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Q2 2012 Presentation17 July, 2012

Mats Wäppling, President and CEOJonas Dahlberg, CFO

Bo Jansson, Senior Vice President

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Highlights H1 2012• Continued strong growth and solid profitability

• Sweco Sweden and Sweco Finland best performers

• Underlying margin improvement when adjusting for calendar effect

• Increased demand during the period, but increased probability for slowdown in some segments

• Well positioned for continued profitable growth

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Interim report April − June 2012

• Net sales amounted to SEK 1,943.1 million (1,506.7).

• Operating profit of SEK 149.6 million (128.0)

• Operating margin of 7.7 per cent (8.5)

• Profit after tax of SEK 121.5 million (92.5) and earnings per share of SEK 1.32 (1.01)

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Interim report January − June 2012

• Net sales amounted to SEK 3,852.7 million (2,927.4)

• Operating profit of SEK 380.9 million (264.6)

• Operating margin of 9.9 per cent (9.0)

• Profit after tax of SEK 286.0 million (189.6) and earnings per share of SEK 3.11 (2.08)

• Net debt of SEK 509.0 MSEK (74.6)

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Income statementApr-Jun Apr-Jun Jan-Jun Jan-Jun Jul 2011- Full year

SEK M 2012 2011 2012 2011 Jun 2012 2011Net sales 1,943.1 1,506.7 3,852.7 2,927.4 6,912.9 5,987.6Other external expenses -459.2 -358.2 -876.8 -684.0 -1,697.9 -1,505.1

Personnel costs -1 297.2 -994.2 -2,523.6 -1,929.5 -4,435.7 -3,841.6Amortisation/depreciationand impairment losses -37.1 -26.3 -71.4 -49.3 -131.7 -109.6Operating profit 149.6 128.0 380.9 264.6 647.6 531.3Net financial items 2.7 -1.8 -3.5 -3.9 -4.1 -4.5Profit before tax 152.3 126.2 377.4 260.7 643.5 526.8Income tax expense -30.8 -33.7 -91.4 -71.1 -172.3 -152.0Profit for the period 121.5 92.5 286.0 189.6 471.2 374.8

Operating margin 7.7 8.5 9.9 9.0 9.4 8.9Billing ratio 75.1 74.0 74.5 73.5 74.4 73.9

Basic EPS 1,32 1,01 3.11 2.08 5.14 4.11Diluted EPS 1,32 1,01 3.11 2.08 5.14 4.11

April - June• Net sales growth +29%

– of which organic 10% and acquired 19%

• Operating profit +17%• Best performer

Sweco Finland• Working hours 462 (471)

Jan - June• Net sales growth 32%

– of which organic 14% and acquired 18%

• Operating profit +44%• Best performer

Sweco Sweden• Working hours 972 (973)

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Operating profit rolling 12 month

050

100150200250300350400450500550600650

SEK M

Quarterly profit Rolling 12 months

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Balance sheet• Net debt/equity ratio

of 33.1% (5.5)

• Equity/assets ratio of 31.7% (42.1)

• Disposable cash and unutilized bank overdraft facilities of SEK 813.8 million (646.0)

• Net debt SEK 509.0million (74.6)

SEK M 31 Jun 2012 31 Jun 2011 31 Dec 2011Goodwill 1,453.4 798.0 907.5Other intangible assets 168.3 85.8 88.3Tangible assets 257.8 214.9 230.8Financial assets 43.0 64.7 34.5

Current assets excl. cash and cash equivalents 2,594.9 1,927.0 1,776.1Cash and cash equivalents 335.9 155.9 219.6Total assets 4 853.3 3,246.3 3,256.8Equity and reserves attributable to equity holders in the Parent Company 1,522.2 1,355.6 1,493.2Non-controlling interest 18.1 9.6 10.5Total equity 1,540.3 1,365.2 1,503.7Long-term liabilities 851.7 170.5 192.3Current liabilities 2,461.3 1,710.6 1,560.8Total equity and liabilities 4,853.3 3,246.3 3,256.8Pledged assets 28.4 16.8 -Contingent liabilities 225.8 195.8 207.7

Equity/assets ratio, % 31.7 42.1 46.2Net interest-bearing liabilities, SEK M -509.0 -74.6 140.9Net debt/Equity, % 33.1 5.5 -9.4Net debt/EBITDA, % 0.7 0.1 -0.2

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Cash flow

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full yearSEK M Jul 2011-2012 2011 2012 2011 jun 2012 2011

Cash flow from operating activities before changes in working capital and paid tax 176.5 151.9 428.4 310.5 775.6 657.7Paid tax -50.1 -59.3 -142.9 -119.8 -161.7 -138.6Changes in working capital 22.3 -11.9 -57.2 -110.7 47.4 -6.1Cash flow from operating activities 148.7 80.7 228.3 80.0 661.3 513.0Cash flow from investingactivities -69.1 -80.2 -571.8 -122.2 -762.5 -312.9Cash flow from financingactivities -171.2 -200.6 464.6 -182.2 290.9 -355.9

Cash flow for the period -91.6 -200.1 121.1 -224.4 189.7 -155.8

• Strong operating cash flow and solid cash conversion ratio

• Cash consideration of SEK 528,3 million paid for acquisitions during H1, mainly related to acquisition of FMC

• Dividends of SEK 274,0 million paid during Q2

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Sweco SwedenHighlights

• Strong organic growth

• Best performer January − June, operating margin 11.4%

• Overall demand increase throughout the period

• Increased probability for slower development in some segments

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 1,013.8 923.3 2,044.7 1,793.0

Operating profit, SEK M 94.7 113.6 233.2 219.7

Operating margin, % 9.3 12.3 11.4 12.3

# of Employees end of period 3,329 3,055

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Sweco NorwayHighlights

• Strong growth and profitability improvement

• Operating profit up 64% January − June

• Strong growth Q2: +29%

• Continued strong market and improved billing ratio

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 438.2 339.5 910.7 688.9

Operating profit, SEK M 20.2 16.4 88.6 54.0

Operating margin, % 4.6 4.8 9.7 7.8

# of Employees end of period 1,100 960

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Sweco FinlandHighlights

• Best performer Q2, operating margin 11.4%

• FMC Group in line with expectations

• Overall stable market

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 259.3 23.9 415.3 44.0

Operating profit, SEK M 29.5 2.9 45.3 4.8

Operating margin, % 11.4 12.0 10.9 10.9

# of Employees end of period 1,336 68

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Sweco Central & Eastern EuropeHighlights

• Net sales growth January − June 16%

• Overall unchanged market situation

• Continued difficulties to increase prices

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 68.1 60.8 134.5 115.7

Operating profit, SEK M 1.7 0.6 4.3 -2.6

Operating margin, % 2.4 1.1 3.2 -2.2

# of Employees end of period 884 863

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Sweco RussiaHighlights

• Significantly weakened market for infrastructure

• Improvement expected second half of 2012

• Long-term fundamentals remain strong

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 27.2 27.1 59.7 32.2

Operating profit, SEK M -3.0 1.7 -5.8 1.4

Operating margin, % -11.1 6.2 -9.7 4.4

# of Employees end of period 323 379

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Sweco IndustryHighlights

• Strong growth and improved profitability

• Finnish market continues to improve

• Need for additional recruitment

• Stable development in Norway and Sweden

Apr-Jun 2012 Apr-Jun 2011 Jan-Jun 2012 Jan-Jun 2011

Net sales, SEK M 191.9 157.3 384.7 301.8

Operating profit, SEK M 12.1 3.8 33.3 6.8

Operating margin, % 6.3 2.4 8.7 2.3

# of Employees end of period 707 657

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1515

Market outlookTrend Segment Share of net sales

Infrastructure

Structural Engineering

Water & Environment

Energy systems

Building Service Systems

Industry

Architecture

Project Management

Geographic IT

16%

16%

14%

14%

14%

10%

8%

6%

2%

• Overall robust market situation

• Increased probability for slower development in some segments

• Long-term drivers and trends:- Environmental awareness- Urbanization- EU expansion

• Sweco’s home markets has stronger GDP growth and healthier public finances than the European average

• Well positioned for continued profitable growth