Peab Ab Class B · OMXSTO:PEAB_B
Peab Ab Class B — Q3 2026 Earnings Presentation
39 slides from Peab Ab Class B's earnings presentation, October 2026
Slide 1: The Nordic Community Builder – Q3 January–September
THE NORDIC COMMUNITY BUILDER
Slide 2: Housing investments increase from low levels
MARKET OUTLOOK Housing investments increase from low levels Started-up housing investments, new and renovations 2026 2027 2028 Sweden 2026 i 2027 2028 Norway → → 2026 2027 2028 Finland → Source: Prognoscentret
Slide 3: Public sector and industry investments drive premise construction
MARKET OUTLOOK Public sector and industry investments drive premise construction Started-up premise construction investments, new and renovations 2026 2027 2028 Sweden → → → 2026 2027 2028 Norway →( ) 2026 2027 2028 Finland ↑( ) (↓) Source: Prognoscentret
Slide 4: Continued high level of investments in civil engineering
MARKET OUTLOOK Continued high level of investments in civil engineering Civil engineering investments 2026 2027 2028 Sweden 2026 2027 2028 Norway → → → 2026 2027 2028 Finland → → → Source: Prognoscentret
Slide 5: Stable investment levels in the Nordic market
MARKET OUTLOOK Stable investment levels in the Nordic market Total construction and civil engineering investments, new and renovations 2026 2027 2028 Sweden → 2026 2027 2028 Norway → → → 2026 2027 2028 Finland →( ) → Source: Prognoscentret
Slide 6: Business area Construction
Business area Construction Elementary School Alta, Norway
Slide 7: Business area Construction
Business area Construction Jul-Sep Jul-Sep Oct 2025- Jan-Dec MSEK 2026 2025 Sep 2026 2025 Net sales 5,550 5,238 24,503 23,683 Operating profit 139 116 666 512 Operating margin, % 2.5 2.2 2.7 2.2
Slide 8: Stable level of orders received and high order backlog
BUSINESS AREA CONSTRUCTION Stable level of orders received and high order backlog Orders received, MSEK 14,000 12,088 12,000 10,000 Order backlog 8,784 8,000 6,000 4,489 6,325 6,602 5,918 6,742 4,630 30.5 BSEK (26.2) 3,994 4,000 2,000 0,000 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326
Slide 9: New contracts in the third quarter
BUSINESS AREA CONSTRUCTION New contracts in the third quarter Town hall Production and office Hospital renovation New school renovation space (14 MEUR) (132 MNOK) (440 MSEK) (349 MSEK) Botkyrka Landskrona Vaasa Senja
Slide 10: Allocation per product area
BUSINESS AREA CONSTRUCTION Allocation per product area Net sales, rolling 12 months Order backlog, September 30, 2026 14% 12% Housing Housing 24% Construction maintenance Construction maintenance 7% Sports facilities 9% 29% Sports facilities Industrial Industrial Offices Offices 11% 7% Logistics 12%
Slide 11: Business area Civil Engineering
Business area Civil Engineering Paving Helsinki, Finland
Slide 12: Business area Civil Engineering
Business area Civil Engineering Jul-Sep Jul-Sep Oct 2025- Jan-Dec MSEK 2026 2025 Sep 2026 2025 Net sales 4,576 4,248 19,016 17,607 Operating profit 192 169 829 704 Operating margin, % 4.2 4.0 4.4 4.0
Slide 13: Lower level of orders received in the quarter but high order backlog
BUSINESS AREA CIVIL ENGINEERING Lower level of orders received in the quarter but high order backlog Orders received, MSEK 8,000 7,000 6,682 6,385 6,000 4,870 Order backlog 5,000 21.0 4,384 4,083 4,000 3,472 3,051 3,229 3,000 2,694 BSEK (20.9) 2,000 1,000 0,000 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q22
Slide 14: Allocation per product area
BUSINESS AREA CIVIL ENGINEERING Allocation per product area Net sales, rolling 12 months Order backlog, September 30, 2026 16% Operations and 22% Operations and maintenance maintenance 33% 4% Energy Energy Streets and groundwork 42% Streets and groundwork 6% Ports and sea Ports and sea Industrial In
Slide 15: Business area Industry
a Industry iness area Bus
Slide 16: Business area Industry
Business area Industry Jul-Sep Jul-Sep Oct 2025- Jan-Dec MSEK 2026 2025 Sep 2026 2025 Net sales 7,302 6,953 21,169 20,037 of which Swerock/Asphalt 6,353 6,194 17,279 16,770 of which Construction system 1,047 855 4,313 3,672 Operating profit 996 875 1,805 1,485 of which Swerock/Asphalt 942 875 1,656
Slide 17: Stable level of orders received and order backlog
BUSINESS AREA INDUSTRY Stable level of orders received and order backlog Orders received, MSEK 4,500 4,082 4,000 3,835 3,630 3,500 3,245 3,341 3,091 Order backlog 2,940 3,000 2,500 2,000 2,440 + 2,460 5.1 BSEK (4.9) 1,500 1,000 0,500 0,000 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326
Slide 18: Unchanged capital employed and improved return on capital
BUSINESS AREA INDUSTRY Unchanged capital employed and improved return on capital Capital employed and return on capital employed* 12,000 20% 10,688 10,480 10,391 10,435 18% 9,920 9,735 10,034 10,000 9,198 9,269 16% 14% 8,000 12% Return on capital employed 6,000 10% 4,000 8% 6% 18.4 % (14.7) 4% 2,000
Slide 19: Business area Project Development
Business area Project Development Brf Strandängen Åkersberga, Sweden
Slide 20: Business area Project Development
Business area Project Development Jul-Sep Jul-Sep Oct 2025- Jan-Dec MSEK 2026 2025 Sep 2026 2025 Net sales 841 892 3,943 4,345 Operating profit 77 36 240 238 Operating margin, % 9.2 4.0 6.1 5.5 of which Housing Development 8.5 -5.7 3.2 0.2
Slide 21: Ongoing production and sale of homes
BUSINESS AREA PROJECT DEVELOPMENT Ongoing production and sale of homes Jul-Sep Jul-Sep Oct 2025- Jan-Dec Number 2026 2025 Sep 2026 2025 Total number of started-up homes 114 0 1,105 1,161 Total number of sold homes 157 301 938 1,248 Sep 30, Sep 30, Dec 31, Number 2026 2025 2025 Total number of homes
Slide 22: Low return on capital employed
BUSINESS AREA PROJECT DEVELOPMENT Low return on capital employed Capital employed and return on capital employed* 25,000 5% 19,767 19,199 19,138 20,000 4% 18,229 18,435 18,220 18,634 18,522 18,675 15,000 3% Return on capital employed 10,000 2% 1.5 % (3.6) 5,000 1% 0,000 0% Q324 Q424 Q125 Q225 Q325 Q
Slide 23: The Peab Group
i J | \ The Peab Group ; ‘ EJ \ oa ri a "ES
Slide 24: Segment reporting
THE GROUP Segment reporting Jul-Sep Jul-Sep Oct 2025- Jan-Dec MSEK 2026 2025 Sep 2026 2025 Net sales 16,304 15,602 60,978 58,589 Operating profit 1,296 1,148 3,061 2,626 Operating margin, % 7.9 7.4 5.0 4.5
Slide 25: High share of public customers
THE GROUP High share of public customers Net sales, rolling 12 months 45% (44) 55% (56) Public customers Private customers
Slide 26: Somewhat lower level of orders received in the quarter
THE GROUP Somewhat lower level of orders received in the quarter Orders received, MSEK 20,000 18,336 18,000 16,574 16,000 14,947 15,561 Orders received 9.4 14,000 13,183 12,052 12,000 10,135 10,223 10,000 9,405 8,000 BSEK (10.2) 6,000 4,000 2,000 0,000 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326
Slide 27: High order backlog and high level of preliminary contracts
THE GROUP High order backlog and high level of preliminary contracts MSEK 70,000 60,000 50,000 Order backlog Preliminary contracts 40,000 per September 30, 2026 30,000 20,000 52.4 Appr. 20 10,000 BSEK (48.3) BSEK 0,000 2024 2024 2024 2025 2025 2025 2025 2026 2026 2026 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 O
Slide 28: Order backlog allocated over time
THE GROUP Order backlog allocated over time MSEK 30,000 28,273 24,689 25,000 20,000 77% 15,000 12,510 12,001 12,165 11,080 10,000 after current 5,000 financial year 0,000 (77) Current financial year Coming financial year Thereafter September 30, 2025 September 30, 2026
Slide 29: Strong cash flow in the quarter
THE GROUP Strong cash flow in the quarter Cash flow before financing, MSEK 3,000 2,792 2,500 2,250 2,000 1,900 1,719 1,500 1,195 1,000 0,500 0,000 -0,500 -363 -560 -608 -663 -1,000 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326
Slide 30: Lower net debt
THE GROUP Lower net debt Net debt and net debt/equity ratio 12,000 0,7 10,000 0,6 1,915 0,5 8,000 2,237 1,818 2,042 1,944 1,823 0,4 Net debt 6,000 1,818 2,015 4,000 6,397 6,681 6,322 7,610 6,168 2,131 6,896 0,3 0,2 7.2 BSEK (8.0) 5,355 5,197 2,000 4,269 0,1 0,000 0,0 Q324 Q424 Q125 Q225 Q325 Q425 Q1
Slide 31: Target checkpoint
UTFORLAW Target checkpoin
Slide 32: Four target areas, nine external targets
Four target areas, nine external targets Most satisfied Best eNPS customers CSI workplace always over benchmark always over 75 Zero vision Serious accidents Through a contracting trend Operating margin Most profitable Leader in social Carbon dioxide Carbon dioxide intensity >6 % intensity Input good
Slide 33: Target: Operating margin over 6 percent
MOST PROFITABLE COMPANY Target: Operating margin over 6 percent Operating margin, Group 7 6,2 Target: >6% 6 5.2 5 4.7 4.5 5 4.3 4 3.2 3 2 1 0 2020 2021 2022 2023 2024 2025 2026* *Calculated on rolling 12 months per September 30, 2026
Slide 34: Target: Net debt/equity ratio within interval 0.3-0.7
MOST PROFITABLE COMPANY Target: Net debt/equity ratio within interval 0.3-0.7 Net debt/equity ratio, Group 1,0 0,8 0.6 0,6 0.5 0.5 Target interval: 0.4 0.4 0.3-0.7 0,4 0.3 0,2 0.2 0,0 2020 2021 2022 2023 2024 2025 2026* *Per September 30, 2026
Slide 35: Target: Zero vision for workplace accidents
BEST WORKPLACE Target: Zero vision for workplace accidents Serious accidents, rolling 12 months, category 4 70 66 60 49 48 49 50 39 41 Target: 40 28 30 30 33 Contracting trend 28 30 20 20 18 20 25 21 19 10 19 18 10 13 0 2020 2021 2022 2023 2024 2025 2026 Own personnel Subcontractors Total
Slide 36: Peab grows with greater profitability
JAN-SEP 2026 Peab grows with greater profitability • The market outlook for the Nordic construction and civil engineering market remains largely unchanged • Continued growth with improved operating profit and operating margin • Lower level of orders received in the quarter, order backlog at high lev
Slide 37: Q&A
Q&A
Slide 38: Next report: Full-year report 2026
Next report: Full-year report 2026 February 3, 2027 Capital Markets Day February 18, 2027
Slide 39: Thank you!
Thank you!