SWECO AB (publ) Interim report January – September 2011
Continued profitable growth
July – September 2011
- Net sales of SEK 1,274.1 million (1,088.9).
- Operating profit of SEK 75.1 million (69.6).
- Operating margin of 5.9 per cent (6.4).
- Profit after tax of SEK 56.2 million (45.0) and earnings
per share of SEK 0.62 (0.49).
January – September 2011
- Net sales of SEK 4,201.5 million (3,793.4).
- Operating profit of SEK 339.7 million (304.2).
- Operating margin of 8.1 per cent (8.0).
- Profit after tax of SEK 245.8 million (214.1) and earnings
per share of SEK 2.70 (2.37).
- Strong financial position, net liability of SEK 11.8 million
(net receivable of SEK 36.3 million).
Comments from CEO Mats Wäppling:
“Operating profit for the period from January to September 2011 rose to SEK 340 million and operating margin was 8.1 per cent. During the same period, Sweco Sweden achieved an operating margin of 10.7 per cent.
“The overall market situation is good, with favourable opportunities for growth. Third quarter growth reached 17 per cent, of which 11 per cent was organic. The Swedish operations grew by 20 per cent during the quarter. At the same time, the outlook for the general economy has worsened and there is far-reaching uncertainty about market development.
“Sweco has been awarded several notable contracts, such as a number of energy assignments in Africa to develop the supply of electricity in Tanzania and Kenya with a combined order value of around SEK 80 million. We are also involved in Stora Enso’s investment in a new paper machine in the company’s Polish factory Ostrołęka Mills. The contract is worth approximately SEK 50 million. In Sweden we have been chosen for extensive engineering design work in connection with the expansion of Boliden’s iron ore production in Garpenberg.
“Sweco’s healthy finances, wide service offering and leading market positions in several important growth segments give us a solid platform for favourable long-term development.”