DECEMBER 2019 - A Swedish, Nordic and International Survey of The Consulting Engineering and Architectural Groups - Burckhardt+Partner
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A REPORT FROM THE FEDERATION OF SWEDISH INNOVATION COMPANIES DECEMBER 2019 XXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXX A Swedish, Nordic and International Survey of The Consulting Engineering and Architectural Groups
KEY FIGURES 2018 (2017)
94.5 billion
The sector turnover in Sweden was SEK 94.5 billion (SEK 86 billion)
8
percent
The increase in turnover was 8 % compared to 2017¹
26.5 billion
Swedish groups generated revenues of SEK 26.5 billion
in subsidiaries abroad (SEK 17.4 billion)
72 700
employees
The industry had a total of 72700 employees
in Sweden (66 200)
7
percent
Personnel growth was 7 % compared to 2017²
22 400
employees
Swedish groups employed 22400 persons
in subsidiaries abroad (16000)
11 200
companies
The industry consisted of some 11200 companies in Sweden
SEK
1 324k Turnover per employee was SEK 1324k (1218k) *
7.1
percent
The average operating margin (EBITA) was 7.1% (7.4%) *
6.9
percent
The average profit margin (EBT) was 6.9% (7.1%)
5.1
percent
The average net margin was 5.1% (4.7 %)
34
percent
The share of women within the industry was 34% (35%)
1
In this year’s review, companies with a collective turnover of SEK 1.3 billion have been added to the survey. Therefore, the real growth rate is 8% and not 10%.
2
In this year’s review, companies that collectively employ 1800 persons have been added to the survey. Therefore, the real growth rate is 7% and not 10%.
*The key figures are calculated from the figures of the 300 largest firms, that jointly represent 79% of the industry’s total turnover and 77% of all personnel within the industry.
THE SECTOR CONTENTS
REVIEW
The Sector Review has been published by About Innovationsföretagen 4
Innovationsföretagen (Federation of Swedish
Foreword by Magnus Höij,
Innovation Companies), formerly Svenska
Director General Innovationsföretagen, 5
Teknik&Desigföretagen (the Swedish Federation of
Consulting Engineers and Architects) since 1995. Member company activities 6
It is a compilation of the architectural, engineering
consultancy and industrial consultancy sectors in THE SWEDISH MARKET 8
Sweden, the Nordic region and Europe. The Review
presents ranking lists of the largest corporate Sector development 2018 and 2019 8
groups on the respective markets, interesting key Development by sectors 9
business ratios, news about structural transactions Interview, Erik Landgren, Kiwa Inspecta 13
and information on the development and economy
within the sector over the past year. A comparison with other consulting industries 14
Since 2005, Innovationsföretagen’s counterparts Interview, Sara Lindmark, i3tex 15
in the neighbouring Nordic countries have contribu- Key figures for the largest
ted to the Review. The organisations that participate Swedish consulting groups 16
in this report are FRI in Denmark, RIF & Arkitektbe-
Interview, Charlotte Bergman, ELU Konsult 17
driftene (the architectural association) in Norway,
SKOL & ATL (the architectural association) in Finland The 50 largest architectural groups 18
and FRV & Samark (the architectural association) on The 50 largest industrial consultancies 19
Iceland.
Interview, Per-Henrik Johansson, Liljewall 20
The figures in the Review are based on the latest
available data that we have been able to find on the Swedish structural deals 25
respective firms. For more than half the firms, figures Interview, Viktor Svensson, Rejlers 26
presented correspond to annual reports for 2018. The 30 largest groups in Sweden 27
The remaining firms have split financial years. In
most cases, we have received their annual reports Sweden’s 300 largest groups 28
for 2018/19. We report figures from last available
annual report. In some cases those are 2017/2018. THE NORDIC MARKET 34
For the sake of simplicity, we refer to the compiled
Nordic comparison of key figures 36
figures as for 2018.
The corporate information in the Review has been The 10 largest groups in the Nordic region 37
acquired via the databases Soliditet (Sweden) and The 50 largest architectural
Factiva Dow Jones Companies & Executives (Eu- groups in the Nordic region 38
rope), from the Nordic organisations, directly from
FRI – the Danish market 39
companies or via the companies’ home pages. The
survey covers some 2,000 companies in Sweden, Interview, Søren Adamsen, COWI 42
the Nordic region and Europe. Collecting the infor- Denmark’s 100 largest groups 44
mation is an extensive and time-consuming task, RIF – the Norwegian market 46
and in some cases it is impossible to obtain reliable
information. The information on the international Interview, Geir Syrtveit, ViaNova 47
companies is more difficult to access. In Sweden, Interview, Grete Bergly, Multiconsult 48
annual reports are public documents. This is not the AB – the Norwegian architectural market 51
case in all countries, and many firms are reluctant
Norway’s 100 largest groups 54
to disclose their figures. In these cases, we use the
most recent material we can find. Consequently, all FRV & SAMARK – the Icelandic market 56
companies that appear in – or should appear in – the Interview, Sveinn Ingi Ólafsson, Verkis 57
Review are requested to contact Innovationsföreta-
Iceland’s 25 largest groups 58
gen and to submit their details in order to make sure
that the information published on them is correct. SKOL – the Finnish market 59
We would like to thank those companies that Interview, Jyrki Keinänen, AINS Group 60
have helped us by submitting their annual reports or ATL – the Finnish architectural market 62
figures!
We would especially like to thank Charlotte Interview, Kalle Euro, ATL 62
Bergman (ELU Konsult), Sara Lindmark (i3tex), Erik Finland’s 100 largest groups 64
Landgren (KIWA Inspecta), Per-Henrik Johansson
(Liljewall), Viktor Svensson (Rejlers), Søren Adamsen
(Cowi), Grethe Bergly (Multiconsult), Geir Syrtveit (Vi-
THE INTERNATIONAL MARKET 66
aNova Plan og Trafikk), Sveinn Ingi Ólafsson (Verkis), Cover photo: The reconstruction of the International development 68
Jyrki Keinänen (A-Insinöörit) for their contributions to National mueseum in Stockholm won the Profit margin development,
the report through the interviews! ROT-prize (for reconstruction projects)
Europe’s 200 largest groups 68
and the Steel building prize. Designed by
Wingårdhs and Tengbom architects World’s 10 largest groups 68
Photo: Linn Ahlgren, Nationalmuseum. Listed consultancies – a comparison 69
DAVID CRAMÉR
CHIEF ANALYST AND RESPONSIBLE FOR THE Europe’s 50 largest architectural groups 70
Innovationsföretagen in cooperation with
S ECTOR REVIEW AT INNOVATIONSFÖRETAGEN Europe’s 200 largest groups 71
Pär Ek Grafisk Form (Graphic design).
david.cramer@innovationsforetagen.se
+46 8 762 67 02 Printing: Brandfactory Stockholm 2019
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019 3
THE FEDERATION
OF SWEDISH INNOVATION
COMPANIES
The Federation of Swedish Innovation a need for a new narrative on the sector.
Companies (Innovationsföretagen) is an Since 1 January 2019, the Federation of
employer and sector-oriented organi- Swedish Innovation Companies has been 1
sation that represents the interests of a separate association within Almega
innovative companies in the knowledge- and Svenskt Näringsliv (Confederation of
intensive service sector. We represent the Swedish Enterprise), which clarifies our
interests of some 720 member firms that role as an employer organisation and our
together have some 39 000 employees. involvement in supporting the member
It is our task to create the preconditions companies in agreement developments
necessary for a world-leading architec- and ongoing labour law issues.
tural and engineering sector.
The Federation of Swedish Innova- Business operations
tion Companies is part of Almega, which As a sector and employer organisation, we
is Sweden’s foremost organisation for work for greater visibility and competitive-
service firms and the largest association ness for the sector with the aim of creat-
within Svenskt Näringsliv, (Confederation ing the best possible preconditions for
of Swedish Enterprise) which both deals innovation and for our member companies.
with the preconditions for the service We serve as a mouthpiece for our mem-
sector and the business community in bers and drive questions relating to sector
general as well as Sweden’s competitive development through information, debate
3
standing in the world. and dialogue with politicians and other
We are members of several interna- decision-makers. Among the important is-
tional sector organisations: FIDIC and sues facing us are research and innovation,
EFCA, the respective global organisa- competence provision, balanced terms and
tions for engineering consultants, and conditions, skilled public procurement,
ACE – the European sector organisation sustainability and continued digitalisa-
for architectural organisations. We also tion. We support our members in employer
participate in the Nordic networks for in- questions, offer competitive collective
dustry associations RiNord, for consulting agreements, attractive insurance schemes,
engineers, and Nordiskt Praktikermöte, relevant forms of training and seminars,
for architectural organisations. and publish practical handbooks. Through
us, member companies also acquire a valu-
Name change and federation able network of sector colleagues, experts
5
establishment and leading labour law specialists.
Innovationsföretagen (The Federa-
tion of Swedish Innovation Companies) Focus areas for 2020
is the new name for the organisation During 2020 we will prioritise the following
that was previously known as Svenska areas:
Teknik&Designföretagen (the Swedish Improved visibility for Sweden’s innova-
Federation of Consulting Engineers and tion- and design-oriented firms.
Architects). The name was changed in Balanced terms and conditions, includ-
January and adopted at the Federation’s ing standard agreements and public
Annual General Meeting in April 2019. procurement.
The change in name signals a clear Education and competence develop- 7
desire to focus on the value creation of the ment.
member companies and on the contribu- A renewed collective agreement and the
tion made to both clients and society. Much long-term development of the negotia-
of the work conducted by the members tion process.
of the Federation is founded on creativity, Improved value proposition for our
problem solving and innovation, based member companies.
on a profound knowledge of technology,
design, social development and cultures. Address: Sturegatan 11
The basic starting point for the name Box 55545
change is a sector in a state of change. SE-102 04 Stockholm
The roles that have been traditionally held Phone: +46 8 762 6700
by architects and engineering consultants E-mail: info@innovationsforetagen.se 9
are rapidly changing and are also creating Website: Innovationsforetagen.se
4
FOREWORD
Magnus Höij,
Director General of the Federation
of Swedish Innovation Companies
THE SECTOR
REVIEW 2019
REFLECTS
AN INDUSTRY
UNDERGOING
CONTINUED
Federation staff
1 Anders Persson, Business Policy
GROWTH
Manager
2 David Cramér, Chief Analyst This can be seen partly from our figures:
2 3 Eskil Sellgren, Consultant, membership has grown over a long period of
Construction group time in terms of both number of employees and
4 Hanna Byström, Head of turnover.
Negotiations However, equally important is the in-
4
5 Helena Arvidsson, Federation creasingly advanced position that many of our
Assistant, Project Manager member companies and our sector occupy
6 Helena Dahlberg, Federation in social debate and politics. It is a position of
Lawyer strength that indicates both the courage of our
7 Jannice Johansson Steijner, member companies but at the same time bears
witness of a greater interest shown by the world
Consultant, Architectural Advisory
around in what we have to offer.
Service, Development Issues
At the time of writing it is easy to find headli-
8 Linda Fritzner, Acting Head
nes in the newspapers concerning a growing
of Communications uncertainty on the market. There is talk of an
9 Linnea Kvist, Head of Communi- approaching recession in many places. This
cations (on parental leave) must be taken seriously, and for many of our
6
10 Maria Elinder, Labour Law members measures will need to be taken that
11 Magnus Höij, Director General of are very painful.
the Federation However, at the same time I am convinced
that the services and the advice given by our
There are also a number of colleagues members will be in greater demand than ever.
at Almega who support the work of The need for good basic input, carefully con-
the Federation of Swedish Innovation sidered solutions and a sound perspective will
Companies. simply grow in importance. Driving forces such
as threats to the climate, changes in living pat-
The Board of the terns, the drive for digitalisation and globalisa-
tion or a changed demography, will require new
Federation of Swedish
solutions and new technology.
Innovation Companies Quite simply – more innovation.
8 2019–2020 consists of:
Mikael Vatn, Etteplan Sweden,
Chairman
Charlotte Bergman, ELU Konsult MAGNUS HÖIJ
DIRECTOR GENERAL,
Jan Mattsson, Sweco Architects FEDERATION OF SWEDISH
Johan Dozzi, Tyréns INNOVATION COMPANIES
Ljot Strömseng, Norconsult
Magnus Meyer, WSP Sweden
Niklas Sörensen, Ramboll Sweden
10 Ulla Bergström, White arkitekter
Sara Lindmark, i3tex
Magnus Höij, Innovationsföretagen
11
5
MEMBER COMPANY ACTIVITIES
MEMBER COMPANIES AND
SECTORS OF THE FEDERATION OF
SWEDISH INNOVATION COMPANIES
The member companies of the Federation of Swedish Innovation in order to process questions and infor-
mation.
Companies are innovative companies within the knowledge-in-
The large engineering consultancies
tensive service sector with a focus on architectural and engineer- also offer management services, so-
ing know-how. The feature that unites the companies is a high cial analysis, surveys on behalf of public
and private sector employers, advisory
level of innovational strength, a research-oriented approach, a services and decision-making input, in-
high service content, a high level of value creation, well-educated ventories and inspections in conjunction
with the acquisition of business opera-
employees and a high level of competitiveness. Research, devel- tions and assets, environmental servic-
opment and innovation are of central importance for the compa- es, energy efficiency improvements and
specialist know-how within a number of
nies’ activities, but in different ways and to a varying extent. different areas.
ARCHITECTS ENGINEERING CONSULT- INDUSTRIAL CONSULTANTS
An architect is concerned ANTS, BUILDING AND CIVIL AND TECH COMPANIES
with the planning and de- ENGINEERING There have for many years
sign of environments and Engineering consultants in been engineering consultan-
spacial areas, where the goal is to the fields of building and cies that have specialised in
adapt them both functionally and civil engineering plan and helping other companies and public
aesthetically to the surroundings in design the society, towns and cities service employers with engineering
which they are located, and to the of the future, which includes build- know-how and calculations in con-
program for which they are to be ings, infrastructure in the form of nection with product development,
used. In order to achieve this, an archi- roads, bridges and wastewater in- production and advanced designs
tect analyses the specific structure and stallations and access to resources and structures. In a state of ever harsh-
design of a building or location, its con- such as electricity and water. They er international competition, they have
nection with the surroundings, its history work with private and public sector em- developed into full-service design houses
and its possible future. In addition, a ployers, such as property developers, and have to a growing extent taken over
study is made and an understanding is building contractors, local authorities, in- the technical development of traditional
reached on how people use the environ- dustrial, power suppliers, harbours and firms and possess every form of compe-
ment and the connections that exists infrastructure administrators, and are in- tence that is needed to develop competi-
between them. In general, architects volved in all phases of the assignment tive products, systems and services.
have a strong focus on sustainability, and in all types of project within the They include areas of competence such
with involvement and competence in sphere of community development. as design, mechanics, technical calcula-
both social and ecological sustainability. In the energy field we work on the full tions, electronics, built-in systems and
Employers can be private companies, cycle within energy planning, produc- software as well as prototype develop-
for example estate agents or local authori- tion and distribution, such as bioener- ment and user interfaces. Products and
ties, but also private persons. The assign- gy, thermal heat, hydropower, wind and systems that are newly developed also
ments fall within society’s entire breadth solar power and other forms of renewa- need to be produced and delivered.
of physical environment: housing, offices, ble energy. Here, the companies help with produc-
parks, courtyards, commercial centres, Also included among engineer- tion development, production technology
public buildings, city-planning, etc. ing consultants are project- and pro- the automation of manufacturing pro-
Those instruments that an architect cess managers. Project managers plan, cesses, test systems, quality controls and
uses to create a building include sketch- manage and direct. The project man- the production of testing equipment, pro-
ing, model-making, drawings in plan and ager coordinates the various assign- duction equipment and tool production.
section with 2D- and 3D-modelling. ments and tasks that are included in Those companies that are referred to
Architects can also work with furniture the project. A process manager plans as industrial engineering consultants, sim-
design, community development, struc- the implementation of the develop- plified industrial consultants, have contin-
tural design, design, brand name archi- ment work by proposing a plan, mod- uously, and in tune with technical devel-
tecture, environmental impact surveys el and/or structure. It is also the role of opment and digitalisation, steadily broad-
and as inspection managers in accord- the process leader to subsequently lead ened their fields of operation. Knowledge
ance with the Planning and Building Act groups by contributing with their own that is essential for the ability of the manu-
and as planning permit reviewers, etc. knowledge, ideas, methods and tools facturing industry to meet increasingly stiff
6 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019
INNOVATIVE
COMPANIES
WITHIN THE KNOW-
LEDGE INTENSIVE
SECTOR
and certification shall be authorised by
the authority SWEDAC to perform,
among other tasks, safety inspections.
The company shall have routines, for
example technical instructions and
checklists, and the technicians shall
have adequate training. SWEDAC con-
ducts regular audits to make sure that
inspections are carried out in a safe
way.
RESEARCH AND
DEVELOPMENT
Research and development
are the core of the compa-
nies’ activities. The interna-
tional competition that exists requires
the constant development of specialist
ILLUSTRATION: BLITEKNIKKONSULT.NU
know-how as well as the development of
new knowledge and new develoment
methods. The companies cooperate
with the academic world, institutes and
client companies. By combining the lat-
est theoretical knowledge with practical
applications in a large number of differ-
ent areas, the companies can solve nu-
merous major social challenges, devel-
op world-leading products and services,
convert the research carried out in aca-
demic life into practical use and handle
international competition and to increase the fields of inspection, testing major issues such as solutions to climate
the level of productivity in production. The and certification. Many companies changes. At present, major changes are
industrial consultants provide direct ac- also offer technical consultation and taking place in connection with sustain-
cess to the latest technology, create the project management within safety and ability challenges, climate change, the
necessary preconditions for effective sys- training. The activities concern many electrification of transportation, AI and
tem and product development and facili- sectors – everything from the building digitalisation.
tate rapid changeover. industry and energy supply to the pro- The ongoing work of the companies
The companies also supply services, cess industry, drinking water, real es- in connection with research and devel-
technical solutions, training and entirely tate, foodstuffs and agriculture. The opment contributes to the survival of
new types of systems for technical infor- sector contributes to greater safety on their clients, productivity development
mation, user manuals, service, assem- building sites, inside the home, and in and competitiveness. All the member
bly and repairs. With new kinds of tools the rest of society, for both people and companies work with research and de-
and instruments such as AR, 3D, digital property. Sample services are design velopment in some way or another.
twins and interactive digital models, ef- inspections, the inspection of anything Several of them cooperate very close-
fective processes are created that mini- from lifts to amusement parks and nu- ly with academic research and work in-
mise faults, reduce costs and give better clear power plants, tests, life-span sur- tensively on innovation projects. The
client experience. veys, work environment in a number of member companies are a part of the
different areas testing – and simula- Swedish knowledge cluster, as knowl-
TESTING, INSPECTION tions in advanced calculation pro- edge clusters, as research institutes as
AND CERTIFICATION grams. Some of the companies devel- tech companies and are a natural link
TIC companies (Testing, In- op custom-made solutions for complex between academic life and the busi-
spection and Certification) and dangerous environments. Compa- ness community. The link between the-
offer above all services in nies that are concerned with inspection ory and application.
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019 7
THE SWEDISH MARKET
THE SECTOR’S
DEVELOPMENT
IN 2018 AND 2019
The sector continued to grow and consolidate in 2018, at the same time as it entered a
weakening phase following several years of growth and strong order books. There is
much to be said for the fact that the peak was passed in 2018. Even though the market
continues to be strong, the volume of incoming orders has reined in, the profitability level
has lowered, the order books are not so well filled, profitability has decreased and the
consolidation rate has slowed down. The profit margin has decreased to 6.9% from 7.1%
during 2017. The operating margin has dropped to 7.1% from 7.4% in 2017.
Companies in the sector
48800
Turnover in the Sector, MSEK
48400
The sector is defined in this report as en-
46800
gineering consulting companies in the
fields of building and construction, in-
36900
dustrial engineering and tech compa-
36300
35800
34800
nies, architectural firms, TIC companies
32300
Million Industrial consultancies, turnover Turnover of Swedish
(Test, Inspection and Certification), and SEK in Sweden groups abroad
31500
28600
Building/Construction oriented TIC-companies
research and development companies.
27800
consultancies, turnover in Sweden*)
2500
28800
2400
2250
The sector consists of just over 11 100 80000
24500
23500
24000
companies. 9 654 of which have 0-2 em- 70000
23000
20000
ployees, 20 have more than 500 employ- 60000
14300
ees and 13 groups have over 1 000 em-
15600
58400
57500
57300
13200
14900
13800
50000
ployees. The consolidation trend has
52600
12600
11200
continued but is now beginning to slow 40000
43100
41900
9800
9800
8400
down somewhat. The major groups,
37000
7400
30000
6400
12200 5300
12100 4200
12000 3500
14700 1200
however, continue to be large, both na-
11400 3100
13200 1100
10700 2500
11800 1200
10400 1600
20000
tionally and internationally.
31700
28200
13300
28000
15800
17400
14500
19000
33000
52400
21000
24200
56500
64600
71950
72800
74400
26700
36500
37500
46700
17100
The size distribution is basically the 10000
following: 0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19p 20p
Number of employees Number of companies
39000
38600
Average number of employees in the Sector
37600
501– 20
101–500 44
29400
51–100 63 Industrial consultancies, employees Employees, Swedish
29000
29000
28600
in Sweden groups abroad
28100
21–50 172 Building/Construction oriented
25800
11–20 148 Number consultancies, employees in Sweden *) TIC-companies
25100
of employees
25700
3–10 1 056 70000
25500
23000
1900
1850
21100
0–2 9 654
1800
21000
60000
21400
11 157
16000 18500
12800 14500
17500
16700
16500
12500 14700
50000
23100 21800 11700 14600
18700
22700 21500 10900 13500
17000
23000 21550 11100 12400
23100 21700 10600 11600
22100 21300 10700 12100
21800 20500 10000 10500
The sector continues to grow
43600
43100
42800
40000
21500 20400 9250 9500
13200
1800
21000 20100 8300 8500
38700
12600
12700
6300
1800
5400
Together, the just over 11 000 compa-
4500
2000
3300
33750
33300
2500
30000
30000
nies in the sector had a turnover of SEK
28000
26900
26800
27400 24900
26100 24500
27500 24500
26100 24000
25100 23400
94.5 billion and some 72 700 employees 20000
in 2018. During 2017, the sector had a
55700
56800
57800
44150
45600
49500
31000
28200
25200
23000
20300
21200
21500
21600
22000
39900
31000
10000
30200
turnover of SEK 86 billion and employed
0
66 200 staff. The number of compa- 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19p 20p
nies that are included in the review and *)Of the building/construction-oriented consultancies architects represented 11.5 billion SEK
come under the sector definition has in- in turnover and 9,400 employees in 2018.
TIC-companies = Test, Inspection & Certification
creased during the year, which serves to Source: Innovationsföretagen
8 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019
THE SWEDISH MARKET
THE INDUSTRY IN SWEDEN
TURNED OVER 94.5 BILLION
SEK AND EMPLOYED 72,700
PERSONS IN 2018.
explain some of the growth – equivalent Key Business Ratios
to SEK 1.3 billion and 1 800 employees. Key Business Ratios are calculated on the Added value for
The real growth was SEK 7.2 billion and basis of the annual reports from the 300 the 300 largest groups
4 700 employees, which corresponds largest groups from where there are full
kSEK per employee
to a growth of 8% and 7% respectively. details available for use. They may there-
The overseas subsidiaries of the Swedish fore differ marginally from the figures re- 700
groups developed significantly during ported by the entire sector.
the course of the year. They had a turn- The turnover per employee increased
650
over of SEK 26.5 billion and employed to SEK 1324k during 2018 from SEK
22 400 personnel abroad. This is to be 1299k in 2017. With the foreign sub-
600
compared with SEK 17.4 billion and 16 sidiaries, the turnover per employee
000 employees during 2017. A large part amounted to SEK 1281k, this too an in-
550
of the growth lies, of course, in ÅF’s ac- crease from the previous year when it was
quisition of the Finnish company Pöyry SEK 1264k.
500
at the end of 2018. But a large number of The profitability, however, weakened
other acquisitions have also been made somewhat, as expected, when the re-
450
by other players. Furthermore, Technia’s cord order backlogs from previous years
foreign operations have been included in
the review. These are equivalent to just 400
02 04 06 08 10 12 14 16 18
over SEK 900 million. 3
ÅF Pöyry changed name to AFRY in November of 2019. Source: Innovationsföretagen
Read more about this under structural deals.
Development by sectors
Turnover per employee, kSEK Result after financial items per employee, kSEK
08 09 10 11 12 13 14 15 16 17 18 19p 20p 08 09 10 11 12 13 14 15 16 17 18 19p 20p
The top 300 groups
1 037 1 017 1 065 1 130 1 161 1 150 1 165 1 182 1 230 1 302 1 326 1 322 1326 78 46 85 92 88 64 67 69 91 94 92 83 81
Construction oriented 1 102 1 086 1 125 1 150 1 171 1 194 1 181 1 213 1 286 1 354 1 386 1 368 1 379 101 81 104 92 92 76 71 77 106 107 104 91 89
of which
Archictural firms 1 063 1 098 1 099 1 132 1 158 1 214 1 159 1 177 1 264 1 283 1 290 1 290 1 296 110 87 84 98 92 63 84 100 138 133 111 97 91
Engineering
1 107 1 184 1 129 1 153 1 174 1 093 1 184 1 219 1 290 1 372 1 410 1 388 1 400 101 80 107 90 92 79 70 73 106 103 104 90 88
consultancies
Industrial consultancies 949 964 954 1 099 1 148 1 093 1 143 1 136 1 153 1 237 1 250 1 265 1 260 44 -17 45 91 82 49 61 58 70 79 77 73 72
Profit margins in Profit margins Change in payroll
the top 300 groups Architectural firms costs/employee
Engineering consultancies
Median Industrial consultancies
% % %
10 10 10
9 9 9
8 8 8
7 7 7
6 6 6
5 5 5
4 4 4
3 3 3
2 2 2
1 1 1
0 0 0
01 03 05 07 09 11 13 15 17 19p 20p 01 03 05 07 09 11 13 15 17 19p 20p
01 03 05 07 09 11 13 15 17 19p 20p -1
-2
-3
Source: Innovationsföretagen
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019 9
THE SWEDISH MARKET
SWEDISH GROUPS TURNED
OVER 26.5 BILLION SEK AND
EMPLOYED 22,400 PERSONS IN
THEIR SUBSIDIARIES ABROAD IN 2018.
dropped to more normal levels and price in 2017 when it was 9.2%. The net mar- ber surveys also indicate a similar pat-
development slowed down. The profit gin (the year’s result after tax) increased, tern. There, the profit margin is meas-
margin (EBT) among the 300 largest however, to 5.1% from 4.7% the previ- ured, which was good at the beginning
companies was 6.9% during 2018, down ous year. Indications during the year of the year but which then dropped sub-
from 7.1% in 2017. The operating mar- suggest that the profitability has contin- stantially during the third quarter. Here,
gin also decreased. It was 7.1% compared ued to weaken slightly during 2019 but however, it should be remembered that
with 7.4% the year before. The operating that it will possibly level off in 2020. The the vacation months fall under the meas-
margin is measured in this context in ac- listed companies enjoyed a strong start uring period. But even compared with
cordance with Swedish practice; after de- to the year in terms of profitability, but the same period previously our profit-
preciation - EBIT in international terms. the trend has subsequently slowed down. ability is worse. So, the picture of a de-
Internationally, use is often made of The average profit margin (EBT) for creasing profitability is borne out.
EBITDA – the operating margin before the first three quarters indicates a weak-
depreciation. The EBITDA margin was ening by about 1 percentage compared Value added
8.6% in 2018, which was also lower than with 2018. Innovationsföretagen mem- The value added per employee increased
to SEK 858k during 2018 from SEK 855k
in 2017. The value added is equivalent to
the increase in value that companies add
Investments in Sweden in their production and is also referred to
2018 2019 p 2020 p as the companies’ contribution to GNP.
billion SEK % % %
In purely concrete terms it is a company’s
Dwellings 262.0 -4 -8 -5 sales minus the cost of inputs. The calcu-
Other premises 176.6 11 4 -1 lations are made by adding together the
Industrial buildings 8.2 0 -18 4 company’s payroll costs and social fees,
operating profit and depreciations. To-
Infrastructure and installations 96.3 6 3 4 gether these make up the value added.
The value is then divided by the mean
Total construction oriented investments 543.1 2 -2 -2
number of employees in order to arrive
at the value added per employee. In the
Investments by manufacturing indu-
stries in machines and tools, according to graph that shows the development of the
Innovationsföretagen and Statistics Sweden 55.1 -5 -7 ±2 value added over time, a clear jump can
be seen between 2015 and 2016, from lev-
Building and industrial investments in 2018 and forecasts for 2019 and 2020.
Source: Statistics Sweden and Swedish Construction Federation
els of around SEK 700k to a little over
SEK 800k per employee. This is a con-
sequence of changes in the Annual Re-
Annual billing ratio, Average billing ratio per sector ports Act that came into force in 2016
listed companies which mean that smaller companies do
Architectural firms
Engineering consultancies not need to provide information on sal-
84 Industrial engineers aries and social fees with a specific spec-
84
82 82 ification of pension costs. The effects
of the change, however, were greater
80 80
than the mere fact that only the pension
78 78 costs were included. Since the only ac-
76 76 count of salary expenses is now the per-
sonnel costs in the Profit and Loss Ac-
74 74
count, it now means that competence
72 72 development costs are included. This is
70 70 the reason for the large increase between
2015 and 2016. In other words, the value
68 68
added includes more costs than before.
66 66
99 01 03 05 07 09 11 13 15 17 19 09 10 11 12 13 14 15 16 17 18 19 Financial strength
The billing level of the listed companies, weighted From member surveys for the report Investerings-
according to the size of the respective company. signalen, weighted according to the size of the Financial strength is one way of meas-
respective company. uring how a company’s assets appear in
10 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019THE SWEDISH MARKET
Stockholm Loop, Masmo
Skyline and Footboat
designed by Belatchew
architects. Won
Architectural Review MIPIM
Future Project Awards.
ILLUSTRATION. BEL ATCHEW ARKITEK TER
relation to its debts. In this context we social fees have been calculated. In the tion and sales must be paid for as over-
measure shareholders’ equity against the payroll cost calculations, the same ba- head costs. So, it is a question of finding
total assets. A general rule of thumb is sic data is used for both the comparative as high a utilisation capacity as possible
that a company should have a financial years. In other words, if only personnel that makes it possible to cover these costs
strength of over 30%. At the same time, costs are available in the profit and loss and resources. The billing level among
it should not be too high. This would accounts this value is used for both years. the member companies approached 80%
mean that the company’s capital is inac- In this way, the figures will be compa- during 2016 and 2017. In 2018, the in-
tive and is not generating any income. rable even if the way in which wages and creasing trend slowed down and this year
The financial strength in the sector was salaries are reported in the annual re- stopped, with the billing level dropping
38% in 2018, which is a decrease from ports is changed. It could, however, be to average levels of just over 78%. Archi-
40% during 2017. However, the finan- argued that the term used should be per- tectural companies had average billing
cial strength in general is sound within sonnel costs rather than payroll costs, levels of 78.8% during 2015 and 79.4% in
the sector even though the tendency is since for most companies it is these costs 2016, only to peak at 80.1% in 2017. Dur-
for it to be somewhat lower now than it that have been reported since 2016. The ing 2018 it dropped to 76.6% and in the
was 5-10 years ago. Part of the reason for average personnel cost was SEK 780k first four-month periods this year it has
this is without doubt the increasing con- during 2018, which is an increase of 3.6% been on a level of 76.4%. In the case of
solidation level. When the acquisition of from the SEK 753k figure in 2017. the engineering consultancies, the bill-
companies increases, the borrowing level ing level has been more even. It was
also increases, which should affect the fi- Billing level (graph on page10) 78.6% in 2015, 79.0% in 2016, 78.4% in
nancial strength to a certain extent. The billing level in the sector has been 2017 and 78.0% during 2018. So far dur-
increasing for many years. It has been ing 2019 it has been on a level of 78.1%.
Payroll costs one of the main instruments with which The billing level among the industrial
Payroll costs per employee increased to balance salary increases in order to re- consultants appears to have peaked this
by 3.6% between 2017 and 2018. Since tain profitability, when price develop- year. It was 79.1% in 2015 and 78.5% in
2014, the increases in payroll costs have ment has been unable to match the sal- 2016. This was followed by 80.3% in 2017
been between four and just over five per ary increases. The difference with bill- and 81.3% in 2018. So far this year it has
cent. So, the result for 2018 could mark ing level compared to other Key Business maintained a level of 81.2%.
a break in trend. The payroll costs are Ratios is, of course, that there is a ceiling. The listed companies show a similar
measured as personnel costs per em- In other words, it cannot continue to in- development pattern as the member com-
ployee as they are reported in the annual crease for ever. In order to retain innova- panies in general. They have remained at
reports. For the smaller companies all tion and competitiveness as a company, billing levels of 76% to settle in 2018 im-
personnel-related costs have been meas- investments have to be made in research mediately below at 75.7% on average. So
ured since 2016 whereas in the case of and development and in competence far this year it has been on a level of 75.1%.
the larger companies, payroll costs and development. In addition, administra- The likely development in the future
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019 11THE SWEDISH MARKET
PHOTO: ANDERS BERGÖN
Trummens Strand
residential block,
designed by Fojab. Won
the Wood construction
prize of Växjö in 2019.
Malmö market hall,
designed by Wingårdh
architects. Won Malmö
built society award.
PHOTO: ANDRÉ PIHL
12 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019THE SWEDISH MARKET
INTERVIEW THE INDUSTRY GREW BY 8%
ERIK IN TERMS OF TURNOVER IN 2018.
LANDGREN
MANAGING
DIRECTOR,
KIWA INSPECTA
SWEDEN
WE ARE A PARTNER THAT a major demand for driven and
competent employees with the right
GUARANTEES THE QUALITY background technically. However,
equally important are but at the
OF PRODUCTS AND SERVICES” same time curiosity, drive and the
desire to develop.
How can consultants help in de-
There is talk of a recession. How We have today a solid programme veloping a sustainable society?
do you see market development for new and more established em- This is one of the aspects that for
over the period 2020–21? ployees incorporating, among other me makes our sector so enjoyable to
We forecast continued positive features, a leadership programme work in. Those services we provide
development. In our sector we are for our talents. This is conducted in have a direct link with sustainability.
needed in many cases as a partner both Sweden and at group level. Being able, within a project, to work
to drive operations. Our activities sa- We face a challenge, however, in on extending the lifetime of a plant,
feguard the quality of products and explaining what we are doing within environmental audits, energy audits,
services, and also give us access to TIC and the opportunities the job wind and solar power, risk analyses
the market. Erik Landgren, Managing Director, offers. We have so many interesting and testing and inspection for safety
Even in somewhat more difficult Kiwa Inspecta Sweden things to offer. At Kiwa you can work and performance to reduce the risk
times our clients take the chance are looking at all the time. Being a on anything from the inspection of environmental impact, are only
to safeguard their future operations full-service supplier of TIC (Test, In- of fairgrounds to making calcula- some of the tasks we perform on a
through expansion and the upgra- spection and Certification) services tions for advanced designs within daily basis that have a direct impact
ding of existing production facilities, is important because we can make the nuclear power industry. TIC is on sustainability.
etc. This means that there is a need things easier for our clients and be a a unique business sector that is How do you solve the profita-
for our services and that we can be partner for them throughout the enti- extremely developmental and offers bility equation with increasing
a good partner for future growth re product and process life cycle. an enormous variety in the choice of salaries and stagnating prices?
among our clients. Employer branding will be everyday work. This is, of course, something that
How do you regard and how increasingly important in the Which skills are likely to be in most business sectors are facing.
do you drive innovation in your struggle to attract talented per- greater demand in the future? I can see, however, that we really
company? sonnel. How does the younger We have a constant need for add a unique value to our clients’
Constantly developing and generation function and what people with technical drive. Our products and processes, and at the
adding services for the benefit of approach do you take in order to operations are also becoming same time this is something that our
our clients is something that we be an attractive employer? increasingly digitised. So, we see clients can also see.
is that the average billing level will stabi-
lise around the current level. However, it The Group’s opinion about the Manpower development
may increase somewhat for the architec- development of the price situation
tural companies in the coming year or so.
Architectural firms Architectural firms
Engineering consultancies Engineering consultancies
Architectural companies % Industrial consultancies % Industrial consultancies
The architectural sector had a turno- 60 100
ver of SEK 11.5 billion in Sweden in 2018. 80
The number of employees in architectural 40
companies increased to 9 400 compared 60
with 9 000 the year before. The turnover 20
40
per employee was SEK 1223k for the en-
tire architectural sector. Among the 300 0 20
largest companies it was somewhat higher
with a figure of SEK 1290k per employee. 0
Swedish architectural firms had a turno- -20
-20
ver of SEK 1.5 billion and employed 900
personnel in foreign subsidiaries. Profit- -40 -40
T3 T3 T3 T3 T3 T3 T3 T3 T2-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3
ability decreased somewhat during 2018, 12 13 14 15 16 17 18 19 07 09 11 13 15 17 19
which was only to be expected in light of
the downswing in the housing sector in The price trend graphs show net figures for the The expectations regarding how manpower will
proportion of firms that have raised their prices develop show net figures between the proportion of
parallel with a growing share of public minus those that have lowered their prices over firms which believe their working force will increase
60
sector assignments. The operating margin the past six-month period minus those who believe it will decrease over the
100
Source: Innovationsföretagen coming six-month period. Source: Innovationsföretagen
40 80
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019
60 13
20
40THE SWEDISH MARKET
THE OPERATING (EBITA)
MARGIN DROPPED TO 7.1%
IN 2108, FROM 7.4% IN 2017.
Backlog of orders – index compared with order forecasts (expectations)
Backlog of orders-index Expectations
Architectural firms
Arkitektföretag Architectural firms
Arkitektföretag
Engineering consultancies
Teknikkonsultföretag Engineering consultancies
Teknikkonsultföretag
Industrial consultancies
Industrikonsultföretag Industrial consultancies
Industrikonsultföretag
140 100
100
140
80
130 80
130 60
60
120
40
120 40
110 20
20
110 0
100
0
-20
100
90 -20
-40
T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3
90 00 02 04 06 08 10 12 14 16 18 -40 00 02 04 06 08 10 12 14 16 18
T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3 T1-3
99 01 03 05 07 09 11 13 15 17 19 99 01 03 05 07 09 11 14 15 17 19
The order backlog index is based on questionnaire surveys among STD member firms, and is calculated by weighing between the orders in hand per
employee and the order level in 2, 3, 6 and 12 months’ time. The expectations’ curve represents net figures for the proportion of firms that anticipate an
improved
130 order situation minus those that expect a worse order situation in 6 months’
130 time.
Source: Innovationsföretagen
120 120
110 110
Equity
100
ratio A comparison with
100
other consulting industries
Company size Turnover/employee
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
% 90 1–30 31–200 201–300 (employees) (kSEK) 90
60 Management 1820 1800 2075 2015 1890 1880 1906 1912 1823 1817 1924 2114 2336 2314
consultants
80 IT consultants (adm.) 80 1135 1440 1270 1290 1480 1545 1627 1703 1917 1987 1858 1879 1953
1170
50
70 Lawyers’ offices 1595
70 1655 1750 1730 1690 1770 1840 1773 1921 1986 2104 2132 2177 2272
40
Market surveyors 1070 1085 1280 1355 1295 1445 1465 1459 1437 1423 1466 1461 1448 1524
60 Public relations and
130
60
1170 1265 1285 1320 1260 1235 1295 1269 1736 1808 1806 1849 1941 2028
30 communication *)
Auditors 120
1135 1250 1250 1230 1275 1280 1320 1332 1402 1433 1491 1524 1552 1546
20 and as per our table
on page 9
110
Architects and building 992 1034 1102 1102 1086 1125 1150 1171 1941 1181 1213 1286 1354 1386
10 engineering consultant
Industrial engineering 100
910 886 915 949 964 954 1099 1148 1093 1143 1136 1153 1237 1250
consultants
0 It is interesting to make a comparison with other knowledge-intensive sectors as it gives an
02 04 06 08 10 12 14 16 18 90
indication of the different fee levels between various consulting industries. The following
Source: Innovationsföretagen
comparative figures from the 20–50 largest companies in a few selected sectors have been
collected using Soliditets’80business tool; Nordic Business Key.
Source: Innovationsföretagen and Soliditets Nordic Business Key
70
was 9.2%, down from 11.4% in 2017. The the architectural sector60
in general and the Industrial consultants
profit margin was 8,6% compared with housing sector in particular has probably (industrial engineering and
10.3% the previous year. Profitability has bottomed out this year. There are indica- tech companies)
continued to weaken during 2019. But tions that the market situation has now The industrial consultancy sector devel-
there is much to indicate that the trend stabilised at a somewhat lower level than oped significantly in size during 2018. It
will level off in 2020. The slowdown in over the period 2015–2018. had a turnover of SEK 34.8 billion and em-
14 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019THE SWEDISH MARKET
INTERVIEW
SARA
LINDMARK
MANAGING
DIRECTOR,
I3TEX
WE LIVE INNOVATION BECAUSE WE leagues. Sometimes, the role also in-
cludes mentorship.
ARE DOING NEW THINGS ALL THE TIME” How can consultants help in de-
veloping a sustainable society?
By making the right choices in their
assignments, every day. This requires
There is talk of a recession. How We also see our innovation work as both competence on our own part as
do you see market development a way of benefitting society. We invite consultants but also among our cli-
over the period 2020–21? What in everyone who wishes to contribute ents, who order the projects. The re-
do you regard as being the trends to a better world in order to find solu- quirements and direction of a project
and challenges? tions in cooperation! We will perhaps are set at an early stage and it is here
We are optimistic and look forward start an innovation hub or incubator of that important decisions are made.
to a stabilisation and more time to de- some kind. We want to help by acting as an advi-
velop both relations and our business Sara Lindmark, Managing Director, Employer branding will be in- sor in the early stages, but regardless
in a somewhat longer term. Our strat- i3tex creasingly important in the strug- of how we become involved in the
egy is to offer product development to which is conducted at regional level. gle to attract talented personnel. process we want to take part in creat-
a number of different sectors, and this In order to succeed, we take How does the younger genera- ing a sustainable product.
has proved to be a strength during strength and energy from our vision tion function and what approach We have developed our own meth-
various fluctuations in the economy. to develop tomorrow’s products for do you take in order to be an at- od for increasing the awareness of
Even though the automotive sector a better world. We are really passion- tractive employer? both ourselves and our clients. We
seems to be slowing down, demand ate about using our skills in engineer- This is a reality, and our approach call it the Better World index. It is at-
within, for example, medical technolo- ing – as well as our involvement for is always to place the employees’ per- tracting a growing number of enquir-
gy and digitisation is increasing. human-beings and the environment – spective in the forefront when dis- ies and increasing interest from both
The challenge will continue to be in to make the world a little better every cussing development and making clients and our sector colleagues. BWi
attracting the finest talents and match- day and step by step. decisions. One practical example of means that we investigate and rank all
ing them with client requirements – at We are also undergoing compre- this is our work on setting values – our projects on the basis of how well
the right time and at the right price. hensive development by setting val- where we started with the employee they fulfil our five Better World crite-
With a sector in a state of change ues for the whole of i3tex, which and manager processes. Our leader- ria: Reduce the burden on the envi-
it feels more important than ever means that all we are and all we do ship policy clearly expresses the fact ronment, reduce human suffering, im-
to have a clear strategy when it shall be thoroughly permeated by en- that leadership involves, among oth- prove people’s everyday life, increase
comes to size, services offered, joyment, consideration and endeav- er things, removing obstacles and fa- people’s security and facilitate com-
skills, etc. How do you feel about our. We are doing this on a process- cilitating the professional and person- munication and information flows
this and what is your strategy? by-process basis and are convinced al development of our employees. Our We follow up the results on an on-
It is an extremely exciting change, that honest and clear values will be a managers shall always investigate going basis and in this way obtain a
and as a medium-sized service com- strength when it comes to develop- the possibility of saying YES. Nobody direct indication of how well we are
pany we will continue to be fast, close ing our employees, attracting new tal- shall through force of habit say NO. fulfilling our vision of developing to-
at hand and smart. We regard our- ents and in gaining even greater confi- We have an Advisory Board morrow’s products for a better world.
selves as being “an unusually large dence from the market and our clients. manned by employees that meets in Attracting more women to the en-
small engineering consultancy”, How does i3tex regard and drive order to discuss proposals and listen gineering profession is also important
and we wish to retain this feeling on, innovation? to opinions. Employees are free to ap- for a more sustainable form of devel-
above all, our growth journey. Be- Innovation is part of our DNA. We ply for membership to the Advisory opment. For us it is self-evident that
cause we need quite simply to grow live innovation because we do new Board, but above all it is our value car- a broad representation makes de-
and become larger in order to be able things all the time. The clients appoint riers that are members. It has natural- cision-making easier. An extended
to do more of what we are passionate us in order to create something that ly been the case that we have more number of perspectives and great-
about and to be a long-term and sta- does not exist today. We have an in- members from the younger genera- er experience will enrich all aspects
ble partner for our clients. novation process that we use for both tion and even more from among senior from ideas and demands to selection
We have set up ambitious growth our own idea and product develop- employees. We of course want to be and implementation. As a company
goals and are in the process of break- ment and in the work that we do for the best workplace for both groups. we already enjoy equality on a man-
ing them down into required lev- our clients. The very fact that we con- In order to increase the proximi- agement level, and we are trying hard
els within 1000 days. Among other duct our own product development ty between i3tex as a company and to recruit more female consultants.
things, all our employees have been gives us credibility at the same time all our consults, we have introduced It is a long-term task which includes,
asked to tell us what they consider to as we develop our own competence, the concept of Buddies. A Buddy is an among other things, involvement in
be their dream project. We then use creativity and methods, which creates employee who takes an extra special IGE Day, Introduce a Girl to Engineer-
this in our 1000-day planning scheme, value for our clients. responsibility for a handful of his col- ing Day.
ployed 28 100 personnel in Sweden. This among the 300 largest consulting compa- over and employed SEK 5.4 billion and 4
is an increase from the SEK 31.5 billion and nies. Swedish industrial consultants and 900 employees respectively. A large part
25 700 employees reported for 2017. The tech companies turned over SEK 12 billion of the reason for this is ÅF’s acquisition of
turnover per employee was SEK 1238k for and employed 9 500 personnel in subsidi- Pöyry, which is now characterised as a for-
the entire industrial consulting sector and aries abroad. This is a substantial increase eign subsidiary. The inclusion of Technia’s
SEK 1250k for the industrial consultancies compared with last year when they turned operations abroad in this year’s review also
SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019 15THE SWEDISH MARKET
THE SHARE OF WOMEN
IN THE INDUSTRY
WAS 34% IN 2018.
The top 30 Swedish groups Profit margin in the top 30 groups
Omsättning/anställd
Turnover/employee
Balansomslutning/anställd
Balance Sheet total/employee Resultat
Profit after e fin
financial poster/anställd
items/employees %
10
kkr
kSEK kkr
kSEK
1300 130 9
1200 120
8
1100 110
1000 100 7
900 90
6
800 80
5
700 70
600 60 4
500 50 3
400 40
2
300 30
1
200 20
100 10 0
-1
88 89 9291 9493 9695 9897 00 9902 0104 0306 0508 07
87 90 12 11
10 09 14 13
16 18
15 86 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 19p20p
Group no. 31–50 Group no. 51–100
Turnover/employee Profit after financial items/employees Turnover/employee Profit after financial items/employees
Balance Sheet total/employee Balance Sheet total/employee
kSEK kSEK kSEK kSEK
1300 130 1300 130
1200 120 1200 120
1100 110 1100 110
1000 100 1000 100
900 90 900 90
800 80 800 80
700 70 700 70
600 60 600 60
500 50 500 50
400 40 400 40
300 30 300 30
200 20 200 20
100 10 100 10
88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18
Group no. 101–150 Group no. 151–200 Group no. 201–300
Turnover/employee Profit after financial Turnover/employee Turnover/employee Profit after
Profit after financial financial items
Balance Sheet total/employee items/employees Balance Sheet total/employee items/employees Balance Sheet
total/employee /employees
kSEK kSEK kSEK kSEK kSEK kSEK
1700 170 1700 170
1700 170
1500 150 1500 150
1500 150
1300 130 1300 130 1300 130
1100 110 1100 110 1100 110
900 90 900 90 900 90
700 70 700 70 700 70
500 50 500 50 500 50
300 30 300 30 300 30
100 10 100 10 100 10
92 94 96 98 00 02 04 06 08 10 12 16 18 92 94 96 98 00 02 04 06 08 10 12 16 18 00 02 04 06 08 10 12 14 16 18
Source: Innovationsföretagen
16 SECTOR REVIEW • FEDERATION OF SWEDISH INNOVATION COMPANIES • DECEMBER 2019You can also read
