Etteplan To Acquire Semcon to Gain Scale Etteplan, the ER&D services vendor headquartered in Espoo, Finland,
Cyient Completes Largest Acquisition Ever with Citec
Cyient made its largest acquisition ever with Citec. Citec is headquartered in Vasa, Finland. The company provides primarily power plant engineering services.
AFRY Hoping for the Best…
AFRY is hoping for the best but expecting the worse for H2 2022. The company made clear that the macro-economic conditions and the geopolitical context were uncertain as ever.
M&As: Many Tuck-In Acquisitions and Cognizant ESG
ER&D vendors continue to be very active in M&As, with many tuck-in acquisitions. AFRY is now in full acquisition mode with six transactions in 2021 YTD. Competitor Sweco has also accelerated with four transactions. Accenture has made an unusual transaction by taking over a manufacturer of industrial automation and robots in Brazil for Accenture Industry X. Finally, Cognizant acquired a significant German automotive ER&D vendor, ESG.
AFRY Hit by Collapse in Automotive Engineering Demand in Q2
No surprise. AFRY had a terrible Q2 2020: revenues were down by 9.2% yoy at CC/CS. The Industry and Digital Solutions Division led the decline (with revenues down yoy at 16.3% at CC/CS). The Division suffered in the automotive sector, whose revenues collapsed by 40% during the quarter.
AFRY: One Year After the Merger, Still Struggling on Organic Growth
One year after its merger with Pöyry, AFRY is still struggling. At the time of the Pöyry acquisition, AFRY, the ÅF, wanted to reignite organic growth and improve its profitability. The result is mixed.
ÅF Pöyry Changes Its Brand to AFRY
Swedish ER&D service vendor ÅF Pöyry changed its brand to AFRY, the amalgamation of ÅF and pöyRY. Meanwhile, its legal name will remain ÅF Pöyry.
Sweco: Steady Performance in Q3 2019
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ÅF Pöyry Suffers from The Economic Conditions in Q3 2019
ÅF Pöyry’s revenue growth (yoy, at CC/CS) continued to decelerate this quarter, declining from +8% in Q1 to +1% in Q3 2019, despite the positive impact of an additional working day (+90 bps on revenue growth during the quarter). The company suffered from the same issues as in Q2: a slowdown in the automotive sector from its largest automotive client, (impacting Industrial & Digital Solutions Division) and delayed decision-making in the Infrastructure Division in Denmark.
ÅF Pöyry decelerates in Q2 after solid Q1
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Tieto to acquire EVRY. A few thoughts about its ER&D business
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ÅF Pöyry accelerates its growth in Q1
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Is ÅF Pöyry an ER&D service vendor?
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.
Pöyry completes its recovery in 2018
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.
2018: A Year in Review
2018 was an eventful year: the top ER&D vendors accelerated their M&A activities. Alten continued to deploy its business model. HCL Tech’s ERS unit had a superb year
ÅF Expands Outside of its Core Markets, but Still in the Nordics!
ÅF likes to present itself as a Nordic powerhouse, and indeed, it is the largest ER&D