Sweco (SWEC) Q3 2026 earnings summary

Executive summary

• Strongest Q3 to date: sales rose 7%, while calendar-adjusted EBITA increased 10%; margin reached 10.3% versus 9.8% a year earlier.

• Higher average fees and billing ratio supported results; organic FTE growth remained negative.

Financial highlights

• Net sales rose to SEK 7,606m from SEK 7,138m; calendar-adjusted organic growth was 2%, acquired growth 3%, and currency effects 1%.

• EBITA was SEK 786m, up SEK 72m and 10% calendar-adjusted; reported EBITA margin was 10.3% versus 9.8%.

• EBIT was SEK 752m (SEK 643m), profit for the period SEK 521m (SEK 424m), and EPS SEK 1.44 (SEK 1.18).

• Billing ratio improved to 75.1% from 74.0%; one additional working hour contributed SEK 13m YoY.

Outlook and guidance

• Priorities include recruitment and employee growth to support organic growth, alongside internal efficiency, margin improvement, commercial focus and active M&A.

• AI adoption is shifting toward end-to-end workflow redesign, process automation and digital solutions for client projects.

• Management expects seasonally strong Q4 cash flow and some Sitowise Sweden integration costs, significantly below Projektengagemang integration costs.