Sector Review 2013
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SECTOR REVIEW DECEMBER 2013 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 The Finnish Association of RÅDGIVENDEAssociation INGENIØRERS FORENING of Consulting Engineers, Norway Consulting Firms Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2013 1 2 Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2013 Contents Foreword 5 THE SWEDISH MARKET 6 THE NORDIC MARKET 25 THE INTERNATIONAL MARKET 47 Recovery commences in low gear 6 Nordic comparison of key International development 48 business ratios 26 Sector development 2012 The world’s 10 largest groups 48 and 2013 8 The 100 largest architectural Listed consultancies in the West groups in the Nordic area 27 Swedish corporate events 13 – a comparison 49 FRI – The Danish market 29 Key business ratios for the largest Europe’s 50 largest Swedish consulting firms 14 Denmark’s 100 largest groups 32 architectural groups 50 The 50 largest architectural groups 16 RIF – The Norwegian market 34 Europe’s 300 largest groups 51 Norway’s 100 largest groups 38 The 50 largest groups in industrial engineering 17 FRV – The Icelandic market 40 The 30 largest groups in Sweden 18 Iceland’s 16 largest groups 42 Sweden’s 300 largest groups 19 SKOL – The Finnish market 43 Finland’s 100 largest groups 45 Cover photo: The cover photo shows the entrance to the Emporia Shopping Centre in Malmö, which opened in October 2012. The centre was designed by Wingårdh Arkitekter and has over 200 shops, Frankfeldt Grafisk Form AB restaurants and cafeterias on three storeys, and on a floor area of 93 000 m2. JNG Ainscough HB, translations Ineko Stockholm 2013 The photo was taken by Leif Johansson from X-Ray foto in Malmö. Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2013 3 The Sector Review The Sector Review has been published by the Swedish Federation of Consulting Engineers and Architects (STD-företagen) since 1995. It is a compilation of the architectural, engineering consultancy and indus- trial 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. In Finland and Iceland, architectural firms also take part in collaboration on the Sector Review. The organisations that participate in this cooperation are FRI in Denmark, RIF in Norway, SKOL 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 2012. The remaining firms have split financial years. In most cases, we have received their annu- al reports for 2012/13. 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 2011/12. For the sake of simplicity, we refer to the compiled figures that applied for 2012. The corporate information in the Review has been acquired via the data- bases 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 compa- nies in Sweden, the Nordic Area and Europe. Collecting the information is an extensive and time-consuming task, and in some cases it is impos- sible to obtain reliable information. 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 (Swedish Federa- tion of Consulting Engineers and Architects) and to submit their details in order to make sure that the information 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 2013 Foreword Svenska Teknik&Designföretagen (the Swedish Federation of Consulting Engineers and Architects), or STD-företagen, is a sectoral and employers’ organisation for some 715 architectural, engineering and industrial consulting firms in the construction and industrial sectors. With a total of some 35 000 employees, STD-företagen represents a little over two-thirds of the sector’s overall resources. STD-företagen’s member firms play an important role in the development of society with respect to all types of building and urban development. This applies in particular to those segments that are of particular importance to society, namely the infrastructure, environment and cli- mate systems, energy and nature, as well as new products and processes for industry, etc. Our members are concerned with innovations, the construction of new buildings and structures, conversion works, maintenance and efficiency improvement schemes. Project managers, architects, engineering and industrial consultants investigate, plan, design and participate on the Swedish market in the development of fixed investments and products worth approximately SEK 360 billion per year. As a consequence, the sector influences the development of some 10% of the country’s GNP, and STD’s member firms are involved in creating lasting values. STD-företagen – with their predecessors SKIF, SPA and AI-företagen – celebrated their 100-year anniversary in 2010. We are now entering a new era, accompanied by numerous opportunities and challenges. In particular, globalisation is influencing companies with the potential for increased service exports. But at the same time it imposes challenges on the domestic market, with greater competition from abroad. The sector will also continue to face new challenges when it comes to both the recruitment of employees as well as procurement and project forms. Competition, and in particular international competition, is increasing – and consequently the de- mand to rationalise all forms of production. The capacity of the sector for improved efficiency will become a decisive factor. The sector must focus on customer benefit and improve the efficiency of its cooperation with market players. STD-företagen thus have an important part to play in the continued growth of both the community development sector and industry. Through their knowledge, consultants contribute to both R&D and rationalisation activities. The work of STD-företagen is focused on encouraging the sector to increase its efforts to create a society that is sustainable in the long term. 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 influen- tial client companies, journals, economic forecasters, corporate analysts, etc. as well as to Swedish embassies and export offices. This English version of the review is distrib- uted 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. We should therefore like to especially thank all those contributors who have helped to make this review possible. Stockholm, December 2013 Inger Lindberg Bruce Scheiwiller Svensson Arkitektkontor AB Chairman of the Swedish Federation of Consulting Engineers and Architects Sector Review • The Swedish Federation of Consulting Engineers and Architects • December 2013 5 Recovery commences in low gear Following a recession over the past two years, the turn- ing-point came during the third quarter this year, when the private service sector, which is so important to the Swedish economy, began to improve. This also explains why Sweden’s overall production, its GNP, also showed a certain degree of recovery compared with the previous quarter. The upturn, however, was extremely weak. Development within the service sector to decline, and in fact – according to the is divided, since companies that make responses received from companies in a significant contribution to Sweden’s the barometer survey conducted by the export production are being affected National Institute of Economic Research by the continued weak demand on – even started to drop this year. Howev- Sweden’s largest export markets. The er, the situation improved in September turnaround for service production