Sweden's Sweco Q4 revenue up 6% on higher average fees, improved billing ratio

Sweco AB (publ)

11/02/2026 06:30

Overview

European architecture and engineering firm's Q4 revenue grew 6% yr/yr, missing analysts' expectations

EBITA for Q4 increased 7%, slightly beating estimates

Company completed 13 acquisitions in 2025, adding SEK 2.1 bln in annual net sales

Outlook

Sweco sees substantial business opportunities as Europe invests in competitiveness and resilience

Company plans to pursue active M&A agenda while developing operational excellence

Sweco expects positive synergies from Projektengagemang integration during 2026

Result Drivers

HIGHER FEES AND BILLING - Co attributed Q4 results to higher average fees, FTE growth, and increased billing ratio

OPERATIONAL IMPROVEMENTS - Sweco Germany & Central Europe and Belgium were main contributors to EBITA improvement due to operational enhancements

INTEGRATION COSTS - Sweco Sweden's Q4 results impacted by SEK 35 mln in costs related to integration activities, with expected synergies in 2026

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
SEK 8.50 bln
SEK 8.60 bln (4 Analysts)
Q4 EPS
SEK 1.84
Q4 Net Income
SEK 662 mln
Q4 EBITA
Beat*
SEK 979 mln
SEK 972.25 mln (2 Analysts)
Q4 Adjusted EBITA
SEK 979 mln
Q4 EBIT
SEK 948 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Sweco AB (publ) is SEK185.00, about 26.7% above its February 10 closing price of SEK146.00

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release: ID:nWkrGvDXR

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)