Order situation
Implementation of IFRS 15 Revenue from contracts with customers entails new disclosure demands which will be presented in the Annual Report 2018. One of the disclosure demands refers to remaining performance obligations, more often called order backlog. In quarterly reports Peab has previously chosen to present information on orders received and order backlog in business areas Construction, Civil Engineering and Project Development. As of 2018 Industry presents orders received and order backlog for product areas Asphalt, Construction System and part of Rentals as well. In the other product areas in Industry contracts are usually short and therefore orders received and order backlog are not presented for them. Comparable figures regarding orders received and order backlog have been recalculated for 2017.
July- September 2018
Orders received for the third quarter 2018 amounted to SEK 11,473 million compared to SEK 10,651 million for the same quarter last year. The orders received are well spread geographically and there is good product diversity.
January – September 2018
Orders received for the period January-September 2018 amounted to SEK 40,636 million compared to SEK 35,960 million for the same period last year. The level of orders received has risen in business area Construction and Civil Engineering but contracted in Project Development and Industry. Included in orders received for business area Construction is the office project Platinan in Gothenburg for Vasakronan worth SEK 2,100 million. Included in orders received for business area Civil Engineering is the extension of the west Sweden railroad system at Olskroken in Gothenburg, worth SEK 2,900 million, for the Swedish Transport Administration. There have been fewer orders received in business area Project Development as a result of fewer housing production starts. The orders received in the period are well spread geographically and there is good product diversity.
Order backlog yet to be produced at the end of the period increased to SEK 48,036 million compared to SEK 40,211 million at the end of the same period last year. Of the total order backlog, 77 percent (75) is expected to be produced after 2018 (2017). Swedish operations accounted for 87 percent (84) of the order backlog.
Orders received
| MSEK | Jul-Sep 2018 | Jul-Sep 2017 | Jan-Sep 2018 | Jan-Sep 2017 | Oct-Sep 2017/2018 | Jan-Dec 2017 | |
| Mkr | Jul-sep 2018 | Jul-sep 2017 | Jan-sep 2018 | Jan-sep 2017 | Okt-sep 2017/2018 | Jan-dec 2017 | |
| Construction | Bygg | 6,815 | 7,110 | 24,805 | 21,505 | 32,580 | 29,280 |
| Civil Engineering | Anläggning | 3,546 | 3,047 | 13,598 | 10,798 | 16,991 | 14,191 |
| Industry | Industri | 1,123 | 982 | 3,562 | 3,751 | 4,963 | 5,152 |
| Project Development | Projektutveckling | 1,361 | 965 | 4,579 | 5,555 | 7,520 | 8,496 |
| Eliminations | Elimineringar | -1,372 | -1,453 | -5,908 | -5,649 | -8,379 | -8,120 |
| Group | Koncernen | 11,473 | 10,651 | 40,636 | 35,960 | 53,675 | 48,999 |
Order backlog
| MSEK | 30 Sep 2018 | 30 Sep 2017 | 31 Dec 2017 | |
| Mkr | 30 sep 2018 | 30 sep 2017 | 31 dec 2017 | |
| Construction | Bygg | 31,723 | 26,699 | 26,805 |
| Civil Engineering | Anläggning | 15,031 | 11,253 | 10,832 |
| Industry | Industri | 2,266 | 2,534 | 2,533 |
| Project Development | Projektutveckling | 7,039 | 7,478 | 8,198 |
| Eliminations | Elimineringar | -8,023 | -7,753 | -8,163 |
| Group | Koncernen | 48,036 | 40,211 | 40,205 |
We received several major contracts and agreements during the third quarter, including:
- Renovation of 391 apartments in Helsingborg. The customer is HSB Brf Ättekulla and the contract is worth SEK 157 million.
- Renovation and extension of the Members of Parliament Building in Stockholm. The customer is Riksdagsförvaltningen and the contract is worth SEK 615 million.
- Construction of 251 hotel rooms on three floors directly connected to Quality Hotel Friends in Solna. The customer is Strawberry Properties AB and the contract is worth SEK 350 million.
- Construction of the new IKEA department store in Kållered. The customer is IKEA Fastigheter AB and the contract is worth SEK 795 million.
- Construction of the wind power plants Blakliden and Fäbodberget in Åsele and Lycksele. The customer is Blakliden Fäbodberget Wind AB and the contract is worth SEK 430 million.
- Construction of an office building and car park in Drottninghög in Helsingborg. The customer is Stenströms and Helsingborgshem AB and the contract is worth SEK 213 million.
- Construction of an office building according to Peab’s Business Garden Concept in Jyväskylä, Finland. The customer is Specialplaceringsfond Fennica Fastigheter I and the contract is worth EUR 20 million.
- Construction of the first stage of a new medical building at Helsingborg Hospital. The customer is Region Skåne and the contract is worth SEK 136 million.
- Construction of Torp Shopping Center in Uddevalla with 16,500 square meters and extension as well as a substantial renovation of existing premises. The customer is Thon Property AB and the contract is worth SEK 580 million.
- Construction of a new railroad junction west of Sundsvall. It will be a so-called wye that connects the Ådal and Mitt tracks. The customer is the Swedish Transport Administration and the contract is worth SEK 178 million.
- Construction of 65 apartments in Ålesund in northwestern Norway. The customer is Fri Sikt Dalsberga AS and the contract is worth NOK 201 million.