0 of 0 for ""

SWECO AB (publ) Interim report January – March 2010

April 29, 2010 | Interim report

• Net sales of SEK 1,339.0 million (1,451.9).
• Operating profit of SEK 122.4 million (166.2).
• Operating margin of 9.1 per cent (11.4).
• Profit before tax of SEK 119.4 million (173.8).
• Strong financial position with a net receivable of SEK 318.2 million (199.9).
• Cash flow from operating activities of SEK -68.4 million (62.2).
• Profit after tax of SEK 86.6 million (128.2) and earnings per share of SEK 0.97 (1.47).

Comments from CEO Mats Wäppling:

“As a result of weak market conditions, Sweco got off to a slow start in the first quarter of 2010. Sales and earnings were impacted by continued low demand for certain industrial and building-related services and additional resource adaptations were carried out in the Finnish industrial operations.

“Sweco Sweden and Sweco Norway achieved operating margins of around 11 per cent. Our Russian operations also showed sustained positive development, while the other units in Central and Eastern Europe have stabilised.

“Toward the end of the period we noted a somewhat improved market situation with increased activity. Among other things, Sweco has been chosen to take part in planning of the new Slussen public transport hub in Stockholm and in Lithuania we have been awarded yet another major contract in connection with the closure of the Ignalina nuclear power plant. We have also been commissioned to study how the power grids in Uganda and Tanzania can be interconnected to reduce the shortage of electricity in the region.

“Sweco’s strong financial position and leading market positions in environment, energy and infrastructure provide an excellent platform for continued profitable growth and high preparedness to seize new opportunities in 2010. This includes expansion through acquisitions in both existing and new markets in Europe.”

Attached information

Anna Elisabeth Olsson

Head of Press and Public Affairs