Sweco Finland Q4 2024: Good profit development and several significant assignments

Sweco Finland's net sales in the fourth quarter were EUR 82.4 million, which was EUR 1.4 million less than in the corresponding period last year. EBITA for the quarter was EUR 10.2 million, compared to EUR 4.2 million in the corresponding period of 2023. The EBITA margin remained at a good level being 12.4 per cent, an increase of 7.4 per centage points.

Sweco Finland's net sales in 2024 was EUR 315 million (EUR 318 million in 2023) and the EBITA margin was 10.3 per cent (6.7 per cent in 2023).

"Our last quarter was overall good, even though the operating environment in Finland remained challenging and a clear change for the better was still awaited. On the positive side, there was some increased activity in the building construction market. At the turn of the year, we acquired in line with our strategy, which brought 50 new experts to Sweco," says Thomas Hietto, CEO of Sweco Finland.

Sweco has signed an agreement to acquire the Sipti companies. With the acquisition, Sweco will significantly increase geotechnical engineering and consulting services in its offering, and strengthen its environmental consulting services.

Sweco's project, Katajanokka pier, won the Wood Award of the year and it was also selected as the winner of the RIL Award 2024. The architectural office and hotel building is one of the most impressive creations of wood construction. Sweco provided structural design and was also responsible for the production design of wooden elements and steel structures.

During the last quarter of the year, Sweco Finland won several significant projects.

Metropolitan Area Transport Ltd, which is building the new depot in Koskela, has made the decision to proceed to the implementation phase, for which the alliance agreement was signed at the beginning of December. The construction is carried out by an alliance group called Akseli, in which Sweco is one of the design parties. The Koskela depot project has ambitious environmental targets in terms of carbon emissions, circular economy, energy solutions and environmental certification, and the project aims for the highest BREEAM Outstanding certification. Sweco's multidisciplinary expertise and the tools developed in the project are utilised in achieving the environmental goals.

The alliance agreement for the development phase of the Vantaa tram was signed at the end of October. In the alliance project, Vantaa's first tramway line will be designed and implemented, which will develop not only connections but also more sustainable urban areas. The extensive project is divided into western and eastern parts, and Sweco is responsible for planning the tramway, streets, bridges, municipal engineering and environment as one of the alliance parties in the eastern part of the project.

As part of an alliance, Sweco was chosen as a partner in the development phase of Helsinki's light rail expansion. The framework agreement includes the Vihdintie light rail, the Viikki-Malmi light rail and the West Harbour light rail. In addition to tramway construction, the alliance aims to promote broader and more sustainable urban development.

"I would like to thank our clients for their trust in Sweco's expertise. We are excited by the opportunity to create a more sustainable and resilient society together with our clients. I would like to extend a special thanks to our skilled and client-focused personnel, who have done an excellent work during challenging times," says Thomas Hietto.