SWECO AB (publ) Interim report January-September 2006
10/24/2006 2:30 AM EST
Strong third quarter for SWECO
• Operating profit for the nine-month period improved by 32 per cent to SEK 236.1 (179.0) million. For the third quarter, operating profit rose by 40 per cent to SEK 50.5 (36.2) million.
• Operating margin was 8.6 (7.4) per cent.
• Net sales increased by 13 per cent to SEK 2,733 (2,416) million.
• Profit before tax totalled SEK 239.2 (231.5) million.
• Profit after tax was SEK 167.2 (175.9) million, equal to earnings per share of SEK 9.57 (10.18). Net financial items for the previous year contained a one-time item of SEK 52.4 million, equal to SEK 3.10 per share.
• Mats Wäppling has been appointed as the new Managing Director and CEO of SWECO with effect from 1 January 2007.
Comments from the CEO, Wigon Thuresson:
– SWECO is continuing to grow with strong profitability and delivered its best third quarter ever. Operating profit for the period January-September increased by 32 per cent year-on-year and reached a new all-time high of SEK 236 million.
– We are advancing briskly in the expansive energy sector and now have more than 500 energy consultants following our acquisitions in the third quarter.
– SWECO’s growth has been especially powerful in Eastern Europe, where our workforce has tripled to nearly 300 people.
– Our financial position is strong and the outlook for the remainder of 2006 remains bright.