PE continued to deliver improved earnings in the third quarter compared with the previous year. EBITA for the quarter was SEK 2 million (-22), despite challenging market conditions. The improvement in earnings is consistent with our long-term strategic initiative launched in 2019 to improve the margins. Net revenue declined to SEK 220 million (269) in the quarter as a result of restructuring work and the impact of Covid-19.

Third quarter, 1 July-30 September 2020

· Net revenue totalled SEK 219.5 million (269.0)
· EBITA increased to SEK 2.3 million (-22.2) and the EBITA margin rose to 1.1 percent (-8.3)
· EBIT totalled SEK -2.5 million (-25.0) and the operating margin was -1.1 percent (-9.3)
· Earnings for the period amounted to SEK -3.1 million (-23.0)
· Earnings per share for the period were SEK -0.13 (-0.93) There is no dilution effect
· PE's Board of Directors has appointed Helena Hed as the new President and CEO

1 January-30 September 2020

· Net revenue totalled SEK 880.6 million (1,001.0)
· EBITA increased to SEK 62.2 million (7.4) and the EBITA margin was 7.1 percent (0.7)
· EBIT increased to SEK 51.7 million (1.6) and the operating margin rose to 5.9 percent (0.2)
· Earnings for the period totalled SEK 31.0 million (-6.6)
· Earnings per share for the period were SEK 1.28 (-0.26) There is no dilution effect

You will find the full report here. (https://www.projektengagemang.se/en/ir/financial-reports)

Webcasted conference call:
At 09.00 CET there will be a webcasted conference call in which Per-Arne Gustavsson, CEO, and Peter Sandberg, CFO, will present the report. The presentation will be held in Swedish and it will be followed by a question and answer session.

Link to the webcast:
https://tv.streamfabriken.com/projektengagemang-q3-2020 
 

This is a translation of the Swedish original. The Swedish text is the binding version and shall prevail in the event of any discrepancies.

THIS INFORMATION IS INFORMATION THAT PROJEKTENGAGEMANG SWEDEN AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THIS INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSONS, AT 07:30 CET 5 NOVEMBER 2020.

For further information please contact:
Per-Arne Gustavsson, CEO
Phone: +46 10-516 00 00
E-mail: per-arne.gustavsson@pe.se

Peter Sandberg, CFO
Mobile: +46 10-516 03 67
E-mail: peter.sandberg@pe.se

Arvid Linder, Head of Communications
Mobile: +46 70 779 58 98
E-mail: arvid.linder@pe.se

About PE
PE is one of Sweden's leading engineering and architecture consulting firms. As urban planners, we create innovative and sustainable solutions shaping the development of cities, infrastructure and industry. We are represented throughout Sweden, and in 2019 we generated sales of just over SEK 1.3 billion. PE was founded in 2006 and is listed on Nasdaq Stockholm. Find out more at www.pe.se.

https://news.cision.com/projektengagemang/r/significant-improvement-in-earnings-in-third-quarter,c3231611

https://mb.cision.com/Main/13544/3231611/1330802.pdf

https://mb.cision.com/Public/13544/3231611/be457fec1950b21b.pdf

https://news.cision.com/projektengagemang/i/per-arne-gustavsson,c2846829

(c) 2020 Cision. All rights reserved., source Press Releases - English