AFRY had double-digit organic growth in Q3 2022. We think that AFRY has completed its transformation initiated with the 2019 Poÿry acquisition
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.
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.
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
An Integrated AFRY: Repositioned around Digital and Sustainability
AFRY recently unveiled its strategy: the company plans to become more integrated and positioned around digital technologies and sustainability. AFRY has suffered in the past few years of a lack of organic growth. In 2019, right before the pandemic, the company grew organically by 1.9%, underperforming most competitors. Then came 2020, and AFRY handled the crisis well, with an organic decline of only 6.4%
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).
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.
AFRY Acquires A Security Management Unit in Norway
AFRY, the former ÅF Pöyry, made another tuck-in acquisition, in line with its strategy to strengthen its current businesses. The company acquired Norway-headquartered One World.
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.