Stable earnings trend - gradual recovery of the market
APRIL – JUNE 2014
· Net sales: SEK 2,337.3 million (2,001.7)
· Operating profit: SEK 155.6 million (190.6); operating margin: 6.7 per cent
· EBITA: SEK 167.8 million (200.5); EBITA margin: 7.2 per cent (10.0)
· Integration costs for Vectura: SEK 2.8 million
· Profit after tax: 108.6 million (136.2); earnings per share: SEK 1.19 SEK
JANUARY – JUNE 2014
· Net sales: SEK 4,659.0 million (3,919.3)
· Operating profit: SEK 367.2 million (324.6); operating margin: 7.9 per cent
· EBITA: SEK 393.2 million (344.6); EBITA margin: 8.4 per cent (8.8)
· Integration costs for Vectura: SEK 11.3 million
· Profit after tax: 252.5 million (238.4); earnings per share: SEK 2.76 SEK
· Net debt: SEK 1,522.8 million (647.9)
Comments from President and CEO Tomas Carlsson:
- Sales increased 17 per cent during the second quarter, due primarily to the
acquisition of Vectura. Operating profit was down due to the fewer number of
available working hours. Vectura and improved utilisation in Finland contributed
positively to profit. In view of the negative calendar effects, the earnings
trend is stable.
- During the second quarter, the market in general is characterised by cautious
optimism and recovery compared to the weak start to the year. Recovery is slow,
however, and the road to a robust growth in demand has pitfalls in terms of the
general economic development. During the quarter the Swedish market is somewhat
improved, while the Norwegian market is stable. The markets in Finland and
Central Europe remain challenging.
- It has now been one year since Vectura was acquired, and it is time to
summarize the transaction. Vectura is already exceeding our financial
expectations, and Sweco is the Nordic leader in infrastructure. We are thus
uniquely positioned to benefit from future investments in roads and railways.
The integration is completed and we now focus on continued profitable growth.
Tomas Carlsson, President and CEO, phone: +46 8 695 66 60 / +46 70 552 92 75,
Jonas Dahlberg, CFO, phone: +46 8 695 63 32 / +46 70 347 23 83,
Åsa Barsness, Communications Director, +46 8 695 66 40 / 46 70 382 36 86,
Sweco is the Nordic region’s leading consultancy for sustainable urban
development. Our 9,000 engineers, architects and environmental experts develop
value-creating solutions for our clients and for society. Sweco is among the ten
largest consulting engineering companies in Europe and annually conducts
projects in 80 countries throughout the world. The company has yearly sales of
approximately SEK 9 billion and is listed on Nasdaq OMX Stockholm AB.
Sweco is required to disclose the above information under the provisions of the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication on 18 July 2014 at 07:20 CET.
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