Sweco Reports A Profit of SEK 630 Million for the First Quarter
Technology consultant Sweco reports an ebit profit of SEK 630 million for the first quarter of 2020. This is higher than both last year’s figures and analysts’ forecasts.
The analysts in Infront’s compilation of six analysts’ estimates had expected Sweco to deliver an operating profit of 598 million. The Ebita margin thus increased to 11.5 percent against the expected 10.5 percent.
Sales amounted to SEK 5,680 million, which marked the analysts’ average forecast. It was also higher than last year’s figure of SEK 5,101 million, of which organic growth accounted for 4 percent.
The debit rate was 73.6 percent in the quarter, compared with 74.1 percent in the corresponding period last year.
A strong start to the year for Sweco, but corona effects can weigh on the rest of the year.
“We have seen a number of stopped and delayed projects, which will have a negative impact on our revenues in the future,” writes CEO Åsa Bergman in the report for the first quarter of 2020.