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Interim report January – March 2025 Sweco AB (publ)

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STOCKHOLM, April 29, 2025 /PRNewswire/ — Sweco (NASDAQ: SWEC-B) reports a solid first quarter, with stable growth and continued margin improvement. Net sales grew 4 per cent and EBITA increased 10 per cent, adjusted for calendar effects. The EBITA margin increased to 11.2 per cent. Overall demand remained consistent with previous quarters, with good demand within energy, water, infrastructure, security and defence. Europe’s green transition continues to drive demand for Sweco’s services.

January–March 2025

Net sales increased to SEK 8,066 million (7,720)EBITA increased to SEK 900 million (793), margin 11.2 per cent (10.3)EBITA increased 10 per cent year-on-year after adjustment for the positive calendar effect in the quarterEBIT increased to SEK 891 million (778), margin 11.0 per cent (10.1)Net debt/EBITDA decreased to 0.5x (1.1)Net debt decreased to SEK 1,607 million (3,118)Profit for the period increased to SEK 644 million (558) Earnings per share increased to SEK 1.79 (1.55) and diluted earnings per share increased to SEK 1.78 (1.55)

Comments from President and CEO Åsa Bergman:

“A solid start to the year”
Sweco reports a solid first quarter, with stable growth and continued margin improvement. Net sales grew 4 per cent and EBITA increased 10 per cent, adjusted for calendar effects. The EBITA margin increased to 11.2 per cent.

We have sustained our positive operational trend with continued price increases, a higher billing ratio and cost control measures. 

With some variation between geographies, the overall demand remained consistent with previous quarters, with good demand within energy, water, infrastructure, security and defence. However, demand remained weaker in parts of the buildings and industry segments. We noted a healthy order inflow and an order backlog growing in line with sales.

Financial performance
Net sales increased to SEK 8,066 million (7,720) and EBITA increased to SEK 900 million (793), corresponding to an EBITA margin of 11.2 per cent. Adjusted for the positive calendar effect of SEK 27 million in the quarter, EBITA increased 10 per cent. The organic growth rate was 4 per cent. The EBITA improvement was mainly driven by higher average fees and a higher billing ratio, while a negative effect arose from higher personnel expenses. 

Six out of eight business areas reported an improved EBITA adjusted for calendar effects. Sweco Denmark and Belgium continued to perform well with solid growth and strong margins. The Netherlands delivered the greatest improvement, driven by higher average fees. Sweden, Finland and Norway reported stable quarters in a mixed market and are introducing additional efficiency improvement measures. Sweco UK continues to improve its performance, while Germany & Central Europe performed in line with last year.

New projects and acquisitions 
The green transition of European industries and energy systems continues to drive demand for Sweco’s services. In the quarter, Sweco won a SEK 580 million five-year contract to support the expansion of the electricity grid in Eastern Denmark as part of the country’s climate agenda. We were also commissioned by Swedish metals and mining company Boliden, to undertake a project to replace one of its oil-fired boilers with two electric steam boilers, thereby supporting the company’s efforts to transition to fossil-free copper production.

We are experiencing continued good demand in transportation services, driven by investments in infrastructure and sustainable transport. In the Baltics, Sweco will be part of a project alliance to design and construct the first phase of a high-speed rail link connecting the Baltic States with the rest of Europe. 

We are also proud to have been chosen as the project manager for the new Oslo Spektrum Arena in Norway. This project aims to establish Oslo as the leading event capital in the Nordics. The expansion of the existing arena will include a new convention centre, cultural stage, city hall, and over 1,000 office spaces. 

Acquisitions are a key growth driver for Sweco, and we aim to increase the pace of acquisitions throughout the year. As previously communicated, we made one acquisition in the first quarter, Finnish Sipti Consulting with some 50 experts. This will strengthen Sweco’s position in geotechnical and environmental services. 

Priorities going forward
We continue to execute on the priorities communicated over the past quarters, delivering solid growth and improved profitability. The stable performance and the results from the first quarter prove the strength of Sweco’s well-diversified business and operating model. In light of the recent global political turbulence, these strengths enables us to maintain close relationships with our clients and be ready to act on opportunities and mitigate challenges. The underlying trends supporting Sweco’s business remain strong, and we are well-positioned in emerging growth areas as European countries are investing in a safer, greener and more competitive future.”

Information meeting
A web cast and telephone conference will be held following the release of the results, starting at 09:00 CET.  Åsa Bergman, President and CEO, and Olof Stålnacke, CFO will comment on the report.

Webcast registration: Click here Conference call registration: Click here

Slides used in the presentation and the report will be available at the Group’s web site. 

Press photo
Åsa Bergman, President and CEO of Sweco, free use. Please credit photographer: Tobias Regell.

This disclosure contains information that SWECO is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-04-2025 07:20 CET.

For additional information, please contact:
Anna E Olsson, Head of Press, Sweco Group, +4670 557 33 26, anna.e.olsson@sweco.se 

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ECOVACS launches DEEBOT X12 OmniCyclone and WINBOT mini 2: This Diwali is about your guests, not your cleaning

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MUMBAI, India, Oct. 19, 2026 /PRNewswire/ — ECOVACS Robotics today announced the launch of its flagship DEEBOT X12 OmniCyclone robot vacuum and the WINBOT mini 2 window-cleaning robot, built to take floor and window cleaning off your list during the festive season.

Diwali is when homes fill with family and friends. Between the sweets, rangoli, late-night gatherings and constant footfall, floors and windows take a beating, and cleaning up should not take away from the celebration. ECOVACS lets hosts stay present while their home looks after itself.

DEEBOT X12 OmniCyclone: Host the Party, Skip the Clean-Up

Stubborn festive stains, gone. Sticky sweets, spilled chai and dried-on cooking splatters are pre-softened by FocusJet Stain Pre-dissolving Technology, then lifted by a continuously freshwater-rinsed OZMO ROLLER 3.0, leaving floors streak-free.Spotless to the edges. TruEdge 3.0 cleans right along walls, cabinets and corners where crumbs gather, while BLAST suction clears dust, debris and hair, and ZeroTangle 4.0 prevents brush tangles.Hands-free, always ready. The OmniCyclone station takes care of the robot too. PureCyclone 2.0 Auto-empty Technology clears dust automatically with no replacement bags to buy, and automated station maintenance keeps your robot vacuum clean and ready for action, with minimal upkeep from you.Power through the busiest days. PowerBoost Charging Plus restores 13% battery in just 3 minutes, supporting uninterrupted cleaning across spaces of over 1,000 m² in adaptive charging mode.

“Festive seasons such as Diwali are when homes are at their fullest and floors work the hardest. With the DEEBOT X12 OmniCyclone, we want families to enjoy every moment with their guests while their home stays effortlessly clean,” said Chua Han Xiong, ECOVACS Robotics’ Head of Sales, South-east Asia and South Asia.

WINBOT mini 2: The Diwali Gift That Keeps Giving

Looking for something more thoughtful than sweets and dry fruits? The WINBOT mini 2 is an affordable, practical gift that makes everyday home care easier long after the festival ends.

Sparkling windows, no climbing. No stools, no stretching, no streaks, so windows are ready for festive lights and family photos. Ultrasonic Atomization Spray softens built-up stains for a thorough clean.Made for tricky spaces. Its ultra-slim 55mm body fits narrow windows, and upgraded four-corner brushes clean as close as 1mm from the frame.Smart and safe. WIN-SLAM 4.0 plans an efficient cleaning path, while 8,000Pa suction and a Ten-Tier Safety System keep operation secure.More than windows. It also cleans full-length mirrors, glass dividers and tiled bathroom walls, so one gift works across the whole home.

Set Up in Minutes, Supported Across India

ECOVACS offers free installation and demonstration after purchase, so customers never have to worry about setting up, backed by a service network spanning 200+ cities across India.

Make This Diwali Effortless

The DEEBOT X12 OmniCyclone and WINBOT mini 2 are available now at the ECOVACS official website, Amazon India and authorised retailers.

About ECOVACS ROBOTICS:

Founded in 2006, ECOVACS ROBOTICS is a global leader in home service robotics with a diverse portfolio of products encompassing robotic vacuum cleaners and robotic window cleaners. With its expansion into robotic lawn mowers, commercial cleaning robots, robotic pool cleaners and robotic pet companion, ECOVACS solidified its position as a multi-category leader in home service robotics.

Guided by the mission “Robotics for All,” ECOVACS continues to advance technology and enhance the user experience to make life smarter and more stylish for consumers worldwide. With sales subsidiaries in Germany, the United States, Japan, and Singapore, ECOVACS products reach nearly 180 major markets and serve over 38 million households globally.

A testament to this market leadership, ECOVACS ROBOTICS has ranked first in China’s robotic vacuum cleaner market by share for ten consecutive years (2015-2024), and in India for four (2023-2026).

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VTT Info: Finland lays the groundwork for large-scale underground hydrogen storage in crystalline bedrock

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ESPOO, Finland, Oct. 19, 2026 /PRNewswire/ — As Europe scales up renewable hydrogen production, large-scale hydrogen storage will be needed to balance production and consumption. A new Finnish study by VTT Technical Research Centre of Finland and Geological Survey of Finland GTK, together with companies operating in Finland’s hydrogen economy, shows that underground hydrogen storage can also be developed in crystalline bedrock – an important finding for countries and regions that cannot rely on salt caverns.

Underground hydrogen storage is needed to balance hydrogen production and use over days and weeks, not just hours. While hydrogen transmission pipelines can provide short-term flexibility, multi-day balancing requires large underground storage facilities. The findings are particularly relevant for Finland, which aims to become one of Europe’s leading hydrogen economies but lacks the underground salt caverns that are available for hydrogen storage in many other European countries.

“Developing underground hydrogen storage facilities is a lengthy and capital-intensive undertaking. The project estimated that constructing a 40,000 m³ storage facility would cost approximately EUR 30 million. Including planning and permitting phases, the overall project duration would be four to five years,” says Pasi Valkokari, Senior Scientist at VTT and project leader of the research initiative. 

In a joint research project funded by Business Finland, VTT and GTK have, for the first time, carried out a comprehensive assessment of the requirements for hydrogen storage under Finnish conditions. The HUG project also involved nearly twenty companies operating in Finland’s hydrogen economy. 

“The project has generated valuable knowledge on underground hydrogen storage alternatives and improved understanding of both the opportunities and the remaining uncertainties that need to be resolved. The results provide a strong foundation for developing large-scale hydrogen storage as an integral part of future hydrogen systems,” says Satu Sipola, Vice President, Hydrogen and Power-to-X, at Fortum Power and Heat. 

Storage cavern design and safety require further research

Existing underground salt caverns in Central Europe and the United Kingdom can be used for hydrogen storage as they provide naturally gas-tight conditions. Finland, however, lacks suitable salt formations, meaning that storage caverns must be excavated in crystalline bedrock and gas-tightness created with technical solutions. This makes Finland a relevant test case for other regions where salt cavern storage is not available.

“The geological site selection, site investigations, and material studies for a hard rock hydrogen storage facility are essential to ensure that the surrounding bedrock remains stable and that safety is not compromised if hydrogen were to react with other materials,” says Teemu Lindqvist, Geologist at GTK. 

The joint study examined the feasibility of locating large underground hydrogen storage caverns in Finnish bedrock. As an outcome, the project developed a high-level storage concept covering storage structure design, operating models, geological and safety requirements, technical and societal risks, investment needs, and ecosystem models. In addition to the findings, several important technical, commercial and regulatory questions remain and will require further investigation. 

“We are now preparing the next phase of the research with the industry consortium and aim to continue developing the research-based design requirements that will enable the development of a pilot facility and a replicable storage concept for wider deployment,” says Jutta Nyblom, who is responsible for industrial collaboration in the project and for preparing the initiative at VTT. 

Phased development of hydrogen economy

Finland’s hydrogen economy is expected to develop in stages. The first phase will see the emergence of regional hydrogen clusters. As hydrogen production and consumption volumes grow, dedicated storage facilities will become a critical enabler of commercially viable hydrogen value chains by helping to stabilise hydrogen prices and availability.

Initially, smaller storage solutions will suffice. However, the need for medium-scale underground hydrogen storage facilities with a volume of 10,000 to 40,000 cubic metres is expected to grow rapidly. 

“Public investment support is critical to accelerating green hydrogen investment and the development of Finland’s hydrogen economy, as well as ensuring that storage projects can move forward without delay.  Alongside public support, projects will require close collaboration across value chains, a stable and predictable regulatory environment, and firm offtake commitments to move forward,” says VTT’s Pasi Valkokari. 

Industrial partners of the HUG project 
AFRY Finland Oy
BusinessOulu
Danfoss Drives Oy
DEKRA Industrial Oy
EDR Medeso Oy
Energiateollisuus ry
Fortum Power and Heat Oy
Gasgrid vetyverkot Oy
Geomachine Oy
Green North Energy Oy
Helen Oy
Lujabetoni Oy
Mincon Nordic Oy
Neste Oyj
St1 Oy
Sweco Finland Oy
Valmet Automation Oy
Vantaan Energia Oy

The project was primarily funded by Business Finland. Research activities were carried out by VTT Technical Research Centre of Finland and the Geological Survey of Finland GTK. 

CONTACT:

For additional information:

Read the full report here
Media material with pictures and infographic
HUG website

VTT
Pasi Valkokari, Senior Scientist
pasi.valkokari@vtt.fi
+358 40 827 8919

Jutta Nyblom, Senior Scientist for industry collaboration and HUG2 project preparation
jutta.nyblom@vtt.fi
+358 40 538 8430

Geological Survey of Finland GTK
Teemu Lindqvist, Project Manager
teemu.lindqvist@gtk.fi
+358 29 503 2171

Fortum
Fortum NewsDesk, newsdesk@fortum.com, +358 40 198 2843

Further information on VTT:

Satu Holm-Jumppanen
Manager, Communications
+358 50 305 4718, satu.holm-jumppanen@vtt.fi 
www.vtt.fi

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Finland lays the groundwork for large-scale underground hydrogen storage in crystalline bedrock

 

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Elbit Systems Awarded $235 Million Contract to Supply EXTRA-MR Rockets and PULS Launchers to a European Country

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HAIFA, Israel, Oct. 19, 2026 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today that it was awarded a contract valued at approximately $235 million to supply EXTRA-MR (Medium Range) rockets and Precise & Universal Launching System (PULS™) rocket artillery systems to a European customer, under a government-to-government (G-to-G) agreement between the Israel Ministry of Defense and the customer country’s Ministry of Defense. The contract will be performed over a period of three years.

Under the contract, Elbit Systems will supply the medium-range variant of the Company’s EXTRA supersonic rocket system. The contract also includes the delivery of PULS launchers, additional rocket-artillery-related platforms, and integrated logistics support.

The EXTRA-MR (Medium-Range) is a precision-guided rocket munition designed for mid-range operational scenarios, enabling highly accurate engagement of high-value targets at ranges of up to 80 km. Fully compatible with Elbit Systems’ PULS and existing C4I architectures, the system provides a flexible and cost-effective capability across a broad range of mission profiles.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: “This contract award further strengthens Elbit Systems’ position as a global leader in rocket artillery systems and reflects the growing international demand for our advanced rocket and launcher capabilities. The PULS systems and precision rocket solutions are recognized among the leading systems in their category and have been selected by a growing number of customers worldwide, including European and NATO member states. We remain committed to delivering advanced operational capabilities that support our customers’ evolving defense requirements.”

About Elbit Systems

Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.

Driven by its agile, collaborative culture, and leveraging Israel’s technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats.

Elbit Systems employs over 21,000 people in dozens of countries across five continents. The Company reported $2,287.1 million in revenues for the three months ended June 30, 2026 and an order backlog of $32.0 billion as of such date.

For additional information, visit: https://elbitsystems.com, follow us on X or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact: 
Dr. Yaacov (Kobi) Kagan, Executive VP – CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com 

Daniella Finn, VP, Investor Relations
Tel: +972-77-2948984
daniella.finn@elbitsystems.com

Dalia Bodinger, VP, Communications & Brand
Tel: 972-77-2947602+
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; including the duration and scope of the war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this press release.

Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this press release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

 

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SOURCE Elbit Systems Ltd.

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