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SWECO AB (publ) Interim report January-March 2014

May 7, 2014 | Interim report

Cautious start to the year – Vectura contributes to strong growth

JANUARY – MARCH 2014

  • Net sales: SEK 2,321.7 million (1,917.6)
  • Operating profit: SEK 211.6 million (134.0); operating margin: 9.1 per cent (7.0)
  • EBITA: SEK 225.4 million (144.1); EBITA margin: 9.7 per cent (7.5)
  • Integration costs for Vectura: SEK 8.5 million
  • Profit after tax: 143.9 million (102.2); earnings per share: SEK 1.57 SEK (1.11)
  • Net debt: SEK 1,218.6 million (378.7)

Comments from President and CEO Tomas Carlsson:

Sales were up 21 per cent to SEK 2,321.7 million (1,917.6), due primarily to the acquisition of Vectura. Operating profit totalled SEK 211.6 million (134.0). The profit improvement was driven primarily by more available work hours, the contribution from Vectura and greater order volumes in Finland.

Vectura and Sweco Sweden now work fully integrated in a new joint organisation under the Sweco brand. Synergies and integration costs are developing according to plan.

The market in general is characterised by a cautious start to the year. The markets in Sweden and Finland are unchanged, while the market in Norway is weakening. The market in Central Europe remains weak.

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