Peab Annual and Sustainability report 2023 – 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. In December Peab signed a contract to divest its 33.3 percent ownership in Tornet Bostadsproduktion AB to the other owners. The deal was closed in January 2024.

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.

		Significant joint ventures 2023-12-31					Significant joint ventures 2022-12-31
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 2023-12-31					Väsentliga joint ventures 2022-12-31
	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	495	189	268	105	180	428	134	232	85	119
Operating profit ¹⁾	Rörelseresultat ¹⁾	406	134	156	44	109	370	79	134	26	45
Interest expenses and similar profit/loss items	Räntekostnader och liknande resultatposter	-216	-88	-155	-46	-45	-123	-48	-44	-28	-9
Tax	Skatt	-70	-14	-32	-3	-4	-60	-6	-21	-2	-16
Profit for the year	Årets resultat	120	32	-31	-5	60	187	25	69	-4	20
Other comprehensive income	Övrigt totalresultat				-4	-42				8	45
Total comprehensive income for the year	Årets totalresultat	120	32	-31	-9	18	187	25	69	4	65
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-3					-3
Total comprehensive income less non-controlling interest	Summa totalresultat efter avdrag för innehav utan bestämmande inflytande	117	32	-31	-9	18	184	25	69	4	65
¹⁾ Depreciation amounts to	¹⁾ Avskrivningar uppgår till		50	41	35	50		50	36	34	49

Fixed assets	Anläggningstillgångar		245	4	5	29		225	10		38
Investment property	Förvaltningsfastigheter	6,851	1,890	5,162	1,350	1,742	6,565	1,940	4,856	1,372	1,884
Short-term investments and liquid funds	Kortfristiga placeringar och likvida medel	36	36	112	7	134	139	21	138	10	23
Other current assets	Övriga omsättningstillgångar	31	15	268	6	318	25	28	175	15	575
Total assets	Summa tillgångar	6,918	2,186	5,546	1,368	2,223	6,729	2,214	5,179	1,397	2,520
Long-term financial liabilities	Långfristiga finansiella skulder	4,783	1,828	3,531	952	935	4,774	1,893	3,496	965	1,208
Other long-term liabilities	Övriga långfristiga skulder	401	79	1	7	6	349	67	2	4	11
Current financial liabilities	Kortfristiga finansiella skulder		65		13	9		62		13	10
Other current liabilities	Övriga kortfristiga skulder	187	23	223	26	25	511	31	159	36	62
Total liabilities	Summa skulder	5,371	1,995	3,755	998	975	5,634	2,053	3,657	1,018	1,291
Net assets	Nettotillgångar	1,547	191	1,791	370	1,248	1,095	161	1,522	379	1,229
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-28		-31			-25		-31
Net assets less non-controlling interest	Nettotillgångar efter avdrag för innehav utan bestämmande inflytande	1,519	191	1,760	370	1,248	1,070	161	1,491	379	1,229

Group share of net assets at the beginning of the year	Koncernens andel av nettotillgångar vid årets ingång	535	80	497	189	615	603	68	425	187	582
Share of total comprehensive income	Andel av summa totalresultat	58	16	-10	-4	9	92	12	22	2	33
Contribution / new issues	Tillskott / nyemission	166		100					50
Dividend received	Erhållen utdelning						-160
Group share of net assets at year-end	Koncernens andel av nettotillgångar vid årets utgång	759	96	587	185	624	535	80	497	189	615
Group share of unrealized internal profit at the beginning of the year	Koncernens andel av orealiserad internvinst vid årets ingång	-48	-56	-31	-121	-88	-47	-56	-27	-116	-89
Elimination of unrealized profit	Eliminering av orealiserad vinst		1	-5		1	-1		-4	-5	1
Group share of unrealized internal profit at year-end	Koncernens andel av orealiserad internvinst vid årets utgång	-48	-55	-36	-121	-87	-48	-56	-31	-121	-88
Recognized value at year-end	Redovisat värde vid årets utgång	711	41	551	64	537	487	24	466	68	527

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	58	17	-15	-2	31	91	12	18	-7	11
Other comprehensive income	Övrigt totalresultat				-2	-21				4	23
Total	Summa	58	17	-15	-4	10	91	12	18	-3	34

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	711	41	551	64	537	487	24	466	68	527
Total	Summa	711	41	551	64	537	487	24	466	68	527

Information on other joint venture's value in the Group

Group, MSEK		2023	2022
	Koncernen, Mkr	2023	2022
Share of comprehensive income in other joint ventures	Andel av totalresultat för övriga joint ventures	63	-5
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	58	-14
Other operating income	Övriga rörelseintäkter	5	9
Total	Summa	63	-5

Recognized value of other joint ventures	Redovisat värde av övriga joint ventures	753	785
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	880	902
Other provisions ¹⁾	Övriga avsättningar ¹⁾	-127	-100
Accrued expenses and deferred income ²⁾	Upplupna kostnader och förutbetalda intäkter ²⁾	–	-17
Total	Summa	753	785

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	2023	2022
					Kapitalandel ¹⁾
	Företag	Organisationsnummer	Säte		2023	2022
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%
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%	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	Baerum	Baerum	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	50.0%	42.0%
JV Slättö Peab Finland AB	JV Slättö Peab Finland AB	559363-1897	Stockholm	Stockholm	50.0%	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%
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%	15.9%
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%	50.0%
Solligården Bolig DA	Solligården Bolig DA	913 765 516	Baerum	Baerum	50.0%	50.0%
Solligården Næring AS	Solligården Næring AS	913 764 862	Baerum	Baerum	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%
Visio Råsunda Garage AB	Visio Råsunda Garage AB	556952-9992	Solna	Solna	–	50.0%

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