Interim report January – June 2017 Sweco AB (PUBL)
Solid operational performance in a good market
April – June 2017
- Net sales decreased to SEK 4,262 million (4,370)
- EBITA decreased to SEK 312 million (462), margin 7.3 per cent (10.6)
- EBIT decreased to SEK 299 million (438), margin 7.0 per cent (10.0)
- Profit after tax decreased to SEK 225 million (342), corresponding to SEK 1.88 per share (2.85)
January – June 2017
- Net sales increased to SEK 8,670 million (8,387)
- EBITA increased to SEK 807 million (690), margin 9.3 per cent (8.2)
- EBIT increased to SEK 776 million (643), margin 8.9 per cent (7.7)
- Profit after tax increased to SEK 585 million (489), corresponding to SEK 4.89 per share (4.09)
- Net debt decreased to SEK 2,064 million (2,534)
- Net debt/EBITDA decreased to 1.2 times (2.0)
Comments from President and CEO Tomas Carlsson:
Sweco delivered a solid operational performance during the second quarter. Increased hourly fees and lower project adjustments contributed positively to the development. Adjusted for calendar effects and last year’s extraordinary items, EBITA increased approximately SEK 23 million. However, the reported numbers show a negative development as the quarter had less working hours than last year.
Sweco was awarded several important projects during the quarter to plan and design the cities and communities of the future, including designing the encapsulation plant for Sweden’s spent nuclear fuel, planning three new city districts in Amsterdam and advising on the construction of a power plant that will double power generation in Rwanda.
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.
Overall, the market for Sweco’s services is good. The Swedish market remains strong. The markets in Norway, Denmark, Western Europe and Central Europe are generally good. The markets in the Netherlands and Finland are improving.