July-September 2025

• Net sales increased to SEK 7,138 million (6,779)
• EBITA increased to SEK 702 million (588), margin 9.8 per cent (8.7)
• EBITA increased 19 per cent year-on-year 
• EBIT increased to SEK 643 million (569), margin 9.0 per cent (8.4)
• Profit for the period increased to SEK 424 million (376)
• Earnings per share increased to SEK 1.18 (1.05) and diluted earnings per share increased to SEK 1.17 (1.04)

January-September 2025

• Net sales increased to SEK 23,038 million (22,576)
• EBITA increased to SEK 2,352 million (2,175), margin 10.2 per cent (9.6)
• EBITA increased 14 per cent year-on-year after adjustment for the negative calendar effect
• EBIT increased to SEK 2,254 million (2,130), margin 9.8 per cent (9.4) 
• Net debt/EBITDA decreased to 0.9x (1.1)
• Net debt decreased to SEK 3,124 million (3,533)
• Profit for the period increased to SEK 1,563 million (1,475)
• Earnings per share increased to SEK 4.34 (4.10) and diluted earnings per share increased to SEK 4.32 (4.09)

Comments from President and CEO Åsa Bergman:

"A strong result in a mixed market

Sweco delivered robust EBITA improvement for the third quarter, driven by continued pricing increases and further efficiency gains. Overall, net sales increased 5 per cent, EBITA rose 19 per cent and the EBITA margin increased to 9.8 per cent. 

We continue to navigate effectively in a mixed market, improving both our order intake and our order backlog. Demand remained good in the energy, infrastructure, water and environment sectors, with continued increases in demand in security and defence. Certain areas of the buildings and real estate sectors remained weak, while demand was healthier within public buildings.

Financial performance

Net sales increased to SEK 7,138 million (6,779), with organic growth of 4 per cent and acquired growth of 3 per cent. EBITA increased to SEK 702 million (588), corresponding to an EBITA margin of 9.8 per cent (8.7). The EBITA improvement was mainly driven by higher average fees, an improved billing ratio and FTE growth. 

EBITA improved in seven out of eight business areas. Sweco Germany & Central Europe was the largest contributor in the quarter, benefiting from efficiency improvements and positive project adjustments. Sweco Denmark and Belgium continued to capitalise on their strong positions in attractive segments and delivered well above Sweco's financial target.

Sweco Norway improved its result compared with a weak quarter last year and Finland continued to deliver solid results in a challenging market. Sweco UK made further progress on its improvement journey and, supported by acquisitions, the Netherlands increased EBITA. Sweden's result was impacted by transaction and integration costs related to the acquisition of Projektengagemang, which was finalised and consolidated into Sweco in mid-July.

New projects and acquisitions 

We continue to build a strong M&A pipeline which resulted in the announcement of five acquisitions during the quarter and three new acquisitions after the quarter: Fimpec Group, assar architects and VHGM. Fimpec Group is a Finnish consultancy that employs around 400 experts, with specialist capabilities in renewable energy, hydrogen, the bio- and circular economy, forest industry, batteries and critical minerals. The transaction is subject to approval by the local authorities. 

The Belgian consultancy assar architects is a leading expert in large-scale public and private sector projects, including offices and commercial buildings, healthcare, defence, education and urban planning. The acquisition will add 150 experts and significantly broaden Sweco's architecture offering in Belgium and Luxembourg. VHGM is a Dutch company with 22 experts specialised in geothermal energy consulting. 

Projects won during the quarter showcase Sweco's role in future-proofing European societies and industries. In Norway, we entered a framework agreement with the public transport operator Sporveien to support sustainable transportation in the Oslo and Akershus area. In Sweden, Svenska Kraftnät has commissioned Sweco to renew power lines in the Jämtland region to enhance grid resilience and enable future wind power development.

In the Netherlands, Sweco will support the Dutch roads and water management agency, Rijkswaterstaat, in modernising the country's primary infrastructure to enhance safety, resilience and mobility with the aim of addressing climate challenges such as rising sea levels and flooding. In Finland, Sweco will be responsible for the overall design of the Finnish food company Fazer's future chocolate factory in Lahti - a factory designed to operate without direct carbon dioxide emissions.

Priorities going forward

The third quarter demonstrates the strength of Sweco's diversified business and our commitment to delivering on our strategic priorities. We will remain focused on capturing growth opportunities, further improving efficiency and margins, pursuing attractive M&A opportunities and continue positioning Sweco in the planning and designing of a more competitive and resilient Europe." 

Press photo:
Åsa Bergman, President and CEO, Sweco. Free use, please credit: Tobias Regell

 

Information meeting:
A web cast and telephone conference will be held following the release of the results, starting at 09.00 CET on 29 October. Åsa Bergman, President and CEO, and Jan Allde, CFO will comment on the report.

• Webcast registration: Click here
• Conference call registration: Click here

 Slides used in the presentation and the report will be available at the Group's web site.