Peab (PEAB) Q1 2026 earnings summary

Executive summary

• Achieved the highest order backlog in company history, supported by stable orders received and a robust market outlook in the Nordic region.

• Improved operating profit and higher operating margin year-over-year, with a strong financial position and successful refinancing of SEK 8 billion.

• Construction and Civil Engineering segments showed profitable growth, while Project Development and Industry faced seasonal and market challenges.

• The sale of K Nordang AS in Norway contributed a SEK 100 million positive effect to operating profit.

• Cash flow before financing was negative, reflecting seasonal patterns and investments, but net debt decreased.

Financial highlights

• Group net sales for Q1 2026 were SEK 10,771 million, slightly down from SEK 10,925 million in Q1 2025.

• Operating profit improved to SEK -156 million from SEK -278 million year-over-year; operating margin rose to -1.4% from -2.5%.

• Pre-tax profit was SEK -230 million (Q1 2025: SEK -384 million); earnings per share SEK -0.60 (Q1 2025: SEK -1.24).

• Net debt decreased to SEK 5,355 million, with a net debt/equity ratio of 0.5; IFRS net debt was SEK 9,218 million.

• Cash flow before financing was SEK -608 million (Q1 2025: SEK -363 million).

Outlook and guidance

• Market outlook remains stable for construction and civil engineering investments across the Nordic region, except for housing and commercial offices.

• Housing investments are increasing from a low base, while civil engineering investments continue at a high level.

• New SEK 8 billion credit facility secured, providing a stable financial base.

• Next financial report scheduled for July 14, 2026.