Sitowise Group

Although Sitowise's Q2 revenue was fully in line with our estimate, operational profitability was slightly below our expectations.

The surge in profitability we forecast is largely due to the removal of the loss-making Swedish business from the figures for continuing operations.

Sitowise announced yesterday that it is selling its Swedish technical consulting operations to Sweco.

Sitowise announced on Tuesday that it will sell its loss-making Swedish technical consulting business to Sweco.

Sitowise's Q1 performance was generally in line with our expectations, though write-downs on Buildings projects slightly weakened the figures. We made no major changes to our estimates.

Sitowise's Q1 interim report this morning did not offer any major surprises. The bottom line was slightly below expectations, but this was due to write-downs of long-suspended projects in the Buildings business. Without these write-downs, our estimates would have been slightly exceeded.

We expect the company's revenue to have remained flat year-on-year, with stable adjusted EBITA.