Net sales and profit

January – September 2026

Group net sales increased by six percent during the period January-September 2026 and amounted to SEK 43,853 million (41,464). Adjusted for divested units and exchange rate effects, net sales increased by seven percent. Net sales for the latest rolling 12-month period amounted to SEK 60,978 million compared to SEK 58,589 million for the full year 2025. Projects for the public sector remain on a high level and the share of public sector customers in net sales calculated on a rolling 12-month basis was 55 percent (56) while private customers made up 45 percent (44).

Net sales in business area Construction increased by five percent during the period. Net sales increased primarily in Sweden but declined in Norway due to the divestment of K Nordang AS, which was sold during the first quarter to a company jointly owned by Peab and KB Gruppen. There was a high level of activity in business area Civil Engineering during the period and net sales increased by eleven percent. The increase is largely due to several major ongoing infrastructure projects. Net sales in business area Industry increased by eight percent and the increase is related to both units Swerock/Asphalt and Construction system. Net sales in Project Development were lower compared to the corresponding period last year and the decrease is mainly related to Housing Development especially in Norway and Finland.

Group operating profit increased during the period and amounted to SEK 2,065 million (1,630) and the operating margin improved to 4.7 percent (3.9). Costs for Peab’s long-term Performance Share Programs, which are under construction and include key personnel in the Group, are reported in Group functions. The programs contribute to retaining and attracting competent personnel and strengthen the connection between reward and shareholder value. During the period higher costs for the Performance Share Programs abetted lowering operating profit in Group functions. For the latest rolling 12-month period the Group operating margin was 5.0 percent compared to 4.5 percent for the full year 2025.

The operating margin in business area Construction improved to 3.0 percent (2.2). The divestment of K Nordang AS to the jointly owned company resulted in a capital gain of SEK 114 million. Compared to the corresponding period last year, the transaction had a net impact of approximately SEK 90 million. The operating margin in business area Civil Engineering improved to 4.4 percent (3.9). Several of the units in Civil Engineering in Sweden reported higher earnings during the period. All in all, the operating margin for construction contract operations amounted to 3.6 percent (2.9). Operating profit in business area Industry improved and the operating margin increased to 7.4 percent (5.8), of which the operating margin in Swerock/Asphalt was 8.1 percent (6.8) and 3.8 percent (0.8) in Construction system. Earnings in paving operations have been high over the past two quarters in all our Nordic countries. High activity in paving and many large ongoing infrastructure projects are contributing positively to Swerock’s business. During 2025, a review and implementation of measures regarding part of the Norwegian paving and mineral aggregates operations were initiated due to low profitability, which resulted in increased costs. In connection with the discontinuation of operations capital gains from the sale of fixed assets had a positive effect during the period January-September 2026. Increased activity in business area Industry’s unit Construction system in both prefab and rentals contributed to higher operating profit. In business area Project Development operating profit amounted to SEK 120 million (118) and the operating margin was 5.4 percent (4.5). The operating margin in the unit Housing Development was 4.1 percent (-1.0). No major transactions have occurred in the unit Property Development.

Group depreciation and write-​​downs for the period were SEK -1,101 million (-1,071).

Elimination and reversal of internal profit in our own development projects affected operating profit during the period by net SEK -31 million (30).

Net financial items amounted to SEK -220 million (-890) of which net interest was SEK -262 million (-258). The comparable period was charged with SEK -611 million from the effect of the settlement regarding Mall of Scandinavia.

Pre-​tax profit was SEK 1,845 million (740). Profit for the period was SEK 1,541 million (572).

Seasonal variations

Group op­er­a­tions, par­tic­u­lar­ly in In­dus­try and Civil En­gi­neer­ing, are nor­mal­ly af­fect­ed by fluc­tu­a­tions that come with the cold weath­er dur­ing the win­ter half of the year. The first quar­ter is usu­al­ly weak­er than the rest of the year.