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Sector Review SECTOR REVIEW DECEMBER 2014 The Consulting Engineering and Architectural Groups A Swedish and International survey IN CO-OPERATION WITH The Danish Association of The Icelandic Association of Consulting Engineers Consulting Engineers Association of Consulting The Finnish Association of RÅDGIVENDE INGENIØRERS FORENING Engineers, Norway Consulting Firms The Association of Finnish Architects’ Offices Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2014 1 2 Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2014 Contents Foreword by the Association’s THE NORDIC MARKET 25 THE INTERNATIONAL chairman 5 MARKET 49 Nordic comparison of key An “infrastructure push” could business ratios 26 International development 50 speed up recovery 6 The 100 largest architectural The world’s 10 largest groups 50 THE SWEDISH MARKET 8 groups in the Nordic area 27 Listed consultancies in the West Sector development 2013 FRI – The Danish market 29 – a comparison 51 and 2014 8 Denmark’s 100 largest groups 32 Europe’s 50 largest Sector development by sectors 9 RIF – The Norwegian market 34 architectural groups 52 Swedish structural deals 13 Norway’s 100 largest groups 38 Europe’s 300 largest groups 53 Key business ratios for the largest FRV – The Icelandic market 40 Swedish consulting firms 14 Iceland’s 15 largest groups 42 The 50 largest architectural groups 16 SKOL – The Finnish market 43 The 50 largest groups in industrial ATL – The Finnish market 45 engineering 17 Finland’s 100 largest groups 47 The 30 largest groups in Sweden 18 Sweden’s 300 largest groups 19 Frankfeldt Grafisk Form AB JNG Ainscough HB, translations The pictures on the cover were provided by Semcon; Ineko Stockholm 2014 semcon.com. Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2014 3 The Sector Review The Sector Review has been published by the Swedish Federation of Consult- ing Engineers and Architects (STD-företagen) since 1995. It is a compilation of the architectural, engineering consultancy and industrial consultancy sectors in Sweden, the Nordic countries and Europe. The Review presents ranking lists of the largest corporate groups on the respective markets, interesting key business ratios, news about structural transactions and information on the development and economy within the sector over the past year. Since 2005, STD-företagen’s counterparts in the neighbouring Nordic countries have contributed to the Review. STD-företagen represents architects, engineering consultants and industrial engineering consultants, whereas the Nordic organisations only represent engineering consultants and, in certain cases, industrial engineering consultants. The organisations that participate in this cooperation are FRI in Denmark, RIF in Norway, SKOL and ATL (Architectural association) in Finland and FRV in Iceland. The figures in the Review are based on the latest available data that we have been able to find on the respective firms. For just over half the firms the review is equivalent to a calendar closing for 2013. The remaining firms have split financial years. In most cases, we have received their annual reports for 2013/14. However, some annual accounts were not ready when work on the collection of basic data came to an end, for example for those companies whose annual accounts close at the end of August. In these cases, we have retained the same figures as for 2012/13. For the sake of simplicity, we refer to the compiled figures that applied for 2013. The corporate information in the Review has been acquired via the databases Soliditet (Sweden) and Factiva Dow Jones Companies & Executives (Europe), from the Nordic organisations, direct from companies or via the companies’ home pages. The monitoring covers some 1,500 companies in Sweden, the Nordic Area and Europe. Collecting the information is an extensive and time- consuming task, and in some cases it is impossible to obtain reliable informa- tion. The information on the international companies is more difficult to access. In Sweden, annual reports are public documents. This is not the case in all countries, and many firms are loath to disclose their figures. In these cases, we use the most recent material we can find. Consequently, all companies that appear in – or should appear in – the Review are requested to contact STD- företagen and to submit their details in order to make sure that the informa- tion published on them is correct. We would in particular like to thank those companies that have helped us by submitting their annual reports. Swedish Federation of Consulting Engineers and Architects 4 Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2014 An expanding sector in a global environment Globalisation continues to influence our sector and our business segments a little more for each day that passes. It means that the sector is becoming increasingly more nationalised and that more and more companies are turning their attention to the Swedish market. The changes that are taking place on the Swedish market are driven by the fact that the Swedish economy is relatively strong in comparison to the economies of many other countries. The fact that the Swedish economy is relatively strong is also reflected in the develop- ments that are taking place among our member companies. Our market report, Investment Signals from November 2014, shows that the recovery among Svenska Teknik&Designföretagen (Swedish Federation of Consulting Engineers and Architects; STD-företagen) member firms is continuing and that they are enjoying a period of positive development. The companies also believe in continued positive development in 2015. In the case of engineering consultancies on the industrial side, the order situation is reported to be improving for the fourth member survey in succession. Those firms that are active in the building and civil engineering sector are experiencing a temporary slowing down, but the belief in the future remains strong, and according to the member firms the building sector is continuing to expand. Sweden will be investing substantial resources in its infrastructure during the coming years. Over the period 2014 to 2025, the Swedish government intends, according to the current National Transport Plan, to invest SEK 522 billion in infrastructure. The size of this investment is naturally also of interest to foreign companies and will encourage them to turn their attention to the Swedish market. We also see a trend indicating how the Swedish market is changing. In the year 2000, there were only three foreign-owned companies among the 50 largest companies on the Swedish market. This year, 19 of the 50 largest companies on the Swedish market are foreign- owned. Swedish firms, of course, are also active on foreign markets. STD-företagen is the sectoral and employers’ organisation for a growing sector. The turnover for the sector in 2014 is expected to increase by approximately SEK 1 billion and the number of employees has increased by some 1,000 employees compared with the previous year. This means in terms of figures that the sector is expected to have a turnover of SEK 62 billion and to have a total of 54,000 employ- ees in 2014. The forecast for 2015 indicates approximately the same nominal growth index as for 2014. The sector organisation has 715 member companies and with a total of approximately 35,000 employees, STD-företagen represents a little over two-thirds of the sector’s overall resources. STD-företagen member companies are an important part of both the urban and ru- ral develop ment segment as well as the continued development of industry. Through their knowledge, consultants contribute to research, development and the rationali- sation work that is being conducted within both the Swedish business community and Swedish society. The Sector Review is distributed to the member companies of STD-företagen as well as to the other companies that take part in the survey. It is also distributed to influential client companies, journals, economic forecasters, corporate analysts, etc. as well as to Swedish embassies and export offices. This English version of the review is distributed to other Nordic organisations and to those foreign companies that take part in our survey, as well as to international development banks, development organisations and administrations within the EU and to international journals. The Sector Review is dependent for its existence on participation from a large number of companies both within and outside Sweden. I should therefore like to especially thank all those contributors who have helped to make this review possible. Markus Granlund Chairman of the Swedish Federation of Consulting Engineers and Architects Managing Director and CEO of Semcon AB Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2014 5 An “infrastructure push” could speed up recovery Following a two-year weakening in the Swedish economy, the economic situation began to improve initially for the private service sector after summer 2013, but as far as Swedish exports and industry are concerned, development has so far moved side- ways. This is because growth in export markets that are important for Sweden has been extremely slow up to now. The factor that has nevertheless managed to increase production levels in the service sector is primarily a result of increased household consumption and a growth in housing investments. Following a two-year weakening in the with a need for improved infrastructure Swedish economy, the economic situation and an upgrading of existing facilities, began to improve initially for the private the time is now ripe for an “infrastruc- service sector after summer 2013, but as ture push”, in that borrowing rates are far as Swedish exports and industry are currently low and the demand is weak concerned, development has so far moved in developed economies. There is also a sideways. This is because growth in export significant need to upgrade the infrastruc- markets that are important for Sweden ture in a large number of developing and has been extremely slow up to now.
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