2024 in summary

New business plan period for 2024-2026

Peab launched the new business plan period for 2024–2026 at a leadership conference. The business plan can be summarized with unchanged targets, customer and market focus as well as clear, concrete action plans going forward.

Peab reiterates its nine external targets during its Capital Market Day

Peab reiterated its nine external targets during its Capital Market Day in Stockholm where President and CEO Jesper Göransson and the rest of Peab’s executive management presented an update of the business’ current situation and strategic focus going forward. Based on the ongoing so-called phase 1 projects in construction contract operations, Peab also communicated potential orders for a total of SEK 19 billion over the next two years.

SCA Expansion Obbola wins Construction of the Year

SCA Expansion Obbola, which was completed by Peab in 2023, won the community building industry’s award Construction of the Year in the category Industry, warehouse, store. The expansion has made room for the world’s largest linerboard machine while transitioning the factory to more sustainable production.

Climate improved concrete becomes standard in Peab’s Swedish operations

Peab’s subsidiary Swerock took the next step in the Group’s climate work. The climate improved concrete ECO-Betong has become the new standard. This means that in each individual project ECO-Betong reduces emissions by at least ten percent compared to traditional concrete that only uses cement as a binder.

Peab commissioned to develop New Bodø Airport

Peab was commissioned to develop New Bodø Airport as the project moves from development to implementation. The customer is Avinor and the contract is worth NOK 3.3 billion.

Port of Skellefteå first to pile with recycled fossil free steel without carbon emissions

In January, Peab was commissioned by Skellefteå Municipality to build a new dock in Skelleftehamn. In May, Peab was the first company in the foundation and civil engineering industry to use piles made from SSAB Zero®, which is steel produced almost completely without carbon emissions. The choice of material reduced carbon emissions by around 80 percent compared to using piles made of traditional steel.

Peab issues new green bonds

Peab successfully issued green bonds for a total of one and a half billion Swedish kronor. There was a great deal of interest in the issue with around 150 investors in total. These funds will finance green investments that contribute to Peab’s efforts to achieve its climate goals.

Peab and LKAB strengthen strategic partnership regarding industrial investments in the north

Peab and LKAB strengthened their strategic partnership concerning a number of planned major industrial projects linked to the green transition in northern Sweden. These include among others a letter of intent between the parties concerning a construction contract for LKAB’s planned hydrogen plant in Gällivare.

Hit by a landslide, Highway E6 opens for traffic again

The part of E6 that was hit by a landslide, which Peab was commissioned by the Swedish Transport Administration to rebuild, has opened for traffic again. This is taking place earlier than planned due to efficient collaboration in the project.

Peab commissioned to extend the new station building in Gothenburg

Peab was commissioned to build Gothenburg’s new station building which will be the largest of three entrances for the West Link station Centralen. The project has a strong environmental och climate focus. The customer is Jernhusen and the contract is worth SEK 870 million.

High paving activity on Finnish roads

Paving activity is high in Finland due to the Finnish government’s extra funds for road maintenance.

New concept for construction sites launched: ECO-Construction Sites

The objective is to reduce the environmental impact of construction sites through policies and guidelines for both waste and water consumption as well as logistics and machines on site.

The Construction Year and trainee program begin

22 college engineers and civil engineers based in Luleå in the north to Malmö in the south participate in Peab’s trainee program for 2024-2025. During the coming year the trainees will learn more about management, participate in a comprehensive leadership course and receive field experience at different workplaces in the Group. In addition, the trainee program The Construction Year started up its second round for women.

Peab acquires properties and development rights in Malmö and divests partly owned investment properties

Peab acquires investment property and development property in Malmö for about two million Swedish kronor from the joint venture company Fastighets AB Centur. At the same time Centur divests investment property to the other owner for about 5,2 million Swedish kronor.

Financial summary

The Group has dif­fer­ent ac­count­ing prin­ci­ples in seg­ment re­port­ing com­pared to re­port­ing ac­cord­ing to IFRS for our own hous­ing de­vel­op­ment projects and for IFRS 16 (pre­vi­ous­ly op­er­a­tional leas­ing con­tracts). For more in­for­ma­tion on the new ac­count­ing prin­ci­ples and the dif­fer­ences be­tween seg­ment re­port­ing and re­port­ing ac­cord­ing to IFRS, see the Board of Di­rec­tors’ Re­port and note 3 and note 4.

Segment reporting Reporting according to IFRS
MSEK 2024 2023 2024 2023
Segmentsredovisning Redovisning enligt IFRS
Mkr 2024 2023 2024 2023
Net sales Nettoomsättning 58,697 58,821 61,283 61,600
Operating profit Rörelseresultat 2,763 1,853 3,163 2,586
Operating margin, % Rörelsemarginal, % 4.7 3.2 5.2 4.2
Pre-tax profit Resultat före skatt 2,425 1,895 2,780 2,586
Profit for the year Årets resultat 2,080 1,414 2,388 1,988
Earnings per share, SEK Resultat per aktie, kr 7.25 4.92 8.32 6.92
Return on equity, % Räntabilitet på eget kapital, % 13.3 9.5 15.7 14.1
Equity/assets ratio, % Soliditet, % 37.1 34.0 34.6 29.4
Net debt Nettoskuld 9,118 8,676 11,253 14,537
Net debt/equity ratio, multiple 1) Nettoskuldsättningsgrad, ggr 1) 0.5 0.6 0.7 1.0
Cash flow before financing Kassaflöde före finansiering 2,601 -1,317 6,744 2,655
Dividend per share, SEK 2) Utdelning per aktie, kr 2) 2.75 1.50 2.75 1.50
Average number of employees Medelantalet anställda 12,899 13,808 12,899 13,808

1) Net debt in relation to equity. 2) For 2024, the Board’s proposal to the AGM.

Orders received and order backlog*
Net sales*
Operating profit and operating margin*

*Refers to segment reporting