STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Cautious start to the year – Vectura contributes to strong growth
JANUARY – MARCH 2014
· Net sales: SEK 2,321.7 million (1,917.6)
· Operating profit: SEK 211.6 million (134.0); operating margin: 9.1 per cent (7.0)
· EBITA: SEK 225.4 million (144.1); EBITA margin: 9.7 per cent (7.5)
· Integration costs for Vectura: SEK 8.5 million · Profit after tax: 143.9 million (102.2); earnings per share: SEK 1.57 SEK (1.11)
· Net debt: SEK 1,218.6 million (378.7)
Comments from President and CEO Tomas Carlsson:
– Sales were up 21 per cent to SEK 2,321.7 million (1,917.6), due primarily to the acquisition of Vectura. Operating profit totalled SEK 211.6 million (134.0). The profit improvement was driven primarily by more available work hours, the contribution from Vectura and greater order volumes in Finland.
– Vectura and Sweco Sweden now work fully integrated in a new joint organisation under the Sweco brand. Synergies and integration costs are developing according to plan.
– The market in general is characterised by a cautious start to the year. The markets in Sweden and Finland are unchanged, while the market in Norway is weakening. The market in Central Europe remains weak.
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 7 May 2014 at 07:20 CET.
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