Q1: -2% organic sales y-o-y, adj. EBITA margin of 7.3% (8.0%)
Projektengagemang (PE) reported Q1 net sales of SEK 246m (-2% y-o-y) and EBITA of SEK 12.7m (20m). It was 3% and 25% below ABGSCe, however, adjusted for a settlement cost to Soleed Sweden AB of SEK 5.2m, adj. EBITA was SEK 17.9m and 5% above ABGSCe. In terms of business areas, tough conditions in Architecture & Management resulted in negative organic growth and declining profitability, whereas Systems continued to recover and reported organic growth of 5.3% with increasing profitability. Civil Engineering & Environment were flat y-o-y organically with solid profitability, albeit lower than last year. FCF of SEK 44m (1m) was strong in Q1 driven by one-time tax benefits, as a result net debt decreased to SEK 250m (292m).
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