Sweco Finland Q3 2024: Good profit development and focus on supporting the green transition

Sweco Finland's net sales in the third quarter were EUR 65.8 million, which was EUR 2.6 million less than in the corresponding period last year. EBITA for the quarter was EUR 6.1 million, compared to EUR 3.7 million in the corresponding period of 2023. The EBITA margin remained at a good level being 9.2 per cent, an increase of 3.7 per cent. The number of employees at the end of September was 3,000.

"Our net sales fell short of the previous year's level. The main reason for this was the continued slowdown of the construction market. Despite this, we were able to clearly improve our profitability. During the quarter, we won several great projects in green transition growth areas. We also launched a new sustainability consulting business unit with the aim of growing Sweco into Finland's largest sustainability consultancy. We want to include sustainability in all our client projects in an impactful way," says Thomas Hietto, CEO of Sweco Finland.

During the third quarter, Sweco Finland won several significant projects.

Finnish biotech start-up company Enifer has awarded Sweco a new contract to establish a new plant for the industrial production of mycoprotein. Mycoprotein is a high-quality, fungus-based protein source and is used in the food industry as a sustainable substitute for meat. Production starts in 2026, and the plant will be the world's first to utilise side streams from food production on a commercial scale in an industrial symbiosis. Sweco will deliver services for project management, plant design, building permits, procurement and construction management in a project valued at EUR 4.2 million.

Sweco is planning Ren-Gas' e-methane production plant, which will be built in the immediate vicinity of the Tarastenjärvi power plant northeast of Tampere. The location enables the delivery of carbon dioxide from the nearby energy company's power plant, as well as district heating integration for the utilisation of waste heat. The plant has been granted an environmental permit, and the construction of the project will take place between 2025 and 2027. When completed, the Tampere production plant will produce renewable fuel for the use of approximately 600 heavy-duty vehicles, as well as a significant amount of renewable district heat for Tampere residents. Ren-Gas' e-methane production plant will be a significant milestone in implementing green transition investments in Finland.

"I would like to express my gratitude to our clients for the good cooperation and trust, and to our employees for their excellent work during the year," says Thomas Hietto.

Sweco's Interim Report July–September 2024