In Q3 2022, Sweco achieved its best organic growth of the past ten years. Revenues were up 9% yoy organically, primarily thanks to price increases.
Has AFRY Finalized its Transformation? Enjoys Strong Organic Growth
AFRY had double-digit organic growth in Q3 2022. We think that AFRY has completed its transformation initiated with the 2019 Poÿry acquisition
Meet Ratos: the New Owner of Semcon. Outbids Etteplan
Ratos Offers A 5% Premium over the Etteplan Offer for Semcon Etteplan’s offer for Semcon seemed
Etteplan To Acquire Semcon. The Best Option For Semcon
Etteplan To Acquire Semcon to Gain Scale Etteplan, the ER&D services vendor headquartered in Espoo, Finland,
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.
Semcon Spins Off Its PI Unit To Increase Shareholder Value
Semcon To Spin Off Product Information (PI) Semcon will spin off its Product Information (PI) unit and
AFRY Launches AFRY X, Its New Digital Division
mployees from the other five divisions. It has approximately a revenue of SEK 1bn (USD 110m) and 800 employees. AFRY is gradually ramping up its digital investments and expects to spend SEK 100m in 2022, up from SEK 50m in Q1-Q3 2021.
Sweco Still Struggling to Resume Growth in Q3 2021
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When Will Sweco Make A Significant Acquisition?
It has been five years since Sweco made its last significant acquisition. In 2015, the company took over Grontmij, which brought 6,000 employees and revenues of EUR 659m.
Sweco: Is Sustainability Good Enough?
Sweco had a relatively mild financial performance in Q2 2021 with a 2% yoy growth at cc/cs to SEK 5,643m (USD 649m). The company did not benefit from favorable comps (Q2 2020: +2% yoy at cc/cs). Sweco suffered from its lower utilization rate and headcount
AFRY: High Growth and Surprises in Q2
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AFRY Gets its Energy Division Back to Organic Growth
AFRY: the Energy Division Has Completed its Portfolio Transformation and Is Back to Growth AFRY finally
UPDATED: Sweco Issues Profit Warning After German Operations Review
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NNIT Shows A Path to Growth in Pharma
We rarely talked about Denmark-based NNIT. The company is the former IT captive of Danish pharmaceutical firm Novo Nordisk, thus the name NNIT, which stands for Novo Nordisk IT.
More Tuck-In M&As Despite the Pandemic! Belcan, AFRY, and Semcon
Tuck-in M&As continued despite the pandemic and the pending US elections today, with Belcan, AFRY, and Semcon active in the past week.
Europe Has Entered its Second Lockdown. A Look at Financial Implications
Europe has now entered its second lockdown. The lockdowns have different restrictions levels and different lengths. The UK and France are running for the full month of November. Officials in the two countries have, however, warned the lockdown might last longer, until Christmas at least.
AFRY Protected Well Its Bottom Line In Q3
AFRY, once again, protected its bottom line during the pandemic. The company limited its Q3 2020 EBITA margin decline to 40 bps to 6.7%. AFRY reduced its expenses by SEK 480m in Q3, a level similar to QA (SEK 490m).
Sweco Demonstrates Its Resilience Despite COVID-19
Sweco had already demonstrated its resilience in Q1, with a +4% organic growth. In Q2, despite COVID-19, the company remained in positive territory (+2%). The performance is a surprise, as Sweco is very sensitive to the number of working days.
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.
Tuck-In Acquisitions Continue Despite the Stock Markets Melt-Down
Despite the stock market melt-down, ER&D vendors have continued to make tuck-in acquisitions in the past two weeks. The acquired firms were of small size and not likely to impact the net debt of their new owners. However, should the Covid-19-China-US trade-war-Stock Markets meltdown-oil price crisis degenerate into a recession, we expect suck tuck-in acquisitions to become scarce.
AFRY Declines Organically in Q4
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Sweco Acquires An Architecture Bureau in Belgium
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Akka Acquires Data Respons and Makes its Most Expensive Acquisition Ever
In a November blog, we had mentioned that Akka had issued €175m in convertible bonds. Akka
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.