Other information
Important events during the period
Coronavirus
After around a year and a half when the corona pandemic has had the world in its clutches the Nordic countries have now opened up again. As the majority of Nordic populations have gotten vaccinated people are once again going about their daily lives much as they did before the pandemic.
The effects of the coronavirus on Peab’s operations have been limited but naturally we continue to follow developments in the pandemic so that we can closely assess any further possible effects. Peab will also continue to base our measures on The Public Health Agency of Sweden’s guidelines and instructions as well as those that correspond in the other countries we work in.
Meanwhile the pandemic has shown us what a strength it is for Peab to be the local company with the big group resources. Peab has four business areas – Construction, Civil Engineering, Industry and Project Development – that collaborate locally and a large part of input goods and personnel are our own. This gives us good control over the construction process and makes us therefore less vulnerable to production disruptions.
The AGM’s election of Board members
In accordance with the proposal of the Nomination Committee the AGM decided the Board would contract from nine to eight ordinary members elected by the AGM. The AGM reelected Karl-Axel Granlund, Liselott Kilaas, Kerstin Lindell, Fredrik Paulsson, Malin Persson, Lars Sköld and Anders Runevad and elected Magdalena Gerger as a new Board member. Anders Runevad was elected the new Chairman of the Board. The previous Chairman of the Board Göran Grosskopf and Board member Mats Paulsson declined reelection and therefore left the Board.
Peab has issued green bonds for SEK 1,500 million
On August 30, 2021 Peab issued bonds for a total value of SEK 1,500 million. The issue is divided as follows: SEK 1,000 million with a maturity of 3 years with a variable interest rate of 3 months Stibor (the Stockholm Interbank Offered Rate) plus 1.05 percentage points and SEK 500 million with a maturity of 5 years with a variable interest rate of 3 months Stibor plus 1.30 percentage points.
Funds from the issue will be used to finance investments in green and energy efficient buildings, ECO products and a more environmentally adapted production, green transportation and water and waste management. The green bonds were issued within the framework of Peab’s Swedish MTN program and the newly instituted framework for green financing. The framework has been audited by the independent company CICERO Shades of Green which has classified it at level “medium green”.
Payment regarding Group sickness insurance (AGS)
Afa Insurance has decided to pay out consolidation funds in AGS insurance. The payments are based on previous repayment of AGS premiums for the years 2004-2008. The payments will be made at the end of October and entail a positive effect on Peab’s operating profit in the fourth quarter 2021 of around SEK 150 million. This amount will be recognized in the Group under Group functions.
Important events after the period
No significant events occurred after the end of the reporting period.
Holdings of own shares
At the beginning of 2021 Peab’s own B shareholding was 1,086,984 which corresponds to 0.4 percent of the total number of shares. No changes have taken place during January – September 2021.
Related parties
The character and extent of transactions with related parties is presented in the Annual and Sustainable Report 2020, note 41. For more information about transactions with related parties during the period see business area Project Development, section Property Development. No other new significant transactions have occurred during January – September 2021.