Order situation

October – December 2024

Orders received increased by 14 percent during the fourth quarter 2024 and amounted to SEK 12,052 million (10,527). Orders received increased in both business areas Construction, Industry and Project Development. The increase in orders received in Industry is mainly attributable to paving in Finland. In Project Development we started production of several tenant-owner apartment projects/condominiums in Sweden and Finland, which has had a positive impact. Orders received in business area Civil Engineering were on the same level as the corresponding quarter last year.

January – December 2024

The level of orders received increased by 25 percent during 2024 and amounted to SEK 56,510 million (45,108). 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, the Haga-Rosenlund stage of West Link 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. In Project Development we started production of several tenant-owner apartment projects/condominiums in Sweden and Finland, which has had a positive impact. The level of orders received in business area Construction was slightly lower during the year. Orders in Construction included a swimming block in Partille for about SEK 1.3 billion. The level of orders received from the public sector has continued to be good during the year.

 

Order backlog yet to be produced at the end of the year grew and amounted to SEK 44,906 million (39,060). Of the total order backlog, 37 percent (35) is expected to be produced after 2025 (2024). Swedish operations accounted for 79 percent (82) 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 year 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 December was around SEK 13 billion, and these orders will potentially be received over the next two years.

Orders received

MSEK Oct-Dec
2024		 Oct-Dec
2023		 Jan-Dec
2024		 Jan-Dec
2023
Mkr Okt-dec
2024		 Okt-dec
2023		 Jan-dec
2024		 Jan-dec
2023
Construction Bygg 6,325 5,835 22,224 22,779
Civil Engineering Anläggning 3,229 3,274 22,453 15,090
Industry Industri 3,091 2,424 13,763 11,186
Project Development Projektutveckling 1,246 -151 2,213 136
Eliminations Elimineringar -1,839 -855 -4,143 -4,083
Group Koncernen 12,052 10,527 56,510 45,108

Order backlog

MSEK Dec 31
2024		 Dec 31
2023
Mkr 31 dec
2024		 31 dec
2023
Construction Bygg 23,188 24,469
Civil Engineering Anläggning 19,853 13,905
Industry Industri 4,282 3,954
Project Development Projektutveckling 1,536 1,620
Eliminations Elimineringar -3,953 -4,888
Group Koncernen 44,906 39,060

Project size of order backlog, December 31, 2024

Order backlog allocated over time

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

  • Commission to carry out demolition of old apartment buildings and construction of new apartment buildings in Visby. The customer is Gotlandshem. The contract is worth SEK 225 million.
  • Construction of an elementary school in Munka Ljungby. The customer is AB Ängelholmslokaler. The contract is worth SEK 161 million.
  • Construction of two apartment buildings in Oulunkylä in Helsinki. The customer is the City of Helsinki. The contract is worth EUR 13 million.
  • Renovation of twelve apartment buildings in Tromsø. The customer is Knausen Bostadsrättsförening. The contract is worth NOK 141 million.
  • Construction of a new crematorium at Hovdestalund in Västerås. The customer is the Church of Sweden. The contract is worth SEK 190 million.
  • Construction of a new nursing home in Grums. The customer is Stiftelsen Grums kommuns hyresbostäder. The contract is worth SEK 123 million.
  • Commission to build LKAB’s demonstration plant for critical minerals in Luleå. The contract is worth SEK 118 million.  
  • Construction of an office building in Nørvevika in Ålesund. The customer is the real estate company Kolvika Brygge AS. The contract is worth NOK 104 million.
  • Construction of Överby Waterworks in Trollhättan. The customer is Trollhättan Energi AB. The contract is worth SEK 580 million.
  • Construction of LKAB’s new office building in Kiruna. The customer is LKAB. The contract is worth SEK 459 million.
  • Construction of rental apartments in Trelleborg. The customer is Sjöormen AB. The contract is worth SEK 101 million.  
  • Commission to expand and rebuild underground pipelines from Lule River to Boden’s new industrial area, Boden Industrial Park. The customer is Boden Municipality. The contract is worth SEK 276 million.
  • Construction of a defense industry facility in Jyväskylä. The customer is Jykia Oy. The contract is worth EUR 11 million.
  • Construction of a new pump station with pressure lines for the Ekeby Wastewater Treatment Plant in Eskilstuna. The customer is Eskilstuna Energi och Miljö AB. The contract is worth SEK 335 million. 
  • Construction of a new county archive in Nässjö. The customer is Regionfastigheter, Region Jönköping County. The contract is worth SEK 192 million.
  • Commission to relocate a number of cultural buildings in Kiruna. The customer is LKAB. The contract is worth SEK 105 million.
  • Construction of Björkås School in Ulricehamn. The customer is Ulricehamn Municipality. The contract is worth SEK 255 million.

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

  • Brf Lunden in Lund comprising 77 apartments. The building will be environmentally certified according to the Swan, is being built with ECO-Betong (ECO-Concrete) and solar panels. The project is expected to be completed in October 2027.
  • Brf Ocean Wave in Varberg comprising 31 apartments. The building will be environmentally certified according to the Swan and is being built with solar panels and a sedum roof. The project is expected to be completed in September 2026.
  • Brf Västra Vakten in Malmö comprising 96 apartments. The buildings will be environmentally certified according to the Swan and built with ECO-Betong (ECO-Concrete), reuse, solar panels and sedum roofs. The project is expected to be completed in November 2025. The project was converted from rental apartments to tenant-owner apartments during the quarter. 
  • Brf Bellevue Deux in Örebro comprising 31 apartments. The building will be environmentally certified according to the Swan and the project is expected to be completed in February 2025. The project was converted from rental apartments to tenant-owner apartments during the quarter. 
  • Brf Skeppet in Västerås comprising 40 apartments. The building will be environmentally certified according to the Swan and built with ECO-Betong (ECO-Concrete). The project is expected to be completed in October 2025. The project was converted from rental apartments to tenant-owner apartments during the quarter. 
  • Asunto Oy Kalevanrinteen Vanamo in Tampere comprising 95 apartments. The project will be built according to the EU Taxonomy, have energy class A and will be certified according to Breeam-In-Use. The project is expected to be completed in January 2027.

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

  • Three-year federal contract in southern and northern Skåne worth SEK 99 million.
  • Three-year municipal contract in the City of Helsingborg worth SEK 77 million with an option for another year.
  • Two-year federal contract in Skåne worth SEK 57 million.
  • Four-year municipal contract in Lerum worth SEK 32 million.
  • One-year municipal contract in Svalöv worth SEK 24 million.
  • One-year federal contract in Ostrobothnia worth EUR 2 million with an option for another two years.