Net sales and profit

January – June 2026

Group net sales increased by seven percent during the first half-year 2026 and amounted to SEK 27,549 million (25,862). Adjusted for divested units and exchange rate effects, net sales increased by nine percent. Net sales for the latest rolling 12 month period amounted to SEK 60,276 million compared to SEK 58,589 million for the full year 2025. Projects for the public sector remain on a high level and the share of public sector customers of net sales calculated on a rolling 12 month basis was 54 percent (56) and private customers were 46 percent (44).

Net sales in business area Construction increased by five percent in the first half-year 2026. Net sales in Sweden and Finland increased but declined in Norway due to the divestment of K Nordang AS, which was sold to a company partly owned by Peab and KB Gruppen during the first quarter. There was a high level of activity in business area Civil Engineering during the period and net sales increased by 13 percent. The increase is largely due to several major ongoing infrastructure projects. Net sales in business area Industry increased by ten percent and the increase is related to both units Swerock/Asphalt and Construction system. Net sales in Project Development were lower compared to the corresponding period last year due to fewer ongoing housing developments.

Group operating profit increased during the first half-year and amounted to SEK 769 million (482) and the operating margin improved to 2.8 percent (1.9). The first quarter is significantly 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. Costs for Peab’s long-term Performance Share Programs, which are under construction and include key personnel in the Group, are reported in Group functions. The programs contribute to retaining and attracting competent personnel and strengthen the connection between reward and shareholder value. During the first half-year higher costs for the Performance Share Programs abetted lowering operating profit in Group functions. For the latest rolling 12 month period the Group operating margin was 4.8 percent compared to 4.5 percent for the full year 2025.

The operating margin in business area Construction improved to 3.2 percent (2.2). The divestment of K Nordang AS to the jointly owned company resulted in a capital gain of SEK 114 million. Compared to the first half of last year, the transaction had a net impact of approximately SEK 90 million. The operating margin in business area Civil Engineering improved to 4.6 percent (3.9). Several of the units in Civil Engineering in Sweden reported higher earnings during the period. All in all, the operating margin for construction contract operations amounted to 3.8 percent (2.9). Operating profit in business area Industry improved and the operating margin increased to 2.2 percent (-0.1), of which the operating margin in Swerock/Asphalt amounted to 1.8 percent (-0.4) and in Construction system to 3.2 percent (1.1). In connection with the discontinuation of operations capital gains from the sale of fixed assets had a positive effect during the first half-year 2026. Increased activity in business area Industry’s unit Construction system in both prefab and rentals contributed to higher operating profit. In business area Project Development operating profit amounted to SEK 43 million (82) and the operating margin was 3.1 percent (4.7). The operating margin in the unit Housing Development was 1.6 percent (1.3). No major transactions have occurred in the unit Property Development.

Group depreciation and write-​​downs for the first half-year were SEK -728 million (-709).

Elimination and reversal of internal profit in our own development projects affected operating profit during the period by net SEK -19 million (16).

Net financial items amounted to SEK -150 million (-809) of which net interest was SEK -170 million (-164). The comparable period was charged with SEK -611 million from the effect of the settlement regarding Mall of Scandinavia.

Pre-​tax profit was SEK 619 million (-327). Profit for the period was SEK 517 million (-293).

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.