Sweco (NASDAQ: SWEC-B) reports its strongest third quarter results to date, with a double-digit margin in a seasonally challenging quarter. Net sales increased 7 per cent to SEK 7.6 billion and organic growth amounted to 2 per cent adjusted for calendar effects. EBITA increased to SEK 786 million, an increase of 10 per cent adjusted for calendar effects. The EBITA margin improved to 10.3 per cent. Overall market demand was consistent with previous quarters. Sweco's continued focus on AI development and an active M&A agenda progressed according to plan.
July-September 2026
- Net sales increased to SEK 7,606 million (7,138)
- EBITA increased to SEK 786 million (702), margin 10.3 per cent (9.8)
- EBITA increased 10 per cent year-on-year after adjustment for the positive calendar effect in the quarter
- EBIT increased to SEK 752 million (643), margin 9.9 per cent (9.0)
- Profit for the period increased to SEK 521 million (424)
- Earnings per share increased to SEK 1.44 (1.18) and diluted earnings per share increased to SEK 1.44 (1.17)
January-September 2026
- Net sales increased to SEK 24,508 million (23,038)
- EBITA increased to SEK 2,519 million (2,352), margin 10.3 per cent (10.2)
- EBITA increased 7 per cent year-on-year after adjustment for the minor negative calendar effect
- EBIT increased to SEK 2,433 million (2,254), margin 9.9 per cent (9.8)
- Net debt/EBITDA decreased to 0.8x (0.9)
- Net debt increased to SEK 3,160 million (3,124)
- Profit for the period increased to SEK 1,713 million (1,563)
- Earnings per share increased to SEK 4.74 (4.34) and diluted earnings per share increased to SEK 4.73 (4.32)
Comments from President and CEO Åsa Bergman:
"Strongest third quarter to date
Sweco delivered its strongest third quarter results to date and a double-digit margin in a seasonally challenging quarter. Net sales increased 7 per cent and EBITA 10 per cent, adjusted for calendar effects. The improvement was mainly driven by a strong billing ratio and higher average fees.
Market conditions remained broadly unchanged from previous quarters. Demand remained solid in the energy, water, environment and transport infrastructure segments. The public and commercial buildings segments improved, driven by investments in hospitals, security and defence, and data centres, while residential remained weak.
AI is a key component in Sweco's value creation for clients. Our AI strategy is built on three pillars: improve individual productivity; automate core processes; and accelerate digital innovation. AI adoption is high across Sweco, and we are now focused on automating processes and producing innovative solutions that introduce new value propositions for our clients. Sweco is in the forefront in our industry and is well positioned to benefit from this development, supported by our proximity to clients, our decentralised operating model, our scale and our multidisciplinary approach.
Financial performance
Net sales increased to SEK 7,606 million (7,138), corresponding to organic growth of 2 per cent after adjustment for calendar effects. EBITA increased to SEK 786 million (702), and the EBITA margin improved to 10.3 per cent (9.8). EBITA increased 10 per cent, or SEK 72 million, adjusted for calendar effects.
EBITA improved in the quarter, with Sweden, Norway and Finland as the main contributors. Sweco Belgium delivered strong margins in the quarter, while Sweco Netherlands, UK and Germany & Central Europe continued to improve profits. In Denmark, while maintaining a strong margin, EBITA and net sales were lower, reflecting reduced activity in the Danish pharmaceutical sector.
Acquisitions and new projects
During the quarter, we completed the acquisition of four businesses: STEIN Ingenieure, a water specialist in Germany; Sitowise Sverige AB, a technology advisor in buildings and infrastructure in Sweden; All Soil Assistance, an environmental specialist, and Technocon, an engineering consultancy, both in Belgium. In early October, we also completed the acquisition of Stendess in Belgium. In total, we have closed nine acquisitions so far this year across four business areas, which reflects our ambition to maintain an active M&A agenda across the Group for both niche and larger acquisitions.
We continued to strengthen Sweco's position as a partner in the transition to a more sustainable and resilient society. In Denmark, we were appointed sole consultant to Aalborg Forsyning, supporting the development of a diversified energy system that includes electricity-based heating and surplus heat. In Belgium, we entered into a major framework agreement with the national railway company NMBS/SNCB to supervise and quality-assure infrastructure works at stations across the country. In Sweden, Sweco was awarded a SEK 500 million framework agreement for high-security facilities for the state-owned property company Specialfastigheter. The agreement includes feasibility studies, design and construction management for properties with stringent security and functionality requirements.
Priorities going forward
Our performance in the third quarter demonstrates continued progress on our strategic priorities. We maintained high internal efficiency, a strong commercial focus and a solid order backlog, whilst pursuing an active M&A agenda across the business areas. Looking ahead, we will retain these priorities while placing greater emphasis on employee growth to support solid organic growth and further progress towards our EBITA margin target. Our strong market position and continued investments in AI will enable us to enhance our integrated offering and create greater value for our clients."
Information meeting
A web cast and telephone conference will be held today following the release of the results, starting at 09.00 CET. Åsa Bergman, President and CEO, and Jan Allde, CFO will comment on the report.
- Webcast registration: Click here
- Conference call registration: Click here
Slides used in the presentation and the report will be available at the Group's web site.
Press photo
- Sweco's President and CEO Åsa Bergman, free use, please credit: Mans Berg
This disclosure contains information that SWECO is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-10-2026 07:20 CET.
For additional information, please contact:
Anna E Olsson, Head of Press, Sweco Group, +4670 557 33 26, anna.e.olsson@sweco.se
Sweco plans and designs tomorrow's sustainable communities and cities. With the collective knowledge of our 23,000 architects, engineers and other experts we work together with our clients to facilitate the green transition, maximise the potential of digitalisation and to strengthen Europe's competitiveness and resilience. Sweco is Europe's leading architecture and engineering consultancy, with sales of approximately SEK 32 billion (EUR 2.9 billion) in 2025. The company is listed on Nasdaq Stockholm. www.swecogroup.com
