PEAB Årsredovisning 2022 – Note 19 Participation in joint ventures

Note 19 Participation in joint ventures

Information regarding significant joint ventures in the Group

Fastighets AB Centur, 50 percent ownership. The company will own, manage and develop commercial property and homes.

Fastighets AB ML4, 50 percent ownership. The company will own and manage research facility Max IV in Lund. The facility is rented to Lund University.

Tornet Bostadsproduktion AB, 33.33 percent ownership. The company will develop, own and manage attractive and environmentally friendly rentals in larger cities in Sweden.

Point Hyllie Holding AB, 50 percent ownership. The company will develop, own and manage the office property The Point as well as own and manage the hotel property Värdshuset 5.

Skiab Invest AB, 50 percent ownership. The company will develop, own and manage commercial property and housing in the Scandinavian mountains. Skiab Invest AB, half-owned by Peab and SkiStar, signed contracts in May 2021 for the acquisition of three lodges with a property value of SEK 737 million and development rights worth SEK 305 million from SkiStar. Peab and SkiStar have owned and managed three lodges in Swedish and Norwegian mountainside locations through various jointly owned companies. These have now been gathered toghether in the half-owned company Skiab Invest AB. The transactions were finalized per July 2021.

		Significant joint ventures 2022-12-31					Significant joint ventures 2021-12-31
Group, MSEK		Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB
		Väsentliga joint ventures 2022-12-31					Väsentliga joint ventures 2021-12-31
	Koncernen, Mkr	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB
Net sales	Nettoomsättning	428	134	232	85	119	406	97	220	59	42
Operating profit ¹⁾	Rörelseresultat ¹⁾	370	79	134	26	45	318	53	125	8	31
Interest expenses and similar profit/loss items	Räntekostnader och liknande resultatposter	-123	-48	-44	-28	-9	-120	-35	-41	-19	-2
Tax	Skatt	-60	-6	-21	-2	-16	-35	-6	-18	1	5
Profit for the year	Årets resultat	187	25	69	-4	20	163	12	66	-10	34
Other comprehensive income	Övrigt totalresultat				8	45
Total comprehensive income for the year	Årets totalresultat	187	25	69	4	65	163	12	66	-10	34
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-3					-5
Total comprehensive income less non-controlling interest	Summa totalresultat efter avdrag för innehav utan bestämmande inflytande	184	25	69	4	65	158	12	66	-10	34
¹⁾ Depreciation amounts to	¹⁾ Avskrivningar uppgår till		50	36	34	49		43	35	32	12

Fixed assets	Anläggningstillgångar		225	10		38		204			51
Investment property	Förvaltningsfastigheter	6,565	1,940	4,856	1,372	1,884	6,355	1,991	4,536	1,354	1,723
Short-term investments and liquid funds	Kortfristiga placeringar och likvida medel	139	21	138	10	23	201	79	199	41	148
Other current assets	Övriga omsättningstillgångar	25	28	175	15	575	20	2	11	6	401
Total assets	Summa tillgångar	6,729	2,214	5,179	1,397	2,520	6,576	2,276	4,746	1,401	2,323
Long-term financial liabilities	Långfristiga finansiella skulder	4,774	1,893	3,496	965	1,208	4,825	1,959	3,310	990	1,104
Other long-term liabilities	Övriga långfristiga skulder	349	67	2	4	11	310	62	12		1
Current financial liabilities	Kortfristiga finansiella skulder		62		13	10		85			10
Other current liabilities	Övriga kortfristiga skulder	511	31	159	36	62	213	34	121	36	44
Total liabilities	Summa skulder	5,634	2,053	3,657	1,018	1,291	5,348	2,140	3,443	1,026	1,159
Net assets	Nettotillgångar	1,095	161	1,522	379	1,229	1,228	136	1,303	375	1,164
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-25		-31			-22		-31
Net assets less non-controlling interest	Nettotillgångar efter avdrag för innehav utan bestämmande inflytande	1,070	161	1,491	379	1,229	1,206	136	1,272	375	1,164

Group share of net assets at the beginning of the year	Koncernens andel av nettotillgångar vid årets ingång	603	68	425	187	582	524	62	402	192	55
Share of total comprehensive income	Andel av summa totalresultat	92	12	22	2	33	79	6	21	-5	17
Acquisitions	Förvärv								2
Contribution / new issues	Tillskott / nyemission			50			150				510
Dividend received	Erhållen utdelning	-160					-150
Group share of net assets at year-end	Koncernens andel av nettotillgångar vid årets utgång	535	80	497	189	615	603	68	425	187	582
Group share of unrealized internal profit at the beginning of the year	Koncernens andel av orealiserad internvinst vid årets ingång	-47	-56	-27	-116	-89	-44	-57	-23	-108	–
Reclassification of internal profit when restructuring partially owned company	Omklassificering av internvinst vid omstrukturering av delägt bolag										-89
Elimination of unrealized profit	Eliminering av orealiserad vinst	-1		-4	-5	1	-3	1	-4	-8
Group share of unrealized internal profit at year-end	Koncernens andel av orealiserad internvinst vid årets utgång	-48	-56	-31	-121	-88	-47	-56	-27	-116	-89
Recognized value at year-end	Redovisat värde vid årets utgång	487	24	466	68	527	556	12	398	71	493

Total comprehensive income is reported in the following lines in the income statement:	Totalresultatet redovisas på följande rader i resultaträkningen:
Production costs	Kostnader för produktion	91	12	18	-7	11	76	7	17	-13	17
Other comprehensive income	Övrigt totalresultat				4	23
Total	Summa	91	12	18	-3	34	76	7	17	-13	17

Recognized amount is reported in the following line in the balance sheet:	Redovisat värde fördelas på följande rad i balansräkningen:
Participation in joint ventures	Andelar i joint ventures	487	24	466	68	527	556	12	398	71	493
Total	Summa	487	24	466	68	527	556	12	398	71	493

Information on other joint venture's value in the Group

Group, MSEK		2022	2021
	Koncernen, Mkr	2022	2021
Share of comprehensive income in other joint ventures	Andel av totalresultat för övriga joint ventures	-5	105
Other comprehensive income is divided among the following items in the income statement:	Totalresultatet fördelas på följande rader i resultaträkningen:
Productions costs	Kostnader för produktion	-14	99
Other operating income	Övriga rörelseintäkter	9	6
Total	Summa	-5	105

Recognized value of other joint ventures	Redovisat värde av övriga joint ventures	785	693
Recognized amount is divided among the following items in the balance sheet:	Redovisat värde fördelas på följande rader i balansräkningen:
Participation in joint ventures	Andelar i joint ventures	902	797
Other provisions ¹⁾	Övriga avsättningar ¹⁾	-100	-87
Accrued expenses and deferred income ²⁾	Upplupna kostnader och förutbetalda intäkter ²⁾	-17	-17
Total	Summa	785	693

¹⁾Refers to joint ventures where equity is negative.

²⁾ Refers to joint ventures where the net sum of equity and internal profit elimination is negative.

					Share of equity ¹⁾
Company		Corp. ID no.		Registered Office	2022	2021
					Kapitalandel ¹⁾
	Företag	Organisationsnummer	Säte		2022	2021
Blindheim Kran AS	Blindheim Kran AS	918 329 293	Ålesund	Ålesund	45.0%	45.0%
Bondistranda Utvikling AS	Bondistranda Utvikling AS	992 512 741	Lysaker	Lysaker	50.0%	50.0%
Brekkeveien 5 Bolig AS	Brekkeveien 5 Bolig AS	991 935 177	Lysaker	Lysaker	–	50.0%
Byggutveckling Svenska AB	Byggutveckling Svenska AB	556627-2117	Linköping	Linköping	50.0%	50.0%
Einerhagen Eiendom AS	Einerhagen Eiendom AS	915 167 241	Tromsø	Tromsø	50.0%	–
Fastighets AB Centur	Fastighets AB Centur	556813-6369	Stockholm	Stockholm	50.0%	50.0%
Fastighets AB ML4	Fastighets AB ML4	556786-2155	Malmö	Malmö	50.0%	50.0%
Fastighets AB Tornet	Fastighets AB Tornet	559008-2912	Göteborg	Gothenburg	50.0%	50.0%
Fjällvärme i Sälen AB	Fjällvärme i Sälen AB	556536-1895	Malung-Sälen	Malung-Sälen	50.0%	50.0%
Fløifjellet Eiendom AS	Fløifjellet Eiendom AS	915 467 407	Tromsø	Tromsø	50.0%	50.0%
Fløtningen Park AS	Fløtningen Park AS	992 212 330	Skien	Skien	50.0%	50.0%
Frenvikrønningen AS	Frenvikrønningen AS	986 838 325	Skien	Skien	50.0%	50.0%
Fri Sikt Volsdalsberga AS	Fri Sikt Volsdalsberga AS	990 529 396	Ulsteinvik	Ulsteinvik	40.0%	40.0%
Forsøket Boliger AS	Forsøket Boliger AS	919 440 694	Tromsø	Tromsø	50.0%	50.0%
Galtungveien Eiendom AS	Galtungveien Eiendom AS	927 660 407	Halden	Halden	50.0%	50.0%
Hans Haslums Vei Utvikling AS	Hans Haslums Vei Utvikling AS	914 498 937	Lysaker	Lysaker	50.0%	50.0%
Hälsostaden Ängelholm Holding AB	Hälsostaden Ängelholm Holding AB	556790-5723	Ängelholm	Ängelholm	33.3%	33.3%
ITolv AB	ITolv AB	556513-2478	Eksjö	Eksjö	42.0%	43.8%
JV Slättö Peab Finland AB	JV Slättö Peab Finland AB	559363-1897	Stockholm	Stockholm	50.0%	–
Kaldslettneset AS	Kaldslettneset AS	911 692 058	Tromsø	Tromsø	50.0%	50.0%
KB Älvhögsborg	KB Älvhögsborg	916899-2734	Trollhättan	Trollhättan	50.0%	50.0%
Kirkebakken Vest AS	Kirkebakken Vest AS	988 796 174	Horten	Horten	50.0%	50.0%
Klosterfoss Utvikling AS	Klosterfoss Utvikling AS	991 043 829	Skien	Skien	50.0%	50.0%
Kungsörs Grusaktiebolag	Kungsörs Grusaktiebolag	556044-4134	Kungsör	Kungsör	50.0%	50.0%
Lillegården Eiendom AS	Lillegården Eiendom AS	886 804 512	Skien	Skien	50.0%	50.0%
Majorbygg AS	Majorbygg AS	912 077 020	Skien	Skien	50.0%	50.0%
Medkila Nord AS	Medkila Nord AS	998 565 545	Harstad	Harstad	50.0%	50.0%
Myren Parkering AS	Myren Parkering AS	912 024 733	Skien	Skien	26.4%	26.4%
Nedre Holte AS	Nedre Holte AS	985 911 495	Harstad	Harstad	50.0%	50.0%
Nordasfalt AS	Nordasfalt AS	950 501 480	Bodø	Bodø	50.0%	50.0%
Nyheim Bolig AS	Nyheim Bolig AS	928 032 582	Tromsø	Tromsø	50.0%	50.0%
PEKO Fastighets AB	PEKO Fastighets AB	559220-8911	Solna	Solna	50.0%	50.0%
PeKum AB	PeKum AB	559041-7464	Kumla	Kumla	50.0%	50.0%
Point Hyllie Holding AB	Point Hyllie Holding AB	559023-4034	Solna	Solna	50.0%	50.0%
PPE Holding AB	PPE Holding AB	559003-7304	Solna	Solna	50.0%	50.0%
PPE Holding i Borgholm AB	PPE Holding i Borgholm AB	559309-7768	Kalmar	Kalmar	50.0%	50.0%
Runö Fastigheter Handelsbolag	Runö Fastigheter Handelsbolag	969723-2107	Stockholm	Stockholm	30.0%	30.0%
Scandinavian Mountains AB	Scandinavian Mountains AB	556973-5631	Malung-Sälen	Malung-Sälen	15.9%	24.4%
Sicklaön Bygg Invest AB	Sicklaön Bygg Invest AB	556911-5479	Solna	Solna	50.0%	50.0%
Skiab Invest AB	Skiab Invest AB	556848-5220	Malung-Sälen	Malung-Sälen	50.0%	50.0%
SLP JV AB	SLP JV AB	559387-1063	Solna	Solna	50.0%	–
Solligården Bolig DA	Solligården Bolig DA	913 765 516	Lysaker	Lysaker	50.0%	50.0%
Solligården Næring AS	Solligården Næring AS	913 764 862	Lysaker	Lysaker	50.0%	50.0%
Stadsliden Utveckling AB	Stadsliden Utveckling AB	556874-7413	Umeå	Umeå	50.0%	50.0%
Steindalen AS	Steindalen AS	914 738 091	Stjørdal	Stjørdal	33.3%	33.3%
Storsvingen Vest AS	Storsvingen Vest AS	999 210 953	Hammerfest	Hammerfest	50.0%	50.0%
Strömbrytaren Holding AB	Strömbrytaren Holding AB	559116-6391	Stockholm	Stockholm	50.0%	50.0%
Sydpartner AB	Sydpartner AB	556712-4952	Ängelholm	Ängelholm	50.0%	50.0%
Tornet Bostadsproduktion AB	Tornet Bostadsproduktion AB	556796-2682	Stockholm	Stockholm	33.3%	33.3%
Tunveien Eiendom AS	Tunveien Eiendom AS	916 321 007	Oslo	Oslo	50.0%	50.0%
Umeå Mark & Exploatering AB	Umeå Mark & Exploatering AB	556660-7064	Umeå	Umeå	50.0%	50.0%
Vardenbakken 99 AS	Vardenbakken 99 AS	998 347 211	Oslo	Oslo	50.0%	50.0%
Visio Råsunda Garage AB	Visio Råsunda Garage AB	556952-9992	Solna	Solna	50.0%	50.0%

¹⁾The share of capital corresponds to the share of votes