Business area Construction
With local roots close to customers business area Construction does construction work for both external and internal customers. Construction projects include everything from new production of housing, public and commercial premises to renovations and extensions as well as construction maintenance.
Operations in business area Construction are run via some 150 local offices around the Nordic region, organized in eleven regions in Sweden, three in Norway and two in Finland. There are specialized housing production units in Stockholm, Gothenburg and the Öresund region. Construction maintenance is a nationwide organization in Sweden focused on major cities. Other regions are responsible for all types of construction projects in their geographic area.
Net sales and profit
July – September 2025
Net sales for the third quarter 2025 increased by two percent and amounted to SEK 5,238 million (5,130). Operating profit increased during the quarter and amounted to SEK 116 million (96) and the operating margin improved to 2.2 percent (1.9).
January – September 2025
Net sales for January-September 2025 decreased by four percent and amounted to SEK 16,514 million (17,276). The decrease is due to less activity in new housing production that has not been fully compensated by other types of projects.
The proportion of housing construction in net sales has fallen sharply while premise construction, primarily for the public sector, has increased. Calculated on a rolling 12 month basis, per September 30, 2025 housing accounted for 24 percent (29) of net sales.
Operating profit increased during the period and amounted to SEK 364 million (320) and the operating margin improved to 2.2 percent (1.9). The operating margin for the latest rolling 12 month period was 2.0 percent compared to 1.7 percent for the full year 2024.
Orders received and order backlog
July – September 2025
The level of orders received during the third quarter was 3,994 SEK million (4,489). Orders received in the quarter include construction of Hitachi Energy’s new campus at Finnslätten in Västerås for SEK 1.1 billion.
January – September 2025
The level of orders received increased during the period and amounted to SEK 19,380 million (15,899). There is a large portion of projects for the public sector in orders received. Calculated on a rolling 12 month period the level of orders received was 111 percent of net sales.
Order backlog on September 30, 2025 was SEK 26,211 million (23,154). The proportion of housing projects at the end of the period was 29 percent (27).
Net sales
per product area, rolling 12 months
per geographic market, rolling 12 months
Order backlog, September 30, 2025
per product area
per project size
Key ratios
| Jul-Sep 2025 | Jul-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Oct-Sep 2024/2025 | Jan-Dec 2024 | ||
| Jul-sep 2025 | Jul-sep 2024 | Jan-sep 2025 | Jan-sep 2024 | Okt-sep 2024/2025 | Jan-dec 2024 | ||
| Net sales, MSEK | Nettoomsättning, Mkr | 5,238 | 5,130 | 16,514 | 17,276 | 23,055 | 23,817 |
| Operating profit, MSEK | Rörelseresultat, Mkr | 116 | 96 | 364 | 320 | 460 | 416 |
| Operating margin, % | Rörelsemarginal, % | 2.2 | 1.9 | 2.2 | 1.9 | 2.0 | 1.7 |
| Orders received, MSEK | Orderingång, Mkr | 3,994 | 4,489 | 19,380 | 15,899 | 25,705 | 22,224 |
| Orders received/net sales, % | Orderingång/nettoomsättning, % | 76 | 88 | 117 | 92 | 111 | 93 |
| Order backlog, MSEK | Orderstock, Mkr | 26,211 | 23,154 | 26,211 | 23,154 | 26,211 | 23,188 |
| Operating cash flow, MSEK | Operativt kassaflöde, Mkr | 1,343 | -74 | 1,649 | 90 | 1,556 | -3 |
| Average number of employees | Medeltal antal anställda | 4,192 | 4,476 | 4,184 | 4,519 | 4,228 | 4,477 |