Finalized acquisition reinforces our Nordic position

In this report amounts and comments are based on segment reporting if not otherwise specified. As of January 1, 2020 Peab has changed accounting principles for Swedish tenant-owned housing projects in reporting according to IFRS. Reporting of housing projects in Norway and Finland in segment reporting has changed. The Group has different accounting principles in segment reporting compared to reporting according to IFRS. For more information on the new accounting principles and the differences between segment reporting and reporting according to IFRS, see note 1 and 4.

Summary according to segment reporting

April – June 2020

  • Acquisition of paving and mineral aggregates operations from YIT finalized on April 1, 2020
  • Net sales SEK 15,518 million (14,527), of which acquired operations SEK 1,741 million
  • Operating profit SEK 661 million (784), of which acquired operations net SEK 41 million. The comparable period included an income contribution of SEK 170 million from divestment of properties in the partially owned company Acturum
  • Operating margin 4.3 percent (5.4)
  • Pre-tax profit SEK 661 million (782)
  • Earnings per share SEK 1.72 (2.24)
  • Orders received SEK 13,220 million (10,817), of which acquired operations contributed by SEK 1,964 million
  • Cash flow before financing SEK -2,264 million (-987), of which paid amount for acquired operations was SEK -3,125 million

January – June 2020

  • Net sales SEK 27,156 million (26,190)
  • Operating profit SEK 872 million (1,050)
  • Operating margin 3.2 percent (4.0)
  • Pre-tax profit SEK 802 million (1,058)
  • Earnings per share SEK 2.13 (3.01)
  • Orders received SEK 25,828 million (22,685). Order backlog SEK 46,123 million (45,873), of which acquired order backlog SEK 2,407 million
  • Cash flow before financing SEK -667 million (269)
  • Net debt SEK 6,614 million (7,893)
  • Equity/assets ratio 31.2 percent (28.1)
  • Real estate company Annehem Fastigheter founded

Group

MSEK Apr-Jun
2020		 Apr-Jun
2019		 Jan-Jun
2020		 Jan-Jun
2019		 Jul-Jun
2019/2020		 Jan-Dec
2019
Mkr Apr-jun
2020		 Apr-jun
2019		 Jan-jun
2020		 Jan-jun
2019		 Jul-jun
2019/2020		 Jan-dec
2019
Segment reporting Segmentsredovisning
Net sales Nettoomsättning 15,518 14,527 27,156 26,190 56,315 55,349
Operating profit Rörelseresultat 661 784 872 1,050 2,432 2,610
Operating margin, % Rörelsemarginal, % 4.3 5.4 3.2 4.0 4.3 4.7
Pre-tax profit Resultat före skatt 661 782 802 1,058 2,323 2,579
Profit for the period Periodens resultat 508 661 629 889 1,878 2,138
Earnings per share, SEK Resultat per aktie, kr 1.72 2.24 2.13 3.01 6.37 7.25
Return on equity, % 1) Räntabilitet på eget kapital, % 1) 15.1 – 15.1 – 15.1 17.9
Return on capital employed, % 1) Räntabilitet på sysselsatt kapital, % 1) 11.8 – 11.8 – 11.8 12.8
Net debt Nettoskuld 6,614 7,893 6,614 7,893 6,614 7,535
Equity/assets ratio, % Soliditet, % 31.2 28.1 31.2 28.1 31.2 32.5
Cash flow before financing Kassaflöde före finansiering -2,264 -987 -667 269 421 1,357
Number of employees at the end of the period Antal anställda vid utgången av perioden 16,654 14,862 16,654 14,862 16,654 14,258
Reporting according to IFRS Redovisning enligt IFRS
Net sales, IFRS Nettoomsättning, IFRS 15,789 15,140 27,659 27,979 55,983 56,303
Operating profit, IFRS Rörelseresultat, IFRS 723 997 893 1,788 2,390 3,285
Pre-tax profit, IFRS Resultat före skatt, IFRS 704 987 785 1,782 2,230 3,227
Profit for the period, IFRS Periodens resultat, IFRS 544 826 612 1,464 1,804 2,656
Earnings per share, IFRS, SEK Resultat per aktie, IFRS, kr 1.84 2.80 2.07 4.96 6.11 9.00
Cash flow before financing, IFRS Kassaflöde före finansiering, IFRS -2,304 -130 -1,040 3,005 -819 3,226
1) Calculated on rolling 12 months. Since the numbers for 2018 have not been translated according to the changed accounting principles no numbers for June 30, 2019 are given.
Net sales
Operating profit
Orders received