Order situation

January – March 2025

Orders received continued to be high during the first quarter 2025 and amounted to SEK 16,574 million (17,889). The level of orders received rose in business areas Construction, Industry and Project Development while it fell in business area Civil Engineering, which had a very high level in the comparable period. Paving contracts increased in business area Industry in both Sweden and Finland. Business area Project Development started production of more tenant-owner apartments/condominiums than in the corresponding quarter last year, which had a positive effect on the level of orders received. There is a large portion of projects for the public sector in orders received for the Group.

Order backlog yet to be produced at the end of the period grew and amounted to SEK 51,955 million (47,808). Of the total order backlog, 47 percent (46) is expected to be produced after 2025 (2024). Swedish operations accounted for 78 percent (81) of the order backlog.

Preliminary agreements

Operations in business areas Construction and Civil Engineering often participate in dialogues with customers at an early stage prior to planned projects, so-called phase 1 contracts. Through these preliminary agreements Peab is contracted to arrive at, together with the customer, an optimal product with the right quality and also deal with risks and uncertainties. As of 2024, we present the potential value of the final construction contracts generated by these preliminary agreements.

At the beginning of 2025 the potential value was around SEK 13 billion. During the period several projects went from phase 1 to phase 2, which means that the projects have been converted into construction contracts and included in Peab’s orders received. At the same time, we see that new projects have flowed into phase 1 while other projects have fallen away. During the quarter most of the new projects are in business area Construction. The value of the construction contracts generated from these phase 1 contracts at the end of March was around SEK 16 billion, and these orders will potentially be received over the next two years.

Orders received

MSEK Jan-Mar
2025		 Jan-Mar
2024		 Apr 2024-
Mar 2025		 Jan-Dec
2024
Mkr Jan-mar
2025		 Jan-mar
2024		 Apr 2024-
mar 2025		 Jan-dec
2024
Construction Bygg 8,784 6,654 24,354 22,224
Civil Engineering Anläggning 4,870 8,188 19,135 22,453
Industry Industri 3,835 2,932 14,666 13,763
Project Development Projektutveckling 1,276 627 2,862 2,213
Eliminations Elimineringar -2,191 -512 -5,822 -4,143
Group Koncernen 16,574 17,889 55,195 56,510

Order backlog

MSEK Mar 31
2025		 Mar 31
2024		 Dec 31
2024
Mkr 31 mar
2025		 31 mar
2024		 31 dec
2024
Construction Bygg 26,685 25,483 23,188
Civil Engineering Anläggning 21,129 18,623 19,853
Industry Industri 7,417 6,211 4,282
Project Development Projektutveckling 1,975 1,709 1,536
Eliminations Elimineringar -5,251 -4,218 -3,953
Group Koncernen 51,955 47,808 44,906

Project size of order backlog, March 31, 2025

Order backlog allocated over time

Sörgården Preschool

Gislaved

We received a number of major construction projects and contracts in the first quarter, including:

  • Renovation of an office building in Helsinki. The customer is Nordisk Renting. The contract is worth EUR 10 million.
  • Construction of new barracks in Visby on Gotland. The customer is the Swedish Fortifications Agency. The contract is worth SEK 207 million.
  • Construction of Björkås School in Ulricehamn. The customer is Ulricehamn Municipality. The contract is worth SEK 255 million.
  • Construction of a new central kitchen for Palvelukeskus Helsinki in Vantaa. The customer is Kiinteistö Oy AB Pakkalantie 30. The contract is worth EUR 35 million.
  • Extension to Hjärupslund School in Hjärup. The customer is Staffanstorps kommunfastigheter AB. The contract is worth SEK 109 million. 
  • Construction of new work premises at Skenäs Prison on the outskirts of Norrköping. The customer is Specialfastigheter. The contract is worth SEK 135 million.
  • Commission to expand Skjetten Elementary School in Lillestrøm. The customer is Lillestrøm Municipality. The contract is worth NOK 113 million.
  • Commission to modify Lunden School in Gothenburg. The customer is Gothenburg City’s Stadsfastighetsförvaltning. The contract is worth SEK 275 million.
  • Rebuilding of the wastewater treatment plant in Henriksdal in Stockholm. The customer is Stockholm Vatten och Avfall. The contract is worth SEK 368 million.
  • Construction of a new school and health center in Karasjok. The customer is Karasjok Municipality. The contract is worth NOK 543 million.
  • Construction of the new Vigra School in Giske. The customer is Giske Municipality. The contract is worth NOK 159 million.
  • Construction of the new housing project Fagertun in Ulsteinvik. The customer is Ulsmo. The contract is worth NOK 176 million.
  • Construction of a bus depot in Lockarp in Malmö. The customer is Region Skåne. The contract is worth SEK 339 million.  
  • Construction of a new swimming pool facility in Götene. The customer is Götene Municipality. The contract is worth SEK 250 million.
  • Construction of homes in Luthagen in Uppsala. The customer is HSB Uppsala. The contract is worth SEK 151 million.
  • Construction of new test facilities and offices in Örnsköldsvik. The customer is BAE Systems Hägglunds. The contract is worth SEK 280 million.
  • Commission to continue rebuilding Highway E22 in Lund. The customer is the Swedish Transport Administration. The contract is worth SEK 335 million.
  • Construction of a new nursing home in Vårgårda. The customer is Vårgårda Municipality. The contract is worth SEK 268 million.
  • Construction of a new nursing home and preschool in Varberg. The customer is Varbergs Fastighets AB. The contract is worth SEK 200 million.
  • Commission to complete the construction of the School of Business, Economics and Law at the University of Gothenburg. The customer is Akademiska Hus. The contract is worth SEK 350 million.
  • Construction of the new holiday home complex Trysil Suites in Trysil. The customer is Skiab. The contract is worth NOK 194 million.
  • Construction of a combined heat and power plant in Örtofta. The customer is Kraftringen Energi. The contract is worth SEK 388 million.  
  • Commission to expand the smolt facility at Sævareid in Bjørnafjorden. The customer is Artec Aqua AS. The contract is worth NOK 116 million.

The following own housing developments of tenant-owner/condominium apartments were production-started in the first quarter:

  • Brf Kvarnholmshöjden in Nacka comprising 105 apartments. The property will be environmentally certified according to the Swan and built with ECO-Betong (ECO-Concrete) and solar panels. The project is expected to be completed in June 2027.
  • Brf Mittfältaren in Solna comprising 141 apartments. The property will be environmentally certified according to the Swan and built with ECO-Betong (ECO-Concrete) and solar panels. The project is expected to be completed in December 2027.
  • Brf Solgårdsbacken in Stenungsund comprising 50 apartments. The property will be environmentally certified according to the Swan. The project is expected to be completed in December 2026.

We received a number of paving contracts in the first quarter, including:

  • Three-year federal contract in Uppsala County worth SEK 122 million.
  • Three-year federal contract in Dalarna County worth SEK 75 million.
  • Two-year federal contract in Värmland County worth SEK 69 million.
  • Two-year federal contract in Bohus County and Dalsland worth SEK 62 million.
  • Three-year federal contract in Bohus County and Dalsland worth SEK 59 million.
  • Two-year federal contract in Värmland County worth SEK 55 million.
  • One-year federal contract in North Ostrobothnia worth EUR 11.4 million.
  • One-year federal contract in Southwest Finland worth EUR 10.6 million.
  • One-year federal contract in South Karelia worth EUR 10.1 million.
  • Four-year municipal contract in Lahti worth EUR 9.5 million.
  • One-year federal contract in South Savo worth EUR 8.8 million.
  • One-year federal contract in North Karelia worth EUR 8.1 million.
  • One-year federal contract in South Ostrobothnia worth EUR 7.9 million.
  • One-year private contract at Tromsø Airport worth NOK 77 million.
  • One-year privat contract at Bergen Airport worth NOK 60 million.
  • One-year municipal contract in Herning worth DKK 39 million.