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Investing.com -- Swedish engineering consultancy firm Sweco AB on Wednesday reported second-quarter results slightly below expectations, with net sales of SEK7,834 million, down 3% year-over-year and 3% below consensus estimates.
EBITA came in at SEK750 million, 2% below consensus, with a margin of 9.6% compared to 9.8% in the same period last year.
The company noted that results were significantly impacted by calendar effects, with 11 fewer working hours in the quarter.
When adjusted for these calendar effects, Sweco achieved 2% organic growth, and EBITA increased by 15% year-over-year.
Performance varied across regions, with six of eight business areas delivering improved EBITA when adjusted for calendar effects.
The UK and Germany & Central Europe showed notable strength, while Finland and Belgium reported lower earnings.
By business area, Sweden posted sales of SEK2,390 million (flat year-over-year) with an EBITA margin of 11.1%, up from 10.8% last year. Norway saw a 7% sales decline to SEK885 million, with its margin dropping to 6.8% from 11.5%.
The UK showed significant improvement with an EBITA margin of 6.0%, up from just 0.3% in the second quarter of 2024.
Germany & Central Europe also performed well, with an 8.8% margin compared to 6.4% a year earlier.
Sweco reported mixed demand across end-markets. Energy, infrastructure, water and environment, and security & defense segments remained robust, while parts of the buildings and industry sectors, particularly residential and commercial real estate, continued to lag.
Despite these challenges, the company improved its billing ratio to 75.2% from 74.8% in the same period last year, reflecting enhanced internal efficiency.
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