Business area Construction
With local roots close to customers business area Construction does construction work for both external and internal customers. Construction projects include everything from new production of housing, public and commercial premises to renovations and extensions as well as construction maintenance.
Net sales and profit
Net sales for the first quarter 2026 were on par with the first quarter last year and amounted to SEK 5,299 million (5,317). Net sales in Sweden increased but decreased in Norwary due to the divestment of K Nordang AS, which during the quarter was sold to a company jointly owned by Peab and KB Gruppen. A large part of net sales during the quarter consisted of various types of premise construction for the public sector.
Operating profit increased during the quarter and amounted to SEK 222 million (111) and the operating margin improved to 4.2 percent (2.1). The sale of K Nordang to the jointly owned company generated capital gains of SEK 114 million. Compared to the corresponding quarter last year the transaction had a net impact of around SEK 100 million.
The new jointly owned company is owned 62.5 percent by KB Gruppen and 37.5 percent by Peab. In addition to K Nordang, the partly owned company also includes Christie & Opsahl, which also operates in Western Norway. The jointly owned company is recognized as an associated company in business area Construction. The operating margin in Construction for the latest rolling 12 month period was 2.6 percent compared to 2.2 percent for the full year 2025.
Orders received and order backlog
The level of orders received contracted during the quarter and amounted to SEK 6,742 million (8,784). There is still a large portion of projects for the public sector in orders received. Calculated on a rolling 12 month basis the level of orders received was 98 percent of net sales.
Order backlog on March 31, 2026 was SEK 25,764 million (26,685). The divestment of K Nordang during the first quarter entailed a reduction in order backlog of about SEK 900 million. The portion of housing projects at the end of the period was 30 percent (29).
Net sales
per product area, rolling 12 months
per geographic market, rolling 12 months
Order backlog, March 31, 2026
per product area
per project size
Key ratios
| Jan-Mar 2026 | Jan-Mar 2025 | Apr 2025- Mar 2026 | Jan-Dec 2025 | ||
| Jan-mar 2026 | Jan-mar 2025 | Apr 2025- mar 2026 | Jan-dec 2025 | ||
| Net sales, MSEK | Nettoomsättning, Mkr | 5,299 | 5,317 | 23,665 | 23,683 |
| Operating profit, MSEK | Rörelseresultat, Mkr | 222 | 111 | 623 | 512 |
| Operating margin, % | Rörelsemarginal, % | 4.2 | 2.1 | 2.6 | 2.2 |
| Orders received, MSEK | Orderingång, Mkr | 6,742 | 8,784 | 23,256 | 25,298 |
| Orders received/net sales, % | Orderingång/nettoomsättning, % | 127 | 165 | 98 | 107 |
| Order backlog, MSEK | Orderstock, Mkr | 25,764 | 26,685 | 25,764 | 25,134 |
| Operating cash flow, MSEK | Operativt kassaflöde, Mkr | -17 | 287 | 1,272 | 1,576 |
| Average number of employees | Medeltal antal anställda | 3,894 | 4,181 | 4,094 | 4,163 |