Order situation

July – September 2024

Orders received during the third quarter 2024 amounted to SEK 10,135 million (11,034). Orders received decreased in both business areas Construction and Civil Engineering while the level of orders received increased in business area Industry and Project Development.

January – September 2024

The level of orders received increased during January-September 2024 and amounted to SEK 44,458 million (34,581). The level of orders received increased primarily in business area Civil Engineering but also in Industry and Project Development. Orders in business area Civil Engineering include developing the New Bodø Airport in Norway for NOK 3.3 billion, Västlänken’s Haga-Rosenlund stage in Gothenburg worth about SEK 1.5 billion, a new dock in Skellefteå for about SEK 1.1 billion and operation and maintenance contracts worth around SEK 1.1 billion. Orders increased in paving in business area Industry, above all in Finland. The level of orders received fell in business area Construction during the period. Orders in Construction include a new swimming pool block in Partille worth about SEK 1.3 billion. The level of orders received from the public sector has continued to be good during the period.

Order backlog yet to be produced at the end of the period grew and amounted to SEK 47,026 million (41,669). Order backlog has primarily increased for production in the coming year and thereafter. Of the total order backlog, 77 percent (75) is expected to be produced after 2024 (2023). Swedish operations accounted for 79 percent (81) of the order backlog.

Preliminary agreements

Operations in Construction and Civil Engineering increasingly participate in dialogues early on with customers in preparation for planned projects and we are therefore experiencing a greater number of preliminary agreements, so-​called phase 1 contracts. Through the preliminary agreements Peab is contracted to arrive at, together with the customer, an optimal product with the right quality and also deal with risks and uncertainties. As of 2024, we present the potential value of the final construction contracts generated by these preliminary agreements.

At the start of 2024 the potential value was approximately SEK 19 billion. During the period January-September several projects went from phase 1 to phase 2, which meant that the projects became construction contracts and are included in Peab’s orders received. At the same time new projects continue to flow into phase 1 but there are others that fall away. The value of the construction contracts generated from these preliminary agreements at the end of September was around SEK 14 billion, and these orders will potentially be received over the next two years.

Orders received

MSEK Jul-Sep
2024		 Jul-Sep
2023		 Jan-Sep
2024		 Jan-Sep
2023		 Oct-Sep
2023/2024		 Jan-Dec
2023
Mkr Jul-sep
2024		 Jul-sep
2023		 Jan-sep
2024		 Jan-sep
2023		 Okt-sep
2023/2024		 Jan-dec
2023
Construction Bygg 4,489 5,577 15,899 16,944 21,734 22,779
Civil Engineering Anläggning 3,051 3,483 19,224 11,816 22,498 15,090
Industry Industri 3,245 2,914 10,672 8,762 13,096 11,186
Project Development Projektutveckling 327 84 967 287 816 136
Eliminations Elimineringar -977 -1,024 -2,304 -3,228 -3,159 -4,083
Group Koncernen 10,135 11,034 44,458 34,581 54,985 45,108

Order backlog

MSEK Sep 30
2024		 Sep 30
2023		 Dec 31
2023
Mkr 30 sep
2024		 30 sep
2023		 31 dec
2023
Construction Bygg 23,154 25,702 24,469
Civil Engineering Anläggning 21,596 15,118 13,905
Industry Industri 4,460 4,327 3,954
Project Development Projektutveckling 1,217 2,362 1,620
Eliminations Elimineringar -3,401 -5,840 -4,888
Group Koncernen 47,026 41,669 39,060

Project size of order backlog, September 30, 2024

Order backlog allocated over time

We received a number of major construction projects and contracts in the third quarter, including:

  • Construction of a restaurant at the P 18 regiment  on Tofta, Gotland. The customer is the Swedish Fortifications Agency. The contract is worth SEK 126 million.
  • Complete renovation of the openable road and railroad bridge North Danvik Bridge in Stockholm. The customers are AB Storstockholms Lokaltrafik and the City of Stockholm’s Transport Department. The contract is worth SEK 299 million.
  • Construction of Gothenburg’s new station building which will be the largest of three entrances for the West Link station Centralen. The customer is Jernhusen. The contract is worth SEK 870 million.
  • Renovation of 146 apartments in Tromsø. The customer is Rundvannet borettslag. The contract is worth NOK 109 million.
  • Construction of an elementary and middle school in Staffanstorp. The customer is Staffanstorps kommunfastigheter AB. The contract is worth SEK 239 million.  
  • Commission to carry out the water and wastewater project Søråsen stage four in Bærum. The customer is Bærum Municipality. The contract is worth NOK 127 million.
  • Renovation and extension of the old welding and boiler workshop “Hall 259” in Varvsstaden in Malmö. The customer is Varvsstaden AB. The contract is worth SEK 454 million.  
  • Construction of Djupadal School in Jönköping. The customer is Jönköping Municipality. The contract is worth SEK 160 million.
  • Renewed contract to be the general contractor for electricity grid services to Vattenfall Eldistribution AB in Central Norrland. The contract runs for three years and is worth SEK 105 million.
  • Construction of a new mobility building with parking spaces in Sundsvall. The customer is Urban Hub AB. The contract is worth SEK 109 million.

The following own housing developments were production-started in the third quarter:

  • Turun Station North in Åbo comprising 64 apartments. The building will be built according to the guidelines in the EU Taxonomy, have energy class A and only green electricity will be used in construction. The project is expected to be completed in the first quarter 2026.
  • Viriktunet in Sandefjord comprising 44 apartments. The project is expected to be completed in the first quarter 2026.

We received a number of paving contracts in the third quarter, including:

  • One-year municipal contract in Gothenburg worth SEK 23 million.
  • One-year federal contract in the Stockholm region worth SEK 20 million.
  • One-year municipal contract in Staffanstorp worth SEK 12 million.
  • One-year municipal contract in Vejle worth DKK 52 million.
  • One-year regional contract close to Ringstedt worth DKK 11 million.
  • One-year federal contract in Southwest Finland worth EUR 8.5 million.
  • One-year federal contract in Central Finland worth EUR 2.0 million.
  • One-year federal contract in Nyland worth EUR 1.7 million.
  • Paving commission from Skanska for the extension of E10 Hålogaland Road between Nordland and Troms worth NOK 256 million.
  • Paving commission from Syltern for the extension of E6 Lille Majavaten between Trøndelag and Majahaugen worth NOK 44 million.