Engineering consultancy Afry reported first-quarter revenue in line with expectations, while operating profit saw a decline.
Net sales fell 6.3 percent to SEK 6,325 million (6,749), compared with a Bloomberg analyst consensus of SEK 6,443 million. Organic sales growth stood at -4.3 percent (-0.9).
EBITA amounted to SEK 426 million (459), yielding an EBITA margin of 6.7 percent (6.8).
Adjusted EBITA came in at SEK 473 million (490), missing the anticipated SEK 504 million, with an adjusted EBITA margin of 7.5 percent (7.3).
Operating profit reached SEK 391 million (416), resulting in an operating margin of 6.2 percent (6.2).
Net income for the period was SEK 240 million (251).
AFRY AB, formerly AF Poyry AB, is a Sweden-based consulting, engineering and design company active mainly in the fields of energy, industry and infrastructure. The Company’s activities are structured into five divisions: Infrastructure, Industrial and Digital Solutions, Process Industries, Energy, and Management Consulting. The Company's Industrial and Digital offering includes product development, production automation and information technology solutions within the automotive, telecommunications, defense and security, food processing, pharmaceutical, forestry, mining, and oil and gas sectors. In the field of Energy, the Company provides engineering and consulting services in the areas transmission and distribution, as well as power plants for all kinds of energy sources. The Company also provides management and design for infrastructure projects covering roads, railways and buildings. The Company operates worldwide.
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