Net sales and profit

January – June 2025

Group net sales decreased slightly during the first half-year 2025 and amounted to SEK 25,862 million (26,373). Net sales for the latest rolling 12 month period amounted to SEK 58,186 million compared to SEK 58,697 million for the full year 2024. The share of public sector customers of net sales calculated on a rolling 12 month basis increased and accounted for 56 percent (53) and private customers for 44 percent (47).

Net sales in business area Construction decreased by seven percent compared to the same period last year. The decrease is due to less activity in new housing production that has not been fully compensated for by other types of projects. Activity in business area Civil Engineering continued to be high during the period and net sales increased by three percent. Net sales in business area Industry decreased by six percent due to paving and lower activity in construction system and rental operations resulting from a weak housing market. Net sales in Project Development were basically on the same level as the same period last year.

Group operating profit amounted to SEK 482 million (513) and the operating margin was 1.9 percent (1.9). The first quarter is markedly affected by the season, particularly in business area Industry, since the beginning of the year is characterized by considerable deficits because the paving season begins in the second quarter. The first quarter last year included a positive effect of SEK 220 million in business area Project Development as a result of the divestment of the shares in the joint venture Tornet Bostadsproduktion.

The operating margin improved in business area Construction to 2.2 percent (1.8) in the first half-year and in business area Civil Engineering the operating margin improved to 3.9 percent (3.1). All in all, the operating margin for construction contract operations amounted to 2.9 percent (2.3). Operating profit in business area Industry improved during the period and the operating margin was -0.1 percent (-0.4). Operating profit improved in paving, mineral aggregates and concrete during the first half of the year, while both construction system and rental operations were affected by the weak housing market and reported lower profitability. Operating profit in business area Project Development amounted to SEK 82 million (213) where capital gains from divestitures of properties and shares in joint ventures in Property Development contributed by SEK 47 million (275). The comparable period included a capital gain of SEK 220 million from the sale of shares in the joint venture Tornet Bostadsproduktion. A number of production starts in Housing Development had a positive effect during the period, although activity continued to be low. In Housing Development the operating margin was 1.3 percent (-4.0).

* Operating margin rolling 12 months excluding effect of MoS was 3.8% as of June 30, 2023, 3.6% as of September 30, 2023, 2.5% as of December 31, 2023 and 2.6% as of March 31, 2024.

Seasonal variations

Group operations, particularly in Industry and Civil Engineering, are normally affected by fluctuations that come with the cold weather during the winter half of the year. The first quarter is usually weaker than the rest of the year.