Sweco AB

change at sweco we choose to see change as opportunity to embrace global shifts with our concept of architects and engineers working hand in hand and in change use the collective knowledge of citizens communities clients and consultants to transform society for the better As populations grow, demographics shift and demands on urban planning and infrastructure evolve. It's the opportunity for cities to become more resilient, more sustainable, more secure. To adapt to the climate demands of today and the new needs of tomorrow's communities. Navigating the green transition is opportunity. Alongside our clients is the chance to establish the resource efficient industries, reliable energy and transport systems that societies and competitive economies need to thrive. We seize every opportunity. And with AI and digitalization powering innovation, amplifying performance, and revealing deeper value, our multidisciplinary experience and capabilities make greater impact than ever. One thing will never change. Our philosophy. Every single Sweco consultant will always have the expertise, determination and responsibility to make a difference. It's how we keep transforming society together.

Good morning and welcome to this presentation of Sweco's Q1 report. With me this morning I have Sweco's president and CEO Åsa Bergman and CFO Jan Alde. After their presentation they will take your questions and we will give you the instruction at that point. So over to you Åsa.

Welcome everyone to Sweco's Q1 presentation. Before we present the result for the first quarter, let me give you a quick overview of Sweco. Sweco is Europe's leading architecture and engineering consultancy with operations in eight geographical business areas across some 15 markets in Europe. We are a well-diversified business operating across three different segments with a good balance of private and public clients. The foundation for Sweco's long-term success is a mix of competencies spread across 23,000 experts. Our focus on organic and acquired growth, as well as our efficient and decentralized operational model. With a strong financial track record and financial position, we are focused on continuing our growth journey and build on Sweco's success. With this introduction, let me start the presentation with a summary of the first quarter of 2026. In Q1, Sweco delivered a stable result in a mixed market characterized by positive organic growth, increasing fees and billing ratio, and continuing acquisition activity. Net sales increased 3% to 8.3 billion SEK, and the organic growth rate was 3%. EBITDA amounted to 869 million SEK, corresponding to a margin of 10.4%. EBITDA increased by 5%, adjusted for calendar effects. Higher average fees, a higher billing ratio and contribution from acquisitions had a positive effect on the result in the quarter, while restructuring and integration costs as well as higher personal expenses had a negative impact. Our acquisition activity continued with three acquisitions in this quarter. Now let us go into more details. Overall, most business areas delivered a stable first quarter. Five out of eight business areas delivered positive organic growth, and five out of eight also improved EBITDA in the quarter. We continued to navigate the market well and increased our order backlog. We also maintained a strong focus on internal efficiency as reflected in the billing ratio compared to last year. I would also like to highlight the positive performance in Sweden that delivered solid organic growth and a positive EBITDA improvement supported by synergies from the recent acquisition of Projekt Engagement. However, the result was negatively impacted by project adjustments and restructuring and integration costs taken in Sveco Finland. We are pleased to see that most business areas performed well in this quarter. Let us now turn to the market overview. Demand for Sweco services was broadly consistent with previous quarters. Demand remained good in energy, water, environment, infrastructure, as well as security and defense. Residential and commercial buildings and part of the industry segment remained weak. The uncertainty in the broad macro and geopolitical environment increased. but a decentralized operating model and well-diversified business model with a clear European focus provided resilience in the quarter. As capital and policy attention increasingly shift towards Europe's competitiveness and resilience, this focus is becoming even more relevant for Sweco. With that, I welcome our CFO, Jan Alde, to walk you through the numbers. Please, Jan.