HCL Tech, ÅF, and Belcan have announced tuck-in acquisitions in the past week.
We are now entering the season for Q1 earnings, and as always we will look into changes in major trends. The state of the automotive industry will be an area we will be closely monitoring.
Several readers reacted to the birth on February 22, 2019, of ÅF Pöyry. They argue that ÅF Pöyry has become a building engineering-centric firm and now shares more with the likes of Sweco, Arcadis, or SNC Lavallin in Canada, than with Altran, or HCL Tech.
We looked at the 2018 results of Pöyry, its last financials before its acquisition by ÅF. The results confirmed that Pöyry has succeeded in its recovery: its 2018 revenues were up 10.9% in 2018, to EUR 580m, and its adjusted EBIT margin was 7.5%, up 250 bps.
ÅF and Pöyry have provided some light on the combined ÅF Pöyry. ÅF Pöyry will have revenues of SEK 19.2bn (~USD 2.1bn), a decent margin with 8.5% in adjusted EBIT, and 14.5k FTEs. ÅF Pöyry will be a sizeable organization.
ÅF likes to present itself as a Nordic powerhouse, and indeed, it is the largest ER&D service vendor headquartered in the Nordics. That does not mean the company has saturated its home market: ÅF remains very much a Swedish
ÅF had a solid Q2, with CC/CS revenue growth of +6.9%, and reported growth of +11.7%, and reached revenues of SEK 3,608m (~USD410m). The company had a strong performance in its Infrastructure Division, which was up 15.8% at CS,
ÅF has acquired Facilia, a Swedish firm specialized in assessing safety for nuclear waste and nuclear plant decommissioning. Facilia is a small firm with 14 FTEs, and revenues of SEK 18.5m (USD 2m). Its client base includes tier-one Swedish
ERDservices is pleased to announce its ranking of the fastest-growing ER&D service vendors in CY 2017. Note that this ranking is based on reported numbers (and not on CC or CC/CS numbers). More about the methodology below the chart.