STOCKHOLM, Oct. 27, 2023 /PRNewswire/ — Sweco’s (NASDAQ: SWEC-B) third quarter report demonstrates continued strong growth and increasing EBITA levels. The order book was strengthened with projects that support clients in the green transition in Europe and overall demand for Sweco’s services remained stable. Three acquisitions were announced in the quarter, amounting to a total of 10 acquisitions and more than 1 200 new experts joining Sweco during the year so far.
Net sales increased to SEK 6,417 million (5,372)EBITA increased to SEK 465 million (382), margin 7.2 per cent (7.1)EBITA increased 41 per cent year-on-year after adjustment for calendar effectsEBIT increased to SEK 428 million (387), margin 6.7 per cent (7.2)Profit after tax amounted to SEK 267 million (278), corresponding to SEK 0.75 per share (0.78)January–September 2023
Net sales increased to SEK 20,806 million (17,565)EBITA increased to SEK 1,877 million (1,516), margin 9.0 per cent (8.6)EBITA increased 28 per cent year-on-year after adjustment for calendar effects EBIT increased to SEK 1,798 million (1,552), margin 8.6 per cent (8.8)Net debt/EBITDA amounted to 1.5 x (0.9)Net debt amounted to SEK 4,200 million (2,206)Profit after tax increased to SEK 1,250 million (1,150), corresponding to SEK 3.48 per share (3.21) Comments from President and CEO Åsa Bergman:
“Strong growth and result in the quarter
The third quarter marked a significant improvement compared to last year, with net sales growth of 19 per cent and an EBITA improvement of 41 per cent, adjusted for calendar effects.
The positive development was the result of fee increases and continued recruitment, as well as the measures initiated in the third quarter of last year to manage costs and adapt to the current mixed market environment.
The green transition in society remains a core driver in all our markets. We kept strengthening our order book, despite the fact that the demand in some segments was negatively impacted by the macro-economic situation. During the quarter, we also continued to execute on our growth strategy by signing three new acquisitions.
Continued improvements across most business areas
Net sales increased to SEK 6,417 million (5,372), with a calendar-adjusted organic growth rate of 9 per cent. EBITA increased to SEK 465 million (382), an increase of SEK 158 million or 41 per cent, adjusted for calendar effects. The positive result was primarily driven by higher average fees and a higher number of employees.
Seven out of eight business areas reported positive organic growth in the quarter, with six business areas also reporting higher EBITA levels, adjusted for calendar effects. Sweco Belgium and Denmark reported yet another quarter with strong growth and margins. The Netherlands reported a quarter with good growth and solid margin. Germany delivered a good quarter, a sign that it is continuing to develop in the right direction. Sweden reported strong organic growth, improved EBITA and a margin in line with last year, despite the negative calendar effects. Finland and Norway both delivered solid organic growth, with EBITA improvement in Finland and a slight decline in Norway, adjusted for calendar effects.
The market situation remains challenging in parts of the UK market and we noted negative growth and a negative EBITA in the quarter. The loss was partly driven by redundancy costs for actions taken to bring the UK business back on track.
Acquisitions and projects
In the third quarter, we acquired OJ Rådgivende Ingeniører, one of Denmark’s leading engineering firms in the building market with a turnover of SEK 400 million. The company has both public and private clients in healthcare, social housing, industry, offices, education and residential. With this acquisition, Sweco will almost double the size of the building business in Denmark and strengthen its geographical footprint as well as its position as a top engineering and architecture firm in the country.
In Sweden, we strengthened our position in a strategic niche through the acquisition of Medins Havs och Vatten-konsulter. The firm has a turnover of SEK 37 million and 35 experts specialised in surveys of watercourses, lakes and seas. Expertise regarding aquatic environments is vital in the green transition and Sweco is noting increasing demand across Europe from clients in both the private and public sector. This acquisition will make Sweco the leading aquatic environment consulting firm in Sweden.
The demand in the energy segment remains good across all markets. One key area in the energy transition is the redesign and development of energy grids. In the third quarter, Sweco Sweden was commissioned to support Svenska kraftnät with a review and upgrade of the Swedish electricity transmission system. In Germany, Sweco will support the development of the Rhine-Main-Link, a central grid to supply Germany with climate-neutral energy.
Focus on the green transition
Sweco’s role in the green transition in Europe provides a solid foundation for profitable growth. Our strong market position, diversified portfolio and decentralised business model continues to prove its strength in the third quarter. Our focus going forward is to continue taking proactive measures to mitigate challenges in the market, while capturing growth opportunities and improving our efficiency.”
Sweco’s President and CEO Åsa Bergman and CFO Olof Stålnacke will present the report in a web cast and teleconference on October 27, 2023 at 09:00 CEST. The presentation will be held in English. Please go to this page for registration to participate.
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 27-10-2023 07:20 CET.
For further information, please contact:
Olof Stålnacke, Chief Financial Officer, +4670 306 46 21, [email protected] E Olsson, Head of Press, +4670 557 33 26, anna.[email protected] following files are available for download:
Sweco Q3 2023
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Global Methane Hub Announces the Enteric Fermentation Research & Development Accelerator, a $200M Agricultural Methane Mitigation Funding Initiative
The Largest-Ever Globally Coordinated Funding Investment in Livestock Methane Mitigation Research Announced at the COP28 Business & Philanthropy Climate Forum
The public, private and philanthropic partnership includes Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone and more
DUBAI, UAE, Dec. 2, 2023 /PRNewswire/ — Today, at COP28, the Global Methane Hub (GMH) announced a more than $200 million funding initiative between public, private and philanthropic partners including the Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone, the Governments of Ireland, New Zealand and the United States, for research and development (R&D) technologies to meaningfully address and reduce methane emissions from livestock.
The Enteric Fermentation R&D Accelerator, or Accelerator, is the largest-ever, globally coordinated investment of breakthrough research tackling livestock methane emissions. The Global Methane Hub announced the intention to establish the Accelerator at COP27 as an AIM for Climate Innovation Sprint. The Accelerator will unite funders, guided by a science oversight committee, to invest in a globally coordinated research plan. This strategy aims to address gaps in current research and enhance existing efforts. The strategy includes work on exploring new and alternate livestock feed additives, tools to breed low-methane livestock, immunological studies for a methane vaccine, understanding the organisms in the rumen and their functions, and lowering the costs of measurement, essential to generate evidence for regulatory approval and validation of mitigation technologies.
About 40% of the world’s methane emissions come from agriculture, and 70% of that is due to enteric fermentation. This process happens in cows’ digestive systems when sugars are broken down into methane and released through belching. Unfortunately, current research on enteric fermentation is not extensive or coordinated enough to provide efficient and transformative solutions to significantly benefit farmers.
This is the latest milestone to mark the impact GMH is having on global methane reduction efforts since its founding in December 2021.
“The Accelerator is a prime example of the role philanthropy can play in driving substantive climate action and strategically aligning the key players working to solve the most pressing issue of our time,” said Hayden Montgomery, Agriculture Program Director at the Global Methane Hub. “With this effort to synchronize and consolidate public-good research on enteric methane, we aim to make multiple solutions to reduce enteric methane available quickly and provide proof of the efficacy of livestock mitigation technologies.”
“We know that cattle are responsible for most agricultural methane emissions. Promising technological and scientific solutions exist, but for too long, monetary and regulatory barriers have slowed progress and prevented critical research,” said Andy Jarvis, Director of Future of Food at the Bezos Earth Fund. “The Global Methane Hub’s Enteric Methane R&D Accelerator stands to change all of this, unlocking the resources needed to discover and develop low-cost solutions that will dramatically reduce methane emissions from livestock by 2030.”
“Through the Accelerator, we are poised to make a significant impact in driving innovation towards solutions to reduce enteric methane globally,” said Richard Lawrence, director and co-founder of High Tide Foundation. “I would like to thank Danone for stepping up as the first corporation committed to the Accelerator and I encourage others to do the same.”
“As a dairy company, curbing methane emissions is the fastest and most impactful way to slow down global warming,” said Olivier Verdelet, Vice-President Agriculture Cycle at Danone. “To do so, collaboration will be instrumental as we seek for new solutions, speed and sizable impacts. We are eager to collaborate with the Global Methane Hub and other partners to accelerate and test scalable innovations in the field. We believe this will help us build a sustainable, future-fit dairy category that is at the core of our mission to bring health through food to as many people as possible.”
Agricultural methane is projected to increase 40% by 2050. We would have to reduce emissions by 50% in order to meet the accords of the Paris Agreement to keep the global temperature rise to a maximum of 1.5 degrees Celsius. Reducing methane emissions from all sectors, including agriculture, is the fastest way to mitigate climate change.
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Digital Printing for Tableware Market worth $452 million by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 1, 2023 /PRNewswire/ — The Digital Printing for Tableware market is projected to reach USD 452 million by 2029 from USD 326 million in 2024; it is expected to grow at a CAGR of 6.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. Heightened interest in sustainable printing practices, escalating needs within the foodservice sector, swift advancements in digital printing technology, and the accelerated prototyping and assessment of novel designs within the tableware industry are poised to propel the expansion of the Digital Printing for Tableware market.
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Browse in-depth TOC on “Digital Printing for Tableware Market”
140 – Tables60 – Figures240 – Pages
Digital Printing for Tableware Market Report Scope:
Market Revenue in 2024
$ 326 million
Estimated Value by 2029
$ 452 million
Poised to grow at a CAGR of 6.8%
Market Size Available for
Value (USD Million/Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Application, Ink type and Region
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Compatibility with limited materials
Key Market Opportunities
Increasing demand from the in-plant market
Key Market Drivers
Rapid technological advancements in digital printers
This market exhibits a promising growth trajectory, buoyed by prospects like escalating demand from the in-plant market, substantial investment in digital printing-centric research and development endeavors, and the consequent decrease in per-unit printing costs facilitated by digital printers.
The Ceramic and porcelain application segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
In 2023, the Ceramic and porcelain segment held the largest market share, and this pattern is expected to persist in the forecast period. Cutting edge ceramic digital printing technology for the tableware industry is expected to revolutionize the tableware industry during the forecast period. While digital printing for porcelain tableware combines precision and versatility allowing intricate designs to enable growth of the market. Digital printing for ceramic and porcelain tableware products involves the use of advanced printing technology to apply intricate and high-quality designs directly onto ceramic and porcelain surfaces. This modern printing method has become increasingly popular in the tableware industry due to its ability to offer customization, detailed graphics, and efficient production processes.
The UV Ink segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
The use of UV ink in digital printing for the tableware industry is driven by its unique properties and advantages that cater to the specific requirements of decorating and customizing various tableware items, such as ceramics and porcelain. It offers rapid curing, color vibrancy, versatility in design, customization capabilities, durability, efficiency in production, and reduction in waste. Because of such advantages over other inks like ceramic ink, and solvent based ink, the UV ink type is expected to hold the largest market share.
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The North American region is expected to hold the largest market share during the forecast period.
During the forecast period, North America region is poised to experience the most significant growth in the digital printing for tableware market. The surge in consumer appetite for personalized tableware due to digital printing capabilities to deliver unique designs is expected to drive the market growth in the North American region. Also, presence of major companies such as Electronics for Imaging, Inc., Inkcups Now, Boston Industrial Solutions, Inc., and INX International Ink Co., in the North American region enables research and development activities in digital printing technologies benefitting the tableware industry owing to increase in the demand for customization of tableware products across the region.
Key Players Market
SACMI (Italy), Electronics for Imaging, Inc. (US), Inkcups Now (US), Mimaki Engineering Co., ltd. (Japan), Boston Industrial Solutions, Inc. (US), PROJECTA ENGINEERING S.R.L. (Italy), Engineered Printing Solutions (US), INX International Ink Co. (US), KERAjet (Spain), and Dip-Tech Digital Printing Technologies Ltd. (Israel) are key players in the digital printing for tableware companies.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Digital Printing Market Size, Share & Industry Growth Analysis Report by Ink (UV-cured, Aqueous, Solvent, Latex, and Dye Sublimation), Printheads (Inkjet and Laser), Substrate (Plastic Film or Foil, Release Liner, Glass, Textile, Paper, Ceramic), and Geography – Global Growth Driver and Industry Forecast to 2026
Digital Textile Printing Market by Printing Process (Roll to Roll, DTG), Ink Type (Sublimation, Pigment, Reactive, Acid), Application (Textile & Decor, Industrial, Soft Signage, Direct to Garment), and Geography – Global Forecast to 2023
Large Format Printer Market by Offering, Connectivity, Printing Material (Porous, Non-porous), Technology (Ink-based, Toner-based), Print Width, Ink Type, Application (Apparel & Textile, Signage & Advertising, Decor) and Region – Forecast to 2028
Production Printer Market by Type (Monochrome, Color), Technology (Inkjet, Toner), Production Method (Cut Sheet, Continuous Feed, Sheet Fed, and Web Based), Application and Geography – Global Trends & Forecast to 2022
3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology and Region – Global Growth Driver and Industry Forecast to 2028
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Syntax Unveils Expanded CxLink Backup Solution at AWS re:Invent 2023
Leading global solutions provider showcases new product support for Oracle cloud backup and recovery operations and achieves AWS Level 1 MSSP Competency
MONTREAL, Dec. 1, 2023 /PRNewswire/ — Syntax Systems, a leading global technology solutions and services provider for cloud application implementation and management, announced Syntax CxLink Backup solution for Oracle databases at AWS re:Invent 2023. This is a strategic enhancement to its suite of solutions that now supports the Oracle Recovery Manager (RMAN). CxLink Backup addresses a critical need for enterprise customers running Oracle databases, including SAP customers, as Oracle Database underpins more than 60% of SAP ERP Central Component customer implementations and RMAN integration options are limited.
Enterprise teams managing multiple clouds and stores of data, each with their own routine for proper storage, now have access to a cutting-edge tool to simplify backup and recovery processes as well as disaster recovery strategies. With CxLink Backup, customers now have access to several impactful functions that Oracle Recovery Manager fulfills:
Spares users the complexity of managing backup file details because it’s a module that streamlines and automates backup and recovery.Supports various backup types like full, incremental, differential, and image copies.Enhances backup efficiency and minimizes size with features like compression, parallel processing, and multisection.Ensures data security and reliability through validation, encryption, and cataloging of backups, as well as the ability to rectify corruption or errors.Offers flexible data restoration, including options like flashback, point-in-time recovery, and incomplete recovery, which allows recovery to any specific moment.”In today’s fast-paced digital world, backups are critical for enterprise applications,” said Ricardo Casanovas Ortega, VP of Product Innovation at Syntax. “Many enterprise teams are managing these processes from disparate sources and tools. Our latest features for CxLink Backup, unify and automate recovery processes, giving users a powerful tool that enhances reliability while minimizing complexity.”
In addition to revealing new capabilities in its CxLink solution, Syntax also announced its achievement of the Amazon Web Services (AWS) Level 1 Managed Security Service Provider (MSSP) Competency and renewed its status in the AWS Managed Service Provider (MSP) Partner Program. These designations recognize and validate leading AWS Partner Network (APN) members that provide full lifecycle solutions to customers and who have met AWS’s requirements for a baseline of managed security services to protect and monitor essential AWS resources 24/7, known as Level 1 Managed Security Services.
“Syntax is very proud to now be part of the elite AWS Partners who have achieved the AWS Level 1 MSSP Competency,” said Christian Primeau, Global CEO of Syntax. “Our strategy is 3-pronged: operate-to-protect, monitor-to-respond and built-to-recover. We are focused on ensuring the integrity of applications running on AWS and the data they store and process. Achieving this AWS Competency designation is recognition of the work the Syntax team delivers and our growing relationship with AWS, which adds value across our entire portfolio.”
The Syntax portfolio offers a wide range of AWS solutions as an AWS Premier Tier Services Partner. Syntax previously achieved the AWS SAP Competency, AWS Oracle Competency, and AWS Migration Competency, and AWS MSP Partner designations and is a member of the AWS Well-Architected Partner Program.
About Syntax Syntax provides comprehensive technology solutions and trusted professional, advisory, and application management services to power businesses’ mission-critical applications in the cloud. With 50 years of experience and 800+ customers around the world, Syntax has deep expertise in implementing and managing multi-ERP deployments in secure private, public, hybrid, or multi-cloud environments. Syntax partners with SAP, Oracle, JD Edwards, AWS, Microsoft, and other global technology leaders to ensure customers’ applications are seamless, secure, and at the forefront of enterprise technology innovation. Learn more about Syntax at www.syntax.com.
Contact:Walker Sands for [email protected]
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- Global Methane Hub Announces the Enteric Fermentation Research & Development Accelerator, a $200M Agricultural Methane Mitigation Funding Initiative
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