Zhiqiang Yu has some good blog posts on compiling in windows which is pretty much equivalent to doing it in linux. You simply don't put the ".exe" extension when you're naming the swat file. So look for those if this isn't clear. Generally, you need to compile modparm.f first so:
1- comment out the include modparm.f line in the main.f file
2 - create the modparm object file (ifort -c modparm.f)
3 - create swat (ifort -o swat *.f)
There might be a few other bugs within the code related to line extension operators...
Also, you might as well through the -fast flag in those commands. I think it helps.