Q3 2024 Sweco AB (publ) Earnings Call Transcript
Key Points
- Sweco AB (LTS:0H0G) reported a 6% increase in net sales, with 4% attributed to organic growth.
- The company achieved an EBITA margin increase to 8.7%, driven by higher average fees and improved billing ratios.
- Sweco AB received validation and approval of its near-term climate targets by the Science Based Targets initiative, aligning with the EU and Paris Agreement goals.
- The company continues to see strong demand in the energy transition and green transition sectors, particularly in water, energy, and industry segments.
- Sweco AB's financial position remains strong, with a significant reduction in net debt and leverage down to 1.1%.
- Norway and the Netherlands reported weaker quarters, with Norway affected by one-off costs related to new headquarters.
- Finland and the UK experienced negative growth, despite restructuring efforts in these markets.
- The demand for residential and commercial real estate remains weak, with variations across markets and subsegments.
- Higher personnel expenses negatively impacted EBITA, despite improvements in billing ratios.
- The calendar effect did not fully materialize due to vacation periods, affecting the overall financial performance.
(Video Playing)
Good morning to you all and welcome to this presentation of Vehicles Q3 Report. It will as usual be presented by Sweco President and CEO Asa Bergman and CFO Olof Stalnacke.
After their presentation, we will of course, welcome all your questions. So with that, please.
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Welcome everyone to Sweco Q3 presentation.
Before we present the third quarter of 2024. Let me give you a quick overview of Sweco is Europe's leading architecture and engineering consultancy with operations in eight geographical business areas across 15 markets in Europe. We are a well diversified business operating across three segments with a good balance of private and public clients.
The Foundation for Sweco's long term success is our mix of competences spread across 22,000 experts. Our focus on organic and acquired growth as well as our efficient and decentralized operational model with a strong financial track record and
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