The Q2 2011 interim report for Sweco highlights increased sales and profits, with net sales of SEK 1,506.7 million and an operating profit of SEK 128.0 million. The company shows strong performance across various regions, especially in Sweden, while navigating economic uncertainties. Overall, Sweco is well-positioned for continued growth despite challenges in the global economy.

1. Sustainable engineering & design
Q2 2011 Presentation
19 July, 2011
Mats Wäppling, President and CEO
Bo Jansson, Executive Vice President and CFO
►
1

2. Company highlights
• Higher growth in an increasingly strong market
- Sweco now has 6,000 employees
- Total acquisitions so far 2011: 430 employees
• Continued strong performance by Sweco
Sweden
• Improved market for Sweco Industry
• Order intake in the Baltics continues to improve
• Sweco well positioned for continued growth
• Turmoil in the world economy creates
uncertainty
◄ ►
2

3. Interim report April-June 2011
• Net sales amounted to SEK 1,506.7 million (1,365.5)
• Operating profit of SEK 128.0 million (112.2)
• Operating margin of 8.5 per cent (8.2)
• Profit after tax of SEK 92.5 million (82.5) and earnings per share
of SEK 1.01 (0.91)
◄ ►
3

4. Interim report January-June 2011
• Net sales amounted to SEK 2,927.4 million (2,704.5)
• Operating profit of SEK 264.6 million (234.6)
• Operating margin of 9.0 per cent (8.7)
• Profit after tax of SEK 189.6 million (169.1) and earnings per share
of SEK 2.08 (1.88)
• Solid financial position with net debt of SEK 74.6 million (net cash 34.6)
◄ ►
4

5. Income statement
Apr-jun Apr-Jun Jan-Jun Jan-Jun Jul 2010- Full year • Net sales growth
SEK M 2011 2010 2011 2010 Jun 2011 2010
Net sales 1 506 7
506.7 1 365 5
365.5 2 927 4
927.4 2 704 5
704.5 5 495 3
495.3 5 272 4
272.4 • Improved operating
Other operating income - 3.6 - 3.6 0.3 3.9 margin
Other external expenses -358.2 -368.1 -684.0 -682.3 -1 401.9 -1 400.2
Personnel costs -994.2 -865.4 -1 929.5 -1 743.3 -3 535.2 -3 349.0
• Still big variations and
Amortisation/depreciation
p
price pressure
and impairment losses -26.3 -23.4 -49.3 -47.9 -95.8 -94.4
Operating profit 128.0 112.2 264.6 234.6 462.7 432.7
• Write-downs Norway
Net financial items -1.8 -1.1 -3.9 -4.1 -8.8 -9.0
Profit before tax 126.2 111.1 260.7 230.5 453.9 423.7
Income tax expense -33.7 -28.6 -71.1 -61.4 -133.5 -123.8
Profit for the period 92.5 82.5 189.6 169.1 320.4 299.9
Operating margin 8.5 8.2 9.0 8.7 8.4 8.2
Billing ratio 74.0 73.8 73.5 73.5 73.4 73.4
Basic EPS 1.01 0.91 2.08 1.88 3.51 3.31
Diluted EPS 1.01 0.90 2.08 1.85 3.51 3.28
◄ ►
5

6. Operating profit rolling 12 month
SEK M
650
600
550
500
450
400
350
300
250
200
150
100
50
0
07
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
11
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Quarterly profit Rolling 12 months
◄ ►
6

7. Balance sheet
SEK M 30 Jun 2011 30 Jun 2010 31 Dec 2010 Solid financial position
Goodw ill 798.0 750.6 734.4
Other intangible assets 85.8 48.2 49.3
Tangible assets
T ibl t 214.9
214 9 199.9
199 9 199.5
199 5
• Net debt SEK 74.6
Financial assets 64.7 68.2 49.6 million (net cash 35)
Current assets excl. cash and cash equivalents 1 927.0 1 652.2 1 578.9
Cash and cash equivalents 155.9 193.3 376.7 • Net debt/equity ratio
Total assets 3 246.3 2 912.4 2 988.4 of 5 5% (-2 6)
5.5% ( 2.6)
Equity and reserves attributable to equity
Equity/assets ratio
holders in the Parent Company 1 355.6 1 336.4 1 419.6
Non-controlling interest 9.6 10.4 10.0
of 42% (46)
Total equity 1 365.2 1 346.8 1 429.6
Long-term
Long term liabilities 170.5
170 5 137.5
137 5 151.3
151 3 • Disposable cash and
Current liabilities 1 710.6 1 428.1 1 407.5 unutilised bank
Total equity and liabilities 3 246.3 2 912.4 2 988.4 overdraft facilities of
Pledged assets 16.8 - 16.6
SEK 646 million (756)
Contingent liabilities 195.8 217.3 198.4
Equity/assets ratio, % 42.1 46.2 47.8
Net interest-bearing liabilities, SEK M -74.6 34.6 240.1
Net debt/Equity, % 5.5 -2.6 -16.8
Net debt/EBITDA %
debt/EBITDA, 0.1
01 -0.1
01 -0.5
05
◄ ►
7

8. Sweco Sweden
Highlights
• Continued strong pg performance
- Operating margin 12.3%
- All units operating margin above 10%
• Net sales growth +14%
- Now more than 3,000 employees
• Overall strong market, especially in the construction sector
g , p y
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 923.3 803.0 1,793.0 1,575.7
Operating profit, SEK M 113.6 98.1 219.7 183.9
Operating margin, % 12.3 12.2 12.3 11.7
# of Employees end of per. 3.055 2.673
◄ ►
8

9. Sweco Norway
Highlights
• Overall stable market
• Write-downs in projects
• Continued growth in demand for building-related services
• Long-term demand in road and rail, hydropower, water
supply and waste water treatment
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 339.5 345.6 688.9 696.2
Operating profit, SEK M 16.4 36.2 54.0 75.4
Operating margin, % 4.8 10.5 7.8 10.8
# of Employees end of per. 960 873
◄ ►
9

10. Sweco Finland
Highlights
• Improving demand in the construction sector for
p g
office and commercial space
• Declining investments in infrastructure
– political uncertainty
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 23.9 19.3 44.0 38.9
Operating profit, SEK M 2.9 2.1 4.8 3.3
Operating margin, % 12.0 10.7 10.9 8.5
# of Employees end of per. 68 66
◄ ►
10

11. Sweco Central & Eastern Europe
Highlights
• Improved market – order intake continues to increase in the Baltics
p
• Stable market situation in Poland, Bulgaria and the Czech Republic
• Continued price pressure in public assignments
• Acquisition in Slovakia
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 60.8 64.2 115.7 128.6
Operating profit, SEK M 0.6 3.4 -2.6 4.4
Operating margin, % 1.1 5.3 -2.2 3.5
# of Employees end of per. 863 877
◄ ►
11

12. Sweco Russia
Highlights
• Improved market
• Increase in public investments
• Still low price levels
• New infrastructure business
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 27.1 7.3 32.2 13.7
Operating profit, SEK M 1.7 0.5 1.4 1.0
Operating margin, % 6.2 6.6 4.4 7.2
# of Employees end of per. 379 99
◄ ►
12

13. Sweco Industry
Highlights
• Improved market and increased demand in Finland
• Stable development in Norway, increased demand in Sweden
• Several new large assignments
Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010
Net sales, SEK M 157.3 129.4 301.8 279.5
Operating profit, SEK M 3.8 0.7 6.8 2.3
Operating margin, % 2.4 0.5 2.3 0.8
# of Employees end of per. 657 642
◄ ►
13

14. Market outlook
Trend Segment Share of net sales
Water & Environment 17% Overall improving market
Infrastructure 16% conditions
Energy Systems
gy y 14% Uncertainty in the world
economy
Building Service Systems 14%
Long-term drivers and trends:
Structural Engineering 13%
- Environmental awareness
Industry 9% - Urbanisation
- EU expansion
Architecture 9%
Project Management 6%
Geographic IT 2%
◄ ►
14

15. Summary
• A stronger market in general
• Increased growth
• Strong financial position
• Well prepared for further growth
• Uncertainty in the world economy
◄ ►
15