Sweco hits bottom of STOXX after Q4 EBITA miss

Sweco AB (publ)

09/02/2024 08:31

** Shares in Sweco  SWECb.ST  drop 11%, to the bottom of the
STOXX 600 index  .STOXX , after the Swedish engineering and
architecture consultancy company posted a Q4 EBITA below
expectations
    ** EBITA fell 8% to SEK 654 million ($62.42 million), 16%
below analysts' estimate of 775.7 million seen in an LSEG poll
    ** Q4 revenues also came in slightly weaker than expected,
at SEK 7.72 billion vs LSEG estimate of 7.74 billion
    ** Chief executive Åsa Bergman mainly attributed the drop in
EBITA to the company's UK business 
    ** Shares track their worst day in over 15 months
($1 = 10.4769 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))