Strong cash flow and stable level of orders received

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  

July – September 2020

  • Net sales SEK 14,837 million (13,301), of which acquired operations SEK 2,738 million
  • Operating profit SEK 844 million (763), of which acquired operations net SEK 177 million
  • Operating margin 5.7 percent (5.7)
  • Pre-tax profit SEK 824 million (749)
  • Earnings per share SEK 2.25 (2.14)
  • Orders received SEK 11,718 million (9,349), of which acquired operations contributed by SEK 1,280 million
  • Cash flow before financing SEK 1,683 million (-179)
  • The Board proposes distribution of Annehem Fastigheter in the fourth quarter
  • Revised financial goals will be presented in conjuncture with the year-end report 2020

January – September 2020

  • Net sales SEK 41,993 million (39,491), of which acquired operations SEK 4,479 million
  • Operating profit SEK 1,716 million (1,813), of which acquired operations net SEK 208 million
  • Operating margin 4.1 percent (4.6)
  • Pre-tax profit SEK 1,626 million (1,807)
  • Earnings per share SEK 4.38 (5.15)
  • Orders received SEK 37,546 million (32,034), of which acquired operations contributed by SEK 3,244 million. Order backlog SEK 44,722 million (43,821)
  • Cash flow before financing SEK 1,016 million (-70), of which acquisition payment was SEK -3,184 million
  • Net debt SEK 5,780 million (8,474)
  • Equity/assets ratio 32.0 percent (30.2)
  • Acquisition of paving and mineral aggregates operations from YIT finalized on April 1, 2020

Group

MSEK Jul-Sep
2020		 Jul-Sep
2019		 Jan-Sep
2020		 Jan-Sep
2019		 Oct-Sep
2019/2020		 Jan-Dec
2019
Mkr Jul-sep
2020		 Jul-sep
2019		 Jan-sep
2020		 Jan-sep
2019		 Okt-sep
2019/2020		 Jan-dec
2019
Segment reporting Segmentsredovisning
Net sales Nettoomsättning 14,837 13,301 41,993 39,491 57,851 55,349
Operating profit Rörelseresultat 844 763 1,716 1,813 2,513 2,610
Operating margin, % Rörelsemarginal, % 5.7 5.7 4.1 4.6 4.3 4.7
Pre-tax profit Resultat före skatt 824 749 1,626 1,807 2,398 2,579
Profit for the period Periodens resultat 664 629 1,293 1,518 1,913 2,138
Earnings per share, SEK Resultat per aktie, kr 2.25 2.14 4.38 5.15 6.48 7.25
Return on equity, % 1)  Räntabilitet på eget kapital, % 1) 15.2 – 15.2 – 15.2 17.9
Return on capital employed, % 1)  Räntabilitet på sysselsatt kapital, % 1) 12.3 – 12.3 – 12.3 12.8
Net debt Nettoskuld 5,780 8,474 5,780 8,474 5,780 7,535
Equity/assets ratio, % Soliditet, % 32.0 30.2 32.0 30.2 32.0 32.5
Cash flow before financing Kassaflöde före finansiering 1,683 -179 1,016 -70 2,111 1,025
Number of employees at the end of the period Antal anställda vid utgången av perioden 16,010 14,475 16,010 14,475 16,010 14,258
Reporting according to IFRS Redovisning enligt IFRS
Net sales, IFRS Nettoomsättning, IFRS 16,204 12,869 43,863 40,848 59,318 56,303
Operating profit, IFRS Rörelseresultat, IFRS 1,087 664 1,980 2,452 2,813 3,285
Pre-tax profit, IFRS Resultat före skatt, IFRS 1,050 643 1,835 2,425 2,637 3,227
Profit for the period, IFRS Periodens resultat, IFRS 840 539 1,452 2,003 2,105 2,656
Earnings per share, IFRS, SEK Resultat per aktie, IFRS, kr 2.85 1.83 4.92 6.79 7.13 9.00
Cash flow before financing, IFRS Kassaflöde före finansiering, IFRS 2,835 -594 1,795 2,411 2,610 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 September 30, 2019 are given. 
Net sales
Operating profit
Orders received