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SWEC B: New European Infrastructure Agreements Will Support Earnings Resilience

Update shared on 28 Nov 2025

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AnalystConsensusTarget's Fair Value
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1Y
-8.7%
7D
-3.0%

Analysts have maintained their fair value estimate for Sweco at SEK 197.00. They cite stable growth expectations and steady profit margins in their latest update.

What's in the News

  • Sweco has signed three framework agreements with Sweden's Sida agency for consulting on sustainable transport, mining, renewables and energy efficiency. The agreements are valued at up to SEK 140 million over two years and can be extended for two more years (Sida announcement).
  • Sweco is part of a new two-year framework with Sporveien, Norway's public transport provider. The total agreement scope is estimated at NOK 350-500 million with a possible extension to eight years. The framework covers rail, construction and infrastructure projects (Sporveien agreement).
  • Sweco has secured a multi-year engineering agreement with the Dutch Rijkswaterstaat agency to support major infrastructure and water management upgrades. The agreement addresses challenges such as climate adaptation and flood resilience (Rijkswaterstaat agreement).
  • Sweco has been commissioned to design the Kamieniec Zabkowicki reservoir for Polish Waters. This project is a EUR 288 million flood protection investment in Poland, with Sweco's order valued at EUR 14.6 million. Construction is expected to begin in 2027 (Polish Waters agreement).

Valuation Changes

  • Fair Value Estimate remains unchanged at SEK 197.00.
  • Discount Rate has risen slightly from 6.68% to 6.72%.
  • Revenue Growth expectation is unchanged at approximately 6.96%.
  • Net Profit Margin remains stable at around 8.36%.
  • Future P/E has increased marginally from 27.25x to 27.28x.

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