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SWECO AB (publ) Interim report January-June 2013

July 18, 2013 | Interim report

APRIL – JUNE 2013

  • Net sales of SEK 2,010.5 million (1,943.1).
  • Operating profit of SEK 190.9 million (150.2).
  • Operating margin of 9.5 per cent (7.7).
  • Profit after tax of SEK 136.2 million (122.0) and earnings per share of SEK 1.48 (1.32).
  • Sweco signs an agreement to acquire Vectura and creates the Nordic region’s leading consulting engineering company.

JANUARY – JUNE 2013

  • Net sales of SEK 3,942.1 million (3,852.7).
  • Operating profit of SEK 326.2 million (382.2).
  • Operating margin of 8.3 per cent (9.9).
  • Profit after tax of SEK 238.4 million (287.0) and earnings per share of SEK 2.59 (3.12).
  • Net debt of SEK 646.1 million (509.0).

Comments from CEO Tomas Carlsson:

    Sweco has signed an agreement to acquire Vectura with 1,200 employees. This will make us the Nordic region’s leading consulting engineering company, with annual sales of approximately SEK 8,800 million and around 9,000 employees. By combining Vectura’s far-reaching expertise in transport infrastructure with Sweco’s forefront position in sustainable engineering and design, we will create excellent potential for continued growth in the Nordic region.

    Operating profit for the second quarter rose to SEK 191 million and the best performing business area was Sweco Norway, with an operating margin of 12.7 per cent. Earnings were positively affected by calendar effects of approximately SEK 60 million. At the same time, earnings were undermined by weak market development in Finland, which had an impact of around SEK 32 million.

    Demand for the majority of our services is relatively stable, but the market is being impacted by generally weak growth in the Nordic region and Europe. Improved demand was noted in Sweden towards the end of the period and the market in Norway remained strong. The market for industrial services in Finland worsened further and measures are being taken to adapt operations to the current conditions.

    Our strategy stands firm. As the Nordic region’s leading consulting engineering company, with the industry’s strongest offering of services for sustainable engineering and design, we will continue to grow with profitability, both organically and through further acquisitions.

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