Report on the Group income statement, IFRS

Group net sales according to IFRS decreased by two percent during 2021 and amounted to SEK 58,923 million (59,852). Even adjusted for acquired and divested units net sales decreased by two percent. The adjustment of our own housing development projects to the completion method affected net sales by SEK -1,103 million (2,491). During the year more homes have been production started than completed. In the comparable period more homes were completed than production started.

Operating profit according to IFRS for 2021 amounted to SEK 2,975 million (3,922). Last year included the effect of the distribution of Annehem Fastigheter by SEK 952 million. The operating margin was 5.0 percent (6.6). The adjustment of our own housing development projects to the completion method affected operating profit by SEK -152 million (331). Peab acquired YIT’s Nordic paving and mineral aggregates operations on April 1, 2020. The acquired operations have a very clear seasonal pattern which means the first quarter carries considerable deficits since the season starts in the second quarter. If the acquisition had taken place on January 1, 2020 operating profit in the first quarter would have been affected by SEK -297 million. Other operating income for 2021 includes the repayment of AGS premiums of SEK 179 million.