new financial strength target: net debt of less than two times EBITDA. Concurrently with this, Sweco refinanced a SEK 800 million 5-year credit facility. With the new financial target and long-term financing Sweco is achieving a cost-effective capital structure and enabling additional value-creating acquisitions.
- After the reporting period Sweco has been commissioned by the Stockholm County Council to design an 11-kilometer-long underground metro line from Kungsträdgården to Nacka and Gullmarsplan in Stockholm, which is expected to open in 2025. The contract is valued at approximately SEK 500-600 million, an estimated two-thirds of which amount will go to Sweco. This is one of the largest and most complex assignments in Sweco’s history. The initiative is a key component in the entire region’s development and will be a significant improvement to public transport.
For more information, please contact:
Tomas Carlsson, President and CEO, phone: +46 8 695 66 60 / +46 70 552 92 75 , firstname.lastname@example.org
Jonas Dahlberg, CFO, phone: +46 8 695 63 32 / +46 70 347 23 83 , email@example.com
Åsa Barsness, Communications Director, +46 8 695 66 40 / 46 70 382 36 86, firstname.lastname@example.org
Sweco is the Nordic region’s leading consultancy for sustainable urban development. Our 9,000 engineers, architects and environmental experts develop value-creating solutions for our clients and for society. Sweco is among the ten largest consulting engineering companies in Europe and annually conducts projects in 80 countries throughout the world. The company has yearly sales of approximately SEK 9 billion and 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 2014 at 07:20 CET.