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SWECO AB (publ) Year-end report 2014

February 12, 2015 | Interim report

Strong earnings and major infrastructure projects

OCTOBER – DECEMBER 2014

  • Net sales: SEK 2,554.6 million (2,436.0)
  • Operating profit: SEK 251.2 million (127.7); operating margin: 9.8 per cent (5.2)
  • EBITA: SEK 266.5 million (190.0); EBITA margin: 10.4 per cent (7.8)
  • Profit after tax: SEK 199.8 million (70.4); earnings per share SEK 2.18 (0.76)

JANUARY – DECEMBER 2014

  • Net sales: SEK 9,213.7 million (8,165.0)
  • Operating profit: SEK 761.6 million (558.3); operating margin: 8.3 per cent (6.8)
  • EBITA: SEK 814.5 million (652.4); EBITA margin: 8.8 per cent (8.0)
  • Profit after tax: SEK 544.6 million (379.6); earnings per share: SEK 5.96 (4.11)
  • Net debt: SEK 1,262.0 million (1,323.6); net debt/EBITDA: 1.3 times (1.7)
  • Board of Directors’ proposed dividend: SEK 3.50/share (3.25)

Comments from President and CEO Tomas Carlsson:

– Operating profits for the fourth quarter and full-year 2014 are the highest in Sweco’s history. The quarter’s strong results are mainly due to the successful integration of Vectura, which added 1,200 new employees, and the positive trend for Sweco’s operations in Central Europe.

– We strengthened our market-leading position in infrastructure during the quarter. We have been entrusted with contributing our expertise to some of the largest infrastructure initiatives right now in the Nordic region. For example, Sweco will design two of the three first sections of Sweden’s first high-speed railway, modernise the Östfold Line in Norway, supervise for the extension of Helsinki’s underground metro, and design Stockholm’s new underground metro to Nacka. The total order value of these projects is nearly SEK 900 million.

– Overall, the market remains stable. The Swedish market is improving slowly but steadily. The Norwegian market is somewhat weakened but is being aided by government investments. The Finnish market remains challenging, while Central Europe is seeing some improvement.

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