Sweco, based in Belgium, Luxembourg, Vietnam and France, has published its results for 2024. Sales were up 8%, topping SEK 30bn (around €2.61bn). The company’s EBITDA exceeded SEK 3 bn (around €277m), up 20% on the previous year. For the first time the firm thus achieved a “double-digit margin” for the year as a whole, the first for more than a decade, said the company in a the press release.
The firm also managed to reduce its debt, with a net debt/EBITDA ratio of 0.4 compared with 1.1 the previous year. “2024 was a successful year, marked by good growth and strong profitability,” said Sweco CEO Åsa Bergman. “I am proud that Sweco’s experts are playing a key role in planning and designing a stronger, more competitive and more resilient Europe. We are well positioned to advise our clients on the green transition and are expanding into areas such as defence and security. Digitalisation and AI have been powerful levers to accelerate internal efficiency, create value in customer projects and evolve the service offering.”
Sweco’s Belgium entity, which brings together the Belgian and Luxembourg business, generated sales of SEK 3.9bn with an EBITA of SEK 500m.
Sweco’s growth and profitability were driven in particular by the ecological transition. “Most business sectors experienced good market conditions in the infrastructure, water, environment and energy segments,” said the company. The firm’s plans include achieving carbon neutrality by 2040 and halving emissions by 2030. Other highlights for 2024 include Sweco securing a significant framework contract with Statkraft in Norway for up to five years in the field of renewable energy.
Another element contributing to the company’s good results was the expansion of certain sectors such as security, defence and digitalisation, with growing demand in these sectors, as well as in pharmaceuticals and healthcare.
In 2023, Sweco acquired VK architects+engineers. Mainly active on the Belgian market, VK architects+engineers was also present in Luxembourg, the Netherlands, the United Kingdom and Vietnam. The integration process continued into 2024, with the aim of achieving efficiency gains and synergies so as to create as much value as possible for the future.
In Luxembourg, Sweco employs 71 people. Among its current flagship projects, the firm is leading a consortium for the development of the Südspidol hospital complex in Luxembourg on behalf of Émile Mayrisch Hospital (Chem). This complex will be a major healthcare hub, with a surface area of 121,000 m2 and around 600 beds.
In 2020, the firm acquired 100% of the capital of Betic, now Betic part of Sweco. The entity has not yet published its 2024 accounts.
This article in French.