2019 in summary

  • Net sales increased by three percent and amounted to SEK 54,008 million (52,233).
  • Operating profit amounted to SEK 2,568 million (2,573) and operating margin amounted to 4.8 percent (4.9).
  • The business areas developed stably during the year. Business area Industry has been charged with acquisition costs of total SEK 87 million. The property divestiture in the partly owned company Acturum had a positive effect of SEK 170 million in profit contribution in business area Project Development.
  • Orders received amounted to SEK 44,130 million (51,087). The comparison year included two larger projects of total SEK 5,000 million. Orders received during the year have been more along the lines of mid-sized or smaller projects.
  • Order backlog per 31 December 2019 was SEK 42,494 million (45,819) with a broad range of products and well spread geographically.
  • Cash flow before financing amounted to SEK -551 million (-1,021).
  • Net debt amounted to SEK 7,507 million (3,551). Excluding additional IFRS 16, Leases net debt was SEK 6,743 million.
  • Cash flow and net debt have been affected by more construction on property in our own balance sheet and by more ongoing housing projects in Norway and Finland in business area Project Development. In addition, we have continued to invest in machines and equipment in business area Industry.
  • Equity/assets ratio amounted to 31.7 percent (30.4). Excluding additional IFRS 16, Leases equity/assets ratio was 32.3 percent.
  • Return on equity amounted to 17.9 percent (19.6).
  • The Board proposed in February 2020 unchanged dividend of SEK 4.20 per share and extra distribution of a real estate company according to Lex Asea. Due to the coronavirus and the uncertain market situation, the Board chose to withdraw the proposals.
  • On July 4, 2019 Peab signed an agreement to acquire YIT’s Nordic paving and mineral aggregates business. After approval from the competition authorities the acquisition was finalized on April 1, 2020.

Financial summary

2019 2018 2017 Financial goals
2019 2018 2017 Finansiella mål
Net sales, MSEK Nettoomsättning, Mkr 54,008 52,233 49,981
Operating profit, MSEK Rörelseresultat, Mkr 2,568 2,573 2,418
Operating margin, % Rörelsemarginal, % 4.8 4.9 4.8
Pre-tax profit, MSEK Resultat före skatt, Mkr 2,510 2,518 2,458
Profit for the year, MSEK Årets resultat, Mkr 2,092 2,100 2,067
Profit per share, SEK Resultat per aktie, kr 7.09 7.12 7.01
Dividend per share, SEK 1) Utdelning per aktie, kr 1) – 4.20 4.00 > 50%
Return on equity, % Räntabilitet på eget kapital, % 17.9 19.6 21.3 > 20%
Equity/assets ratio, % 2) Soliditet, % 2) 31.7 30.4 32.2 > 25%
Cash flow before financing, MSEK Kassaflöde före finansiering, Mkr -551 -1,021 2,295
Net debt, MSEK 3) Nettoskuld, Mkr 3) 7,507 3,551 1,216
Orders received, MSEK Orderingång, Mkr   44,130 51,087 48,999
Order backlog on 31 December, MSEK Orderstock per 31 december, Mkr 42,494 45,819 40,205
Number of employees on 31 December Antal anställda per 31 december 14,258 14,614 14,344
1) The Board of Directors’ proposes to the AGM that no dividend be distributed for 2019. 2) Excluding additional IFRS 16, Leases the equity/assets ratio was 32.3 percent. 3) Excluding additional IFRS 16, Leases net debt was SEK 6,743 million.    

Financial goals

Return on equity

Goal>20%

Equity/assets ratio

Goal>25%

Dividends

Goal>50% of the profit for the year

* Not recalculated taking IFRS 15 into account, ** The Board of Directors’ proposes to the AGM that no dividend be distributed for 2019.