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.
Net sales and profit
July – September 2026
Net sales increased by six percent for the third quarter 2026 and amounted to SEK 5,550 million (5,238). Net sales in both Sweden and Finland increased but decreased in Norway as a result of less activity since part of the business was sold in the first quarter 2026. A large part of net sales during the quarter consisted of various types of premise construction for the public sector.
Operating profit increased during the quarter and amounted to SEK 139 million (116) and the operating margin improved to 2.5 percent (2.2)
January – September 2026
Net sales for the period January-September 2026 increased by five percent and amounted to SEK 17,334 million (16,514). Net sales increased mainly in Sweden but decreased 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. A large part of net sales during the period consisted of various types of premise construction for the public sector. Adjusted for divested operations and exchange rate effects, net sales increased by eight percent. Calculated on a rolling 12-month basis per September 30, 2026 housing accounted for 24 percent (24) of net sales.
Operating profit increased during the period and amounted to SEK 518 million (364) and the operating margin improved to 3.0 percent (2.2).
The sale of K Nordang AS to the jointly owned company generated capital gains of SEK 114 million. Compared to the corresponding period last year the transaction had a net impact of around SEK 90 million. The new jointly owned company, which conducts construction operations in Western Norway, is owned 62.5 percent by KB Gruppen and 37.5 percent by Peab. The company is recognized as an associated company in business area Construction.
The operating margin in Construction for the latest rolling 12-month period was 2.7 percent compared to 2.2 percent for the full year 2025.
Orders received and order backlog
July – September 2026
The level of orders received increased during the quarter and amounted to SEK 4,630 million (3,994). There is a broad range of products and geographies in orders received but the portion of projects for the public sector is still large.
January – September 2026
The level of orders was high during the period and amounted to SEK 23,460 million (19,380). Several major projects were order registered during the period, including construction of the data center FIN04A in Kouvola, Finland worth EUR 130 million and the Oceanhamn Swimming Pool in Helsingborg worth SEK 825 million. There is a broad range of products and geographies in orders received but the portion of projects for the public sector is still large. Calculated on a rolling 12-month basis, the level of orders received was 120 percent of net sales.
Order backlog on September 30, 2026 was SEK 30,492 million (26,211). The divestment of K Nordang during the first quarter entailed a reduction in order backlog of about SEK 900 million. The portion of housing projects at the end of the period was 29 percent (29).
Net sales
per product area, rolling 12 months
per geographic market, rolling 12 months
Order backlog, September 30, 2026
per product area
per project size
Key ratios
| Jul-Sep 2026 | Jul-Sep 2025 | Jan-Sep 2026 | Jan-Sep 2025 | Oct-Sep 2025/2026 | Jan-Dec 2025 | ||
| Jul-sep 2026 | Jul-sep 2025 | Jan-sep 2026 | Jan-sep 2025 | Okt-sep 2025/2026 | Jan-dec 2025 | ||
| Net sales, MSEK | Nettoomsättning, Mkr | 5,550 | 5,238 | 17,334 | 16,514 | 24,503 | 23,683 |
| Operating profit, MSEK | Rörelseresultat, Mkr | 139 | 116 | 518 | 364 | 666 | 512 |
| Operating margin, % | Rörelsemarginal, % | 2.5 | 2.2 | 3.0 | 2.2 | 2.7 | 2.2 |
| Orders received, MSEK | Orderingång, Mkr | 4,630 | 3,994 | 23,460 | 19,380 | 29,378 | 25,298 |
| Orders received/net sales, % | Orderingång/nettoomsättning, % | 83 | 76 | 135 | 117 | 120 | 107 |
| Order backlog, MSEK | Orderstock, Mkr | 30,492 | 26,211 | 30,492 | 26,211 | 30,492 | 25,134 |
| Operating cash flow, MSEK | Operativt kassaflöde, Mkr | 647 | 1,343 | 650 | 1,649 | 577 | 1,576 |
| Average number of employees | Medeltal antal anställda | 3,791 | 4,192 | 3,815 | 4,184 | 3,881 | 4,163 |