Swedish engineering consultancy Sweco AB reported a 19% rise in third-quarter earnings, crediting an aggressive acquisition strategy and strong demand in key sectors for its growth.
The company said Wednesday that earnings before interest, taxes, and amortization rose to 702 million Swedish kronor, while net sales for the July-to-September period increased 5% to 7.14 billion kronor.
The results come as Sweco continues a major expansion push, closing five acquisitions during the quarter and announcing three more deals afterward, including the purchase of Finnish energy consultant Fimpec Group and Belgian firm assar architects.
The company said its workforce has now grown to 23,000 experts.
Sweco noted continued strong demand in the energy, infrastructure, and defence sectors, which helped offset persistent weakness in parts of the building and real estate markets.
"The third quarter demonstrates the strength of Sweco’s diversified business and our commitment to delivering on our strategic priorities," President and CEO Åsa Bergman said in a statement.
"We will remain focused on capturing growth opportunities, further improving efficiency and margins, pursuing attractive M&A opportunities and continue positioning Sweco in the planning and designing of a more competitive and resilient Europe."
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