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Sweco (SWEC) investor relations material
Sweco Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Net sales for Q3 2025 rose 5% year-over-year to SEK 7,138 million, with organic growth of 4% and acquired growth of 3%. 
- EBITA/EBITDA increased 19% to SEK 702 million, with a margin of 9.8%, driven by higher average fees, improved billing ratio, and realized M&A synergies. 
- Seven out of eight business areas reported positive organic growth and EBITA/EBITDA improvements, led by Germany and Central Europe. 
- Five acquisitions were completed in Q3, with three more added in October, and the Czech operations were divested. 
- Profit for the period reached SEK 424 million in Q3, with EPS at SEK 1.18. 
Financial highlights
- Net sales: SEK 7,138 million (up from SEK 6,779 million year-over-year). 
- EBITA: SEK 702 million (up from SEK 588 million), a 19% increase. 
- Net debt/EBITDA improved to 0.9x from 1.1x year-over-year; net debt decreased to SEK 3,124 million. 
- Billing ratio increased to 74.0% in Q3. 
- Cash flow from operating activities for the nine months was SEK 1,353 million, impacted by M&A outflows and dividend payments. 
Outlook and guidance
- Focus remains on improving efficiency, margins, and capturing growth opportunities in a mixed market. 
- Integration of recent acquisitions, especially Projektengagemang, is expected to yield synergies starting in 2026. 
- Market uncertainty remains high due to geopolitical instability and a weak general economy, but demand is strong in energy, infrastructure, water, environment, and security/defense sectors. 
Next Sweco earnings date

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