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. Time has come for us to present Sweco's Q3 report that we published earlier this morning. With us today, as usual, we have Sweco's president and CEO, Asa Bergman, and CFO, Jan Allde. They will take us through the numbers and results, and after that, of course, we will open up for questions, and the detail for that will follow. So, please, Asa.

Thank you Marcela. Welcome everyone to Sweco's Q3 presentation. Before we present the result for the third 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 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 our 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. Let's move over to the summary of the third quarter of 2026. Sveko delivered its strongest third quarter to date and a double-digit margin in a seasonal challenging market. The quarter was characterized by higher average fees, a strong billing ratio and continued acquisition activity. Net sales increased by 7% to 7.6 billion SEK and organic growth amounted to 2% adjusted for calendar effects. EBITDA increased to 786 million SEK, corresponding to an EBITDA margin of 10.3%. Adjusted for calendar effects, EBITDA increased by 10%. The positive development was mainly driven by strong billing ratio and higher average fees. We continue to execute on our M&A agenda by completing four acquisitions during the quarter and announcing another one in the beginning of October. Now moving over to operations. Overall, Sweco maintained a solid operational development in the quarter. Five out of eight business areas reported organic growth and six out of eight increased EBITDA in the quarter. We continued to navigate the market well with a strong order backlog. We also maintained a strong focus on efficiency reflected in a strong billing ratio of 75.1%. The solid operational trend continues across several of our business areas where the main EBITDA improvements in this quarter came from Sweco Sweden, Norway and Finland. Sweco Belgium and Germany, Central Europe delivered strong margins and Sweco UK and the Netherlands continued to improve profitability. While maintaining a strong margin, Sweco Denmark reported lower net sales and EBITDA due to lower activity in the Danish pharmaceutical sector. Overall, we are pleased to see that we continue to make progress across our business areas. Let us then turn to the market overview. Demand for Sweco services remained broadly unchanged compared with previous quarters. We see a continued growing demand within defense and security that has positive effect across Sweco segments. Demand remained good in energy, water, environment and transport infrastructure. The public and commercial building segments improved driven by investments in hospital, defense and security and data centers. At the same time, the residential building segments and part of the industry segment remained weak. With that, I welcome our CFO, Jan Allde, to walk you through the numbers. Jan, please.