Sweco jumps to top of STOXX on Q1 EBITA beat

Sweco AB (publ)

16/05/2024 08:25

** Shares of Sweco  SWECb.ST  rise about 13% after the
Swedish engineering and architecture consultancy company's Q1
core earnings beat expectations
    ** Q1 EBITA came in at SEK 793 million ($74.27 million), 6%
above consensus according Kepler Cheuvreux' note posted on
Swedbank Aktiellt
    ** The improved results were driven by positive momentum in
pricing, and strong demand within green transition in energy,
transportation, industry and urban development, Sweco said in a
statement
    ** Kepler notes Sweco's strong operational improvements
since Q4, and says restructuring measures taken in the UK and
Finland have also produced positive results
    ** The Sweco stock sits at the top of the pan-European STOXX
600 index  .STOXX  and, if gains hold, will see its best day
since February 2023


($1 = 10.6774 Swedish crowns)

 (Reporting by Elsa Ohlen)
 ((elsa.ohlen@thomsonreuters.com;))