SWECO AB (publ) Interim report January-September 2012
Sweco continues to grow with solid profitability
July – September 2012
- Net sales of SEK 1,557.3 million (1,274.1).
- Operating profit of SEK 95.9 million (75.1).
- Operating margin of 6.2 per cent (5.9).
- Profit after tax of SEK 59.5 million (56.2) and earnings per share of SEK 0.64 (0.62).
January – September 2012
- Net sales of SEK 5,410.0 million (4,201.5).
- Operating profit of SEK 476.8 million (339.7).
- Operating margin of 8.8 per cent (8.1).
- Profit after tax of SEK 345.5 million (245.8) and earnings per share of SEK 3.74 (2.70).
- Net debt of SEK 635.5 million (11.8).
Comments from CEO Mats Wäppling:
“Operating profit for the nine-month period was SEK 477 million, up by approximately SEK 137 million over the same period of last year. Operating margin improved to 8.8 per cent. The best business area was Sweco Finland, with an operating margin of 12.4 per cent”.
“Earnings for the third quarter were satisfactory. Operating profit reached SEK 96 million, an increase of 28 per cent.”
“Growth remains strong. Since year-end net sales has grown 29 per cent, of which 11 per cent is organic. In the third quarter we grew by 22 per cent, of which 6 per cent organically, compared to the same period of last year. The rise in sales is mainly attributable to organic growth in Sweden and Norway and the acquisition of FMC Group in Finland.”
“We still experience healthy demand for our services despite worsening of the general economic outlook. It is now becoming increasingly clear that we are headed for a slowdown in some segments.”
“With a profitability at the absolute top of the industry, we have excellent potential to continue growing both organically and through acquisitions. Our wide service offering and leading market position provide a solid platform for favourable long-term development.”