Financial position and cash flow

Financial position

Total assets according to segment reporting per June 30, 2025 were SEK 44,525 million (46,840). Equity amounted to SEK 15,572 million (14,992), which entails an equity/assets ratio of 35.0 percent (32.0).

Interest-bearing net debt amounted to SEK 9,525 million (9,585) per June 30, 2025. During the period dividends of SEK 1,100 million were received from Fastighets AB Centur, which was offset against interest-bearing debt that arose in connection with the acquisition of properties from Fastighets AB Centur during the fourth quarter of 2024. Net debt includes project financing of the unsold part of our own housing developments while they are in production. At the end of the period the unsold part amounted to SEK 1,915 million (2,272). Interest-bearing receivables amounted to SEK 1,554 million (2,652). The amount includes a claim on Unibail-Rodamco-Westfield under a settlement agreement regarding Mall of Scandinavia of SEK 979 million (1,067), which was paid on July 2, 2025. For more information regarding the settlement of Mall of Scandinavia, see the section Other information. The average interest rate in the loan portfolio was 4.5 percent (5.7) on June 30, 2025.

Group liquid funds according to IFRS, including unutilized credit facilities but excluding project financing, were SEK 6,455 million at the end of the period compared to SEK 8,822 million on December 31, 2024.

As a consequence of Peab consolidating Swedish tenant-​owner associations according to IFRS, surety for tenant-​owner associations under production is not reported. When homebuyers take possession of their apartments and the tenant-​owner association is no longer consolidated in Peab’s accounts, Peab then reports the part of surety that covers unsold homes. Peab has a guarantee obligation to acquire unsold homes six months after completion. Group contingent liabilities, excluding joint and several liabilities in trading and limited partnerships, amounted to SEK 1,983 million at the end of the period compared to SEK 2,193 million on December 31, 2024. Surety for credit lines in tenant-​owner associations regarding the unsold part after deconsolidation made up SEK 452 million of contingent liabilities compared to SEK 508 million on December 31, 2024.

Investments and divestments

During the quarter tangible and intangible fixed assets were invested for SEK 254 million (210). During the first half-year tangible and intangible fixed assets were invested for SEK 407 million (389). The investments mainly refer to investments in machines in business area Industry. During the quarter tangible and intangible fixed assets of SEK 73 million (159) were divested. During the first half-year tangible and intangible fixed assets of SEK 116 million (203) were divested.

Project and development properties

Project and development properties, which are reported as inventory items, amounted to SEK 17,364 million as of June 30, 2025, compared to SEK 16,828 million as of December 31, 2024. The net change during the first half-year was SEK 536 million (916) and is mainly due to more capital tied up in housing projects in ongoing production. The change during the first half year of the previous year is largely explained by the acquisition of building rights in Nacka through the purchase of Sicklaön Bygg Invest AB.