Slide 1: Q1 January – March 2025
Q1 January – March 2025
Slide 2: Housing investments are expected to increase but from a low level
MARKET OUTLOOK Housing investments are expected to increase but from a low level Started-up housing investments, new and renovations 2025 2026 2027 Sweden ↑ ↑ i 2025 2026 2027 Norway 2025 2026 2027 Finland (↑) (↑) Source: Prognoscentret
Slide 3: Started-up and estimated need for housing in Sweden
Started-up and estimated need for housing in Sweden 1994–2033 80 000 Started-up housing by type of home 70 000 60 000 52,300 50 000 40 000 30,000 30 000 20 000 10 000 0 Apartment buildings Single homes Need for new housing (Boverket) Need for new housing (Swedbank) Source: Statistics Sweden, Boverke
Slide 4: Varying investment levels in premise construction
MARKET OUTLOOK Varying investment levels in premise construction Started-up premise construction investments, new and renovations 2025 2026 2027 Sweden → → 2025 2026 2027 Norway → 2025 2026 2027 Finland Source: Prognoscentret
Slide 5: Continued high level of investments in civil engineering
MARKET OUTLOOK Continued high level of investments in civil engineering Civil engineering investments 2025 2026 2027 Sweden 2025 2026 2027 Norway →( ) → 2025 2026 2027 Finland →( ) → Source: Prognoscentret
Slide 6: 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 2025 2026 2027 Sweden 2025 2026 2027 Norway → 2025 2026 2027 Finland → Source: Prognoscentret
Slide 7: Business area Construction
Business area Construction Göteborg Grand Central Göteborg
Slide 8: Business area Construction
Business area Construction Jan-Mar Jan-Mar Apr 2024- Jan-Dec MSEK 2025 2024 Mar 2025 2024 Net sales 5,317 5,788 23,346 23,817 Operating profit 111 101 426 416 Operating margin, % 2.1 1.7 1.8 1.7
Slide 9: High level of orders received in the first quarter
BUSINESS AREA CONSTRUCTION High level of orders received in the first quarter Orders received, MSEK 10,000 8,784 9,000 8,000 7,000 6,563 6,654 6,325 Order backlog 6,000 5,577 5,835 5,000 4,000 4,804 4,756 4,489 26.7 BSEK (25.5) 3,000 2,000 1,000 0,000 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125
Slide 10: New contracts in the first quarter
BUSINESS AREA CONSTRUCTION New contracts in the first quarter School of Business, New school and New bus depot New central kitchen Economics and Law health center (MSEK 339) (MEUR 35) (MSEK 350) (MNOK 543) Gothenburg Malmö Vantaa Karasjok
Slide 11: Allocation per product area
BUSINESS AREA CONSTRUCTION Allocation per product area Net sales, rolling 12 months Order backlog March 31, 2025 12% 14% Housing Housing 26% Construction maintenance 29% Construction maintenance 9% Sports facilities 9% Sports facilities Industrial Industrial Offices Offices 13% Logistics Logistics 8
Slide 12: Business area Civil Engineering
Business area Civil Engineering Lock canal Södertälje
Slide 13: Business area Civil Engineering
Business area Civil Engineering Jan-Mar Jan-Mar Apr 2024- Jan-Dec MSEK 2025 2024 Mar 2025 2024 Net sales 3,668 3,558 16,649 16,539 Operating profit 114 77 536 499 Operating margin, % 3.1 2.2 3.2 3.0
Slide 14: Stable level of orders received and high order backlog
BUSINESS AREA CIVIL ENGINEERING Stable level of orders received and high order backlog Orders received, MSEK 9,000 8,188 7,985 8,000 7,000 6,000 Order backlog 4,870 5,000 4,000 3,000 4,442 3,891 3,483 3,274 3,051 3,229 21.1 BSEK (18.6) 2,000 1,000 0,000 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125
Slide 15: New contracts in the first quarter
BUSINESS AREA CIVIL ENGINEERING New contracts in the first quarter New combined heat Continued work on and power plant New E22 connection wastewater treatment plant (MSEK 388) (MSEK 335) (MSEK 368) Örtofta Lund Stockholm
Slide 16: Allocation per product area
BUSINESS AREA CIVIL ENGINEERING Allocation per product area Net sales, rolling 12 months Order backlog per March 31, 2025 18% 19% Operations and Operations and maintenance maintenance 29% Energy Energy 36% 5% 5% Streets and Streets and groundwork groundwork Ports and sea Ports and sea 5% Industrial
Slide 17: Business area Industry
Business area Industry Paving Hamina, Finland
Slide 18: Business area Industry
Business area Industry Jan-Mar Jan-Mar Apr 2024- Jan-Dec MSEK 2025 2024 Mar 2025 2024 Net sales 2,283 2,411 21,420 21,548 Operating profit -549 -479 1,345 1,415 Operating margin, % -24.0 -19.9 6.3 6.6
Slide 19: Stable level of orders received and order backlog
BUSINESS AREA INDUSTRY Stable level of orders received and order backlog Orders received, MSEK 5,000 4,495 4,500 4,000 3,835 3,500 3,245 Order backlog 3,159 3,091 2,914 2,932 3,000 2,500 2,000 2,689 2,424 7.4 BSEK (6.2) 1,500 1,000 0,500 0,000 Q123 Q223 Q323 Q424 Q124 Q224 Q324 Q424 Q125
Slide 20: Allocation per product area
BUSINESS AREA INDUSTRY Allocation per product area Net sales, rolling 12 months 6% Paving 8% Concrete 8% Mineral Aggregates Transportation and Machines 14% 54% Rentals Construction System 10%
Slide 21: Lower tied-up capital and improved return on capital
BUSINESS AREA INDUSTRY Lower tied-up capital and improved return on capital Capital employed and return on capital employed* 14,000 14% 11,885 11,805 12,000 11,339 12% 10,762 10,699 10,806 10,688 9,920 9,735 10,000 10% Return on 8,000 8% capital employed 13.0 6,000 6% 4,000 4% % (8.2) 2,000 2% 0,000
Slide 22: Business area Project Development
Business area Project Development Housing project, Bankløkka Horten, Norway
Slide 23: Business area Project Development
Business area Project Development Jan-Mar Jan-Mar Apr 2024- Jan-Dec MSEK 2025 2024 Mar 2025 2024 Net sales 991 1,055 4,206 4,270 Operating profit 83 246 565 728 Operating margin, % 8.4 23.3 13.4 17.0 of which Housing Development 3.6 -1.5 -1.3 -2.7
Slide 24: Production start-ups of own housing developments
BUSINESS AREA PROJECT DEVELOPMENT Production start-ups of own housing developments Jan-Mar Jan-Mar Apr 2024- Jan-Dec Number 2025 2024 Mar 2025 2024 Tenant-owner apartments/ 336 137 856 657 condominiums of which converted from homes on our 40 - 249 209 own balance sheet Rentals - - - - Homes on our
Slide 25: Sold homes
BUSINESS AREA PROJECT DEVELOPMENT Sold homes Jan-Mar Jan-Mar Apr 2024- Jan-Dec Number 2025 2024 Mar 2025 2024 Tenant-owner apartments/ 226 166 770 710 condominiums Rentals - 139 159 298 Homes on our own balance 46 - 69 23 sheet Total number of sold homes 272 305 998 1,031
Slide 26: Ongoing production of homes
BUSINESS AREA PROJECT DEVELOPMENT Ongoing production of homes Mar 31 Mar 31 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 1,207 1,866 1,056 condominiums of which sold share (%) 43 61 45 Rentals 80 320 80 of which sold share (%) 100 36 100 Homes on our own balance sheet 623 624 436 of which
Slide 27: Completed and repurchased homes
BUSINESS AREA PROJECT DEVELOPMENT Completed and repurchased homes Mar 31 Mar 31 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 372 254 266 condominiums Rentals 306 225 306 Total number of completed 678 479 572 and repurchased homes
Slide 28: Property projects
BUSINESS AREA PROJECT DEVELOPMENT Property projects Recognized Adopted Rentable Degree Completion Completion Type of project Location value, investment, area, m2 rented, % time point level, % MSEK MSEK Ongoing Retail, office building Malmö 8,300 43 114 592* Q3-2027 19 and parking * Completed Office
Slide 29: Same level of capital employed
BUSINESS AREA PROJECT DEVELOPMENT Same level of capital employed Capital employed and return on capital employed* 25,000 8% 7% 19,767 20,000 18,435 18,017 18,093 18,334 18,408 18,229 6% 17,351 16,226 15,000 5% Return on capital employed 4% 10,000 3% 2% 3.4 % (2.8) 5,000 1% 0,000 0% Q123 Q223 Q323 Q4
Slide 30: The Peab Group
The Peab Group
Slide 31: Segment reporting
THE GROUP Segment reporting Jan-Mar Jan-Mar Apr 2024- Jan-Dec MSEK 2025 2024 Mar 2025 2024 Net sales 10,925 11,141 58,481 58,697 Operating profit -278 -106 2,591 2,763 Operating margin, % -2.5 -1.0 4.4 4.7
Slide 32: Geographic spread in the Nordic region
THE GROUP Geographic spread in the Nordic region Net sales, rolling 12 months 11% 71% 16% (11) (73) (14) 2% (2)
Slide 33: Increased share of public customers
THE GROUP Increased share of public customers Net sales, rolling 12 months 44% (50) 56% (50) Public customers Private customers
Slide 34: High order backlog and continued good risk diversification
THE GROUP High order backlog and continued good risk diversification Orders received Order backlog Share of projects under MSEK 500 16.6 52.0 73% BSEK (17.9) BSEK (47.8) (76)
Slide 35: High order backlog
THE GROUP High order backlog Order backlog allocated over time, MSEK 30,000 27,758 25,912 25,000 20,000 16,341 15,000 13,842 10,000 8,055 7,856 47% after current 5,000 financial year 0,000 (46) Current financial year Coming financial year Thereafter March 31, 2024 March 31, 2025 The potential worth
Slide 36: First quarter affected by season
THE GROUP First quarter affected by season Cash flow before financing, MSEK 2,000 1,719 1,462 1,500 1,195 1,000 450 0,500 0,000 -95 -0,500 -218 -363 -1,000 -908 -1,500 -2,000 -2,500 -2,321 -3,000 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125
Slide 37: Lower net debt
THE GROUP Lower net debt Net debt and net debt/equity ratio 14,000 0,9 0,8 12,000 0,7 10,000 2,868 0,6 2,918 2,272 8,000 2,649 2,237 0,5 Net debt 2,685 2,042 1,944 2,612 6,000 4,000 8,849 7,255 7,313 0,4 0,3 8.3 BSEK (9.1) 5,991 6,490 6,397 6,681 6,322 0,2 5,372 2,000 0,1 0,000 0,0 Q123 Q223 Q323 Q4
Slide 38: Target checkpoint
‘ Target checkpoint
Slide 39: Four target areas, nine external targets
Four target areas, nine external targets Most satisfied Best workplace eNPS customers CSI 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 company >6 % responsibilt
Slide 40: 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 4.8 4.9 4.7 5 4.7 4.5* 4.3 4.4 4 3.2 3 2.5** 2 1 0 2017 2018 2019 2020* 2021 2022 2023** 2024 2025*** *Operating margin 4.5% excl. effect of the distribution of Annehem Fastigheter of MSEK
Slide 41: 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 0,6 0,5 0,5 Target interval: 0,5 0,4 0.3-0.7 0,3 0,3 0,2 0,2 0,1 0,0 2017 2018 2019 2020 2021 2022 2023 2024 2025* * Per March 31, 2025 Years 2017-2018 are not translated accor
Slide 42: Zero vision for workplace accidents
BEST WORKPLACE Zero vision for workplace accidents Serious accidents, rolling 12 months, category 4 60 54 50 48 48 49 48 43 44 40 41 39 42 40 36 34 32 32 33 33 Target: 30 30 30 30 30 Mål: Fallande trend 30 28 25 27 27 26 24 26 26 28 Contracting trend 18 16 18 20 18 19 18 20 20 20 20 16 23 21 21 18 1
Slide 43: Stable start of the year
JAN-MAR 2025 Stable start of the year • Stable market outlook for the Nordic construction and civil engineering market • High level of orders received and order backlog • First quarter clearly affected by season • Net sales in par with first quarter 2024 • Lower result compared to last year’s quarte
Slide 44: Q&A
Q&A
Slide 45: Next report: Second quarter 2025 July 15, 2025
Next report: Second quarter 2025 July 15, 2025
Slide 46: Thank you!
Thank you!