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Sweco AB's Q4 and Year-End Report 2025

On February 11, 2026, Sweco AB (NASDAQ: SWEC-B) released its fourth quarter and year-end report for 2025, showcasing a successful completion of the year. This positive conclusion reinforces Sweco's position as Europe's leading architecture and engineering consultancy. In the fourth quarter alone, Sweco reported net sales of SEK 8.5 billion, marking a 6% increase, while EBITA rose by 7% to SEK 979 million, adjusted for calendar effects. These figures translated to an EBITA margin of 11.5%.

Over the course of the year, Sweco maintained organic growth, improved its margins, and actively pursued mergers and acquisitions, completing a total of 13 acquisitions. The Board of Directors has proposed a dividend of SEK 3.70 per share.

Fourth Quarter Highlights

Between October and December 2025, Sweco's net sales reached SEK 8,548 million, up from SEK 8,100 million in the same period the previous year. Additionally, EBITA surged to SEK 979 million from SEK 901 million, and profits for the period increased to SEK 662 million from SEK 597 million. Notably, earnings per share also rose to SEK 1.84, compared to SEK 1.66 the previous year.

In terms of annual performance, Sweco’s total net sales amounted to SEK 31,586 million, a substantial increase from the previous year's SEK 30,676 million. EBITA for the full year climbed to SEK 3,332 million, leading to an EBITA margin of 10.5%. Net debt was stable at 0.4x EBITDA, with total profit for the year rising to SEK 2,226 million, up from SEK 2,072 million in 2024.

Insights from the CEO

President and CEO Åsa Bergman expressed satisfaction with the year’s achievements, stating that Sweco ended the year on a solid note, delivering stable organic growth alongside a strong cash flow. She emphasized that the favorable results were driven by an increase in average fees, growth in full-time equivalent (FTE) staff, and a higher billing ratio. Bergman also noted the contributions from Sweco's operations in Germany, Central Europe, and Belgium.

Sweco also experienced mixed market conditions, maintaining a stable order backlog. While demand remained strong in sectors like energy, water, environment, and infrastructure, the residential and commercial building markets were less robust.

Strategic Acquisitions

During the fourth quarter, Sweco completed several strategic acquisitions, including the Fimpec Group in Finland, assar architects in Belgium, and two firms in the Netherlands. Altogether, the 13 acquisitions made throughout 2025 are expected to add approximately SEK 2.1 billion in annual net sales and integrate over 1,500 new experts into the company.

The firm also extended its collaboration with Vattenfall, a Swedish energy company, enabling Sweco to provide technical consultancy across various energy sectors including wind, hydro, thermal, and nuclear power. New project wins, such as a multidisciplinary engineering effort in Norway aimed at improving local water quality, reflect Sweco's commitment to its core segments which present increasing growth opportunities.

Looking Forward

As Sweco enters 2026, it aims to capitalize on the strong foundation it has built while continuing to explore business opportunities in local markets across Europe. The company's focus will remain on operational excellence and maintaining an active acquisition agenda. Bergman expressed gratitude to colleagues, clients, and partners for their collaboration throughout the past year.

Overall, Sweco's 2025 results not only underline its resilient business model but also highlight its commitment to growth and innovation, setting the stage for continued success in the future.

For further insights, Sweco will hold a webcast and telephone conference to discuss the results at 09:00 CET on February 11, 2026. Interested parties can access the presentation slides and further details on Sweco’s website.