Note 3 Revenue
| Group Jan-Dec 2022, MSEK | Construction | Civil Engineering | Industry | Project Development | Group functions | Eliminations | Group Segment | Differences in accounting principles 1) | Group IFRS | |
| Koncernen Jan-dec 2022. Mkr | Bygg | Anläggning | Industri | Projekt- utveckling | Koncern- gemensamt | Eliminering | Koncernen Segment | Skillnader i redovisnings- principer 1) | Koncernen IFRS | |
| Allocation per external/internal | Fördelning av intäkter – externt/internt | |||||||||
| External sales | Extern försäljning | 23,435 | 13,536 | 17,465 | 8,638 | 61 | 63,135 | -1,202 | 61,933 | |
| Internal sales | Intern försäljning | 5,564 | 1,429 | 3,968 | 23 | 1,471 | -12,455 | – | – | |
| Total | Summa | 28,999 | 14,965 | 21,433 | 8,661 | 1,532 | -12,455 | 63,135 | -1,202 | 61,933 |
| Allocation per country | Fördelning per land | |||||||||
| Sweden | Sverige | 20,846 | 13,309 | 13,099 | 5,924 | 1,204 | -10,139 | 44,243 | -1,297 | 42,946 |
| Norway | Norge | 4,545 | 1,656 | 2,262 | 739 | 173 | -802 | 8,573 | 392 | 8,965 |
| Finland | Finland | 3,608 | 5,042 | 1,998 | 154 | -1,512 | 9,290 | -297 | 8,993 | |
| Denmark | Danmark | 1,015 | 1 | -2 | 1,014 | 1,014 | ||||
| Other | Övrigt | 15 | 15 | 15 | ||||||
| Total | Summa | 28,999 | 14,965 | 21,433 | 8,661 | 1,532 | -12,455 | 63,135 | -1,202 | 61,933 |
| Allocation per type of customer | Fördelning per kundtyp | |||||||||
| Public sector | Offentliga kunder | 10,102 | 10,363 | 6,377 | 17 | 46 | 26,905 | 26,905 | ||
| Private customers | Privata kunder | 13,333 | 3,173 | 11,088 | 8,621 | 15 | 36,230 | -1,202 | 35,028 | |
| Internal customers | Interna kunder | 5,564 | 1,429 | 3,968 | 23 | 1,471 | -12,455 | – | – | |
| Total | Summa | 28,999 | 14,965 | 21,433 | 8,661 | 1,532 | -12,455 | 63,135 | -1,202 | 61,933 |
| Allocation per point in time | Fördelning per tidpunkt | |||||||||
| At one point in time | Vid en tidpunkt | 26 | 15 | 6,915 | 1,373 | 70 | -1,221 | 7,178 | 5,566 | 12,744 |
| Over time | Över tid | 28,957 | 14,940 | 12,338 | 7,195 | 1,277 | -9,580 | 55,127 | -6,768 | 48,359 |
| Rent revenue 2) | Hyresintäkter 2) | 16 | 10 | 2,180 | 93 | 185 | -1,654 | 830 | 830 | |
| Total | Summa | 28,999 | 14,965 | 21,433 | 8,661 | 1,532 | -12,455 | 63,135 | -1,202 | 61,933 |
| Allocation per type of revenue | Fördelning typ av intäkt | |||||||||
| Construction contracts | Entreprenaduppdrag | 28,957 | 14,940 | 12,338 | 7,195 | 97 | -8,400 | 55,127 | -6,768 | 48,359 |
| Sales of goods | Försäljning av varor | 5,393 | -873 | 4,520 | 4,520 | |||||
| Sales of property projects | Försäljning av fastighetsprojekt | 5 | 1,343 | 1,348 | 5,566 | 6,914 | ||||
| Transportation services | Transporttjänster | 1,327 | -281 | 1,046 | 1,046 | |||||
| Administrative services | Administrativa tjänster | 1,180 | -1,180 | – | – | |||||
| Rent revenue 2) | Hyresintäkter 2) | 16 | 10 | 2,180 | 93 | 185 | -1,654 | 830 | 830 | |
| Other | Övrigt | 21 | 15 | 195 | 30 | 70 | -67 | 264 | 264 | |
| Total | Summa | 28,999 | 14,965 | 21,433 | 8,661 | 1,532 | -12,455 | 63,135 | -1,202 | 61,933 |
1) Refers to differences in accounting principles regarding our own housing development projects. In segment reporting revenue is recognized over time while in reporting according to IFRS it is at the time of possession.
2) Rent revenue is recognized according to IFRS 16.
| Group Jan-Dec 2021, MSEK | Construction | Civil Engineering | Industry | Project Development | Group functions | Eliminations | Group Segment | Differences in accounting principles 1) | Group IFRS | |
| Koncernen Jan-dec 2021. Mkr | Bygg | Anläggning | Industri | Projekt- utveckling | Koncern- gemensamt | Eliminering | Koncernen Segment | Skillnader i redovisnings- principer 1) | Koncernen IFRS | |
| Allocation per external/internal | Fördelning av intäkter – externt/internt | |||||||||
| External sales | Extern försäljning | 22,555 | 12,866 | 15,075 | 9,471 | 59 | 60,026 | -1,103 | 58,923 | |
| Internal sales | Intern försäljning | 4,425 | 1,314 | 3,712 | 26 | 1,255 | -10,732 | – | – | |
| Total | Summa | 26,980 | 14,180 | 18,787 | 9,497 | 1,314 | -10,732 | 60,026 | -1,103 | 58,923 |
| Allocation per country | Fördelning per land | |||||||||
| Sweden | Sverige | 19,513 | 12,664 | 11,704 | 6,262 | 1,070 | -8,485 | 42,728 | -1,270 | 41,458 |
| Norway | Norge | 3,963 | 1,501 | 1,905 | 913 | 142 | -926 | 7,498 | 100 | 7,598 |
| Finland | Finland | 3,504 | 15 | 4,364 | 2,322 | 101 | -1,318 | 8,988 | 67 | 9,055 |
| Denmark | Danmark | 792 | 1 | -3 | 790 | 790 | ||||
| Other | Övrigt | 22 | 22 | 22 | ||||||
| Total | Summa | 26,980 | 14,180 | 18,787 | 9,497 | 1,314 | -10,732 | 60,026 | -1,103 | 58,923 |
| Allocation per type of customer | Fördelning per kundtyp | |||||||||
| Public sector | Offentliga kunder | 10,480 | 9,604 | 5,123 | 8 | 45 | 25,260 | 25,260 | ||
| Private customers | Privata kunder | 12,075 | 3,262 | 9,952 | 9,463 | 14 | 34,766 | -1,103 | 33,663 | |
| Internal customers | Interna kunder | 4,425 | 1,314 | 3,712 | 26 | 1,255 | -10,732 | – | – | |
| Total | Summa | 26,980 | 14,180 | 18,787 | 9,497 | 1,314 | -10,732 | 60,026 | -1,103 | 58,923 |
| Allocation per point in time | Fördelning per tidpunkt | |||||||||
| At one point in time | Vid en tidpunkt | 11 | 6 | 6,404 | 1,814 | 56 | -1,319 | 6,972 | 5,759 | 12,731 |
| Over time | Över tid | 26,959 | 14,166 | 10,448 | 7,602 | 1,083 | -7,930 | 52,328 | -6,862 | 45,466 |
| Rent revenue 2) | Hyresintäkter 2) | 10 | 8 | 1,935 | 81 | 175 | -1,483 | 726 | 726 | |
| Total | Summa | 26,980 | 14,180 | 18,787 | 9,497 | 1,314 | -10,732 | 60,026 | -1,103 | 58,923 |
| Allocation per type of revenue | Fördelning typ av intäkt | |||||||||
| Construction contracts | Entreprenaduppdrag | 26,959 | 14,166 | 10,448 | 7,602 | 68 | -6,919 | 52,324 | -6,862 | 45,462 |
| Sales of goods | Försäljning av varor | 1 | 4,975 | -902 | 4,074 | 4,074 | ||||
| Sales of property projects | Försäljning av fastighetsprojekt | 1,750 | -16 | 1,734 | 5,759 | 7,493 | ||||
| Transportation services | Transporttjänster | 1,241 | -308 | 933 | 933 | |||||
| Administrative services | Administrativa tjänster | 1,015 | -1,011 | 4 | 4 | |||||
| Rent revenue 2) | Hyresintäkter 2) | 10 | 8 | 1,935 | 81 | 175 | -1,483 | 726 | 726 | |
| Other | Övrigt | 11 | 5 | 188 | 64 | 56 | -93 | 231 | 231 | |
| Total | Summa | 26,980 | 14,180 | 18,787 | 9,497 | 1,314 | -10,732 | 60,026 | -1,103 | 58,923 |
1) Refers to differences in accounting principles regarding our own housing development projects. In segment reporting revenue is recognized over time while in reporting according to IFRS it is at the time of possession.
2) Rent revenue is recognized according to IFRS 16.
The Group recognizes revenue when the Group meets a performance obligation, which is when a promised good or service is delivered to the customer and the customer takes control over the product or service. Control of a performance obligation can be transferred over time or at a certain point in time. The Peab Group’s revenue primarily consists of the following revenue flows: Construction contracts, Sales of goods, Sales of property projects, Transportation services, Administrative services, Rent revenue and Other revenue.
Recognition over time
Revenue from Construction contracts and some other revenue is recognized over time. The transaction price of contracts with customers usually consists of fixed amounts, variable amounts or a combination of the two.
Revenue in ongoing construction projects is recognized over time based on the project’s degree of completion. This requires being able to calculate project revenue and project costs in a reliable manner. Project forecasts are regularly evaluated as a project progresses and are adjusted as needed.
Some contracts include several different performance obligations such as construction sales and contracts for operation and maintenance. Since operation and maintenance are not dependent on the construction contract this part is recognized as a separate performance obligation. In cases where contracts contain several performance obligations the transaction price is divided into each separate performance obligation based on their stand-alone sales prices.
In fixed price contracts the customer pays the agreed price on an established payment schedule. A receivable from the customer is recognized if a promised good or service Peab has delivered exceeds the payment. A liability to the customer is recognized if the payment exceeds the delivered services.
No financing component is considered to exist at the time of invoicing since the credit period is normally short. Terms of payment are usually 30 days. The Group’s obligations to fix errors and shortcomings concerning completed projects are recognized as provisions. Guarantee periods are usually two to five years.
Recognition at one point in time
Revenue from the sales of goods, property, transportation and certain other revenue is recognized at one point in time. Sales of goods is recognized as revenue when control of the goods is transferred to the customer, which normally occurs when the goods are delivered.
Revenue from the sales of property is recognized when control of the property is transferred to the customer, which normally coincides with the customer taking over the property.
Revenue is recognized based on the price in the contract, which is normally a fixed price. Variable components, such as rent guaranties, reduce the recognized revenue.
Normally invoicing takes place upon delivery and the credit period is usually short and therefore there is no financing component. Terms of payment are almost always 30 days. Credit periods exceeding 12 months are rare and in those cases the transaction price is adjusted for the effects of financing components.
The Group’s obligations to fix errors and shortcomings connected to delivered goods are recognized as provisions. These are conventional guarantees and are not considered to be separate performance obligations.
The remaining performance obligations are presented in the tables below.
| Group 2022-12-31‚ MSEK | Coming financial year | Next financial year | Thereafter | Total | |
| Koncernen 2022-12-31. Mkr | Kommande räkenskapsår | Nästkommande räkenskapsår | Därefter | Summa | |
| Construction | Bygg | 19,501 | 7,430 | 2,133 | 29,064 |
| Civil Engineering | Anläggning | 8,182 | 3,836 | 1,921 | 13,939 |
| Industry | Industri | 3,241 | 956 | 76 | 4,273 |
| Project Development | Projektutveckling | 3,933 | 1,234 | 280 | 5,447 |
| Eliminations | Elimineringar | -6,068 | -2,011 | -255 | -8,334 |
| Total, segment reporting | Summa, segmentsredovisning | 28,789 | 11,445 | 4,155 | 44,389 |
| Adjustment housing | Justering bostäder | 2,266 | 2,148 | 231 | 4,645 |
| Total, IFRS | Summa, IFRS | 31,055 | 13,593 | 4,386 | 49,034 |
| Group 2021-12-31‚ MSEK | Coming financial year | Next financial year | Thereafter | Total | |
| Koncernen 2021-12-31. Mkr | Kommande räkenskapsår | Nästkommande räkenskapsår | Därefter | Summa | |
| Construction | Bygg | 20,435 | 8,155 | 1,552 | 30,142 |
| Civil Engineering | Anläggning | 8,806 | 3,466 | 1,683 | 13,955 |
| Industry | Industri | 3,057 | 829 | – | 3,886 |
| Project Development | Projektutveckling | 3,766 | 1,740 | 1,049 | 6,555 |
| Eliminations | Elimineringar | -6,181 | -2,572 | -467 | -9,220 |
| Total, segment reporting | Summa, segmentsredovisning | 29,883 | 11,618 | 3,817 | 45,318 |
| Adjustment housing | Justering bostäder | 3,274 | 796 | -328 | 3,742 |
| Total, IFRS | Summa, IFRS | 33,157 | 12,414 | 3,489 | 49,060 |