Business area Industry

Business area Industry provides products and services that make construction and civil engineering projects on the Nordic market more sustainable and cost-​efficient. With local roots we work with both external and internal customers. The business area is run in two units, Swerock/Asphalt and Construction system. Swerock/Asphalt runs product areas mineral aggregates, paving, concrete and transportation and machines and Construction system comprises prefab and rentals. All the product areas are aimed at the Nordic construction and civil engineering market.

Net sales and profit

Business area Industry has a very clear seasonal pattern where the first quarter is characterized by substantial deficits since the paving season begins in the second quarter.

Net sales for the first quarter 2026 increased by eight percent and amounted to SEK 2,462 million (2,283). Adjusted for divested operations and exchange rate effects, net sales increased by nine percent. The increase is related to Construction system.

Operating profit improved during the first quarter and amounted to SEK -412 million (-549) and the operating margin was -16.7 percent (-24.0). In 2025 a review of part of the Norwegian paving and mineral aggregates operations in the unit Swerock/Asphalt was initiated due to low profitability, which resulted in increased costs.

In connection with the discontinuation of operations, capital gains from the sale of fixed assets had a positive effect during the first quarter 2026. In addition, there have been positive effects during the quarter from forward hedging of commodity contracts. Increased activity in the unit Construction system has contributed to a higher operating profit. For the latest rolling 12 month period, the operating margin in business area Industry amounted to 8.0 percent compared to 7.4 percent for the full year 2025, of which the operating margin in Swerock/Asphalt was 9.3 percent (8.6 in 2025) and 1.7 percent (1.2 in 2025) in Construction system.

Capital employed has contracted and at the end of the period was SEK 9,269 million compared to SEK 9,735 million at the end of March 2025.

Orders received and order backlog

The level of orders received during the quarter was slightly lower and amounted to SEK 2,940 million (3,835). The decline in orders received is related to Swerock/Asphalt and the Finnish and Norwegian paving operations. The level of orders received increased in Construction system during the quarter. The order backlog for the business area on March 31, 2026 amounted to SEK 7,563 million (7,417).

Net sales

per product area, rolling 12 months

per geographic market, rolling 12 months

XX

XX

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 2,462 2,283 20,216 20,037
  of which Swerock/Asphalt   varav Swerock/Asfalt 1,507 1,504 16,773 16,770
  of which Construction system   varav Byggsystem 1,047 854 3,865 3,672
  of which eliminations   varav eliminering -92 -75 -422 -405
Operating profit, MSEK Rörelseresultat, Mkr -412 -549 1,622 1,485
  of which Swerock/Asphalt   varav Swerock/Asfalt -440 -558 1,558 1,440
  of which Construction system   varav Byggsystem 28 9 64 45
Operating margin, % Rörelsemarginal, % -16.7 -24.0 8.0 7.4
  of which Swerock/Asphalt   varav Swerock/Asfalt -29.2 -37.1 9.3 8.6
  of which Construction system   varav Byggsystem 2.7 1.1 1.7 1.2
Orders received, MSEK Orderingång, Mkr 2,940 3,835 12,351 13,246
  of which Swerock/Asphalt   varav Swerock/Asfalt 2,541 3,515 10,456 11,430
  of which Construction system   varav Byggsystem 399 320 1,895 1,816
Order backlog, MSEK Orderstock, Mkr 7,563 7,417 7,563 5,390
  of which Swerock/Asphalt   varav Swerock/Asfalt 6,087 6,393 6,087 3,824
  of which Construction system   varav Byggsystem 1,476 1,024 1,476 1,566
Capital employed at the end of the period, MSEK
Sysselsatt kapital vid periodens utgång, Mkr
 9,269 9,735 9,269 9,198
  of which Swerock/Asphalt   varav Swerock/Asfalt 6,587 6,941 6,587 6,443
  of which Construction system   varav Byggsystem 2,682 2,794 2,682 2,755
Operating cash flow, MSEK Operativt kassaflöde, Mkr -338 -611 2,224 1,951
Average number of employees Medeltal antal anställda 3,497 3,616 4,351 4,382
Volumes Swerock/Asphalt Jan-Mar
2026		 Jan-Mar
2025		 Apr 2025-
Mar 2026		 Jan-Dec
2025
Volymer Swerock/Asfalt Jan-mar
2026		 Jan-mar
2025		 Apr 2025-
mar 2026		 Jan-dec
2025
Concrete, thousands of m3 1) Betong, tusentals m3 1) 180 163 919 902
Paving, thousands of tons 1) Beläggning, tusentals ton 1) 79 135 6,103 6,159
Mineral Aggregates, thousands of tons 1) Ballast, tusentals ton 1) 4,581 3,999 25,945 25,363

1) Refers to sold volume