Peab AB (publ) (PEAB_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

My name is Johan Hartoma and I am the CEO of PAAB. With me are Jesper Göransson, PIAB's CEO and CEO, and Niklas Winqvist, PIAB's CFO. We will let Jesper start by presenting today's report, and then we will let Niklas finish. No, Jesper will finish. If you want to ask questions after the session, you can either do it manually, and then you press square five on your mobile devices, and then we'll let you know. Alternatively, if you want to write in a question, you can do it via the web form, and then I'll read up the question later. So, with those words, we'll hand it over to Jesper. Welcome. Thank you very much, and once again welcome to the first quarter of 2025. The first quarter is always a relatively small business quarter, as we know, with a low season for many businesses. But before we get into that, let's look at the market outlook. We start with housing investments. And just like before, we believe in a continued recovery of the housing markets in all of our three countries by 2025. But that's from low levels. We'll get back to that a little bit soon. We may also see that the recovery is taking place in a somewhat slower pace than we previously thought due to the insecurity that now exists in the environment. On the other hand, falling market rates may help us in the other direction. So we'll have to wait and see. But we believe in upgrades, at least for 2025. This picture also talks about the previous quarter, and we see this dramatic fall as it was since the top year 2021, where we were up to almost 70,000 starters per year in Sweden, and we have dropped to a bit under 30,000 now, 2023 and 2024, on the rise since 2025 points to something over 30,000. So it's basically halved levels from the tops then. We think we see a stabilization. These lower interest rat...