Peab Half-year report: Finalized acquisition reinforces our Nordic position

Peab Half-year report January – June 2020

”Peab has weathered the consequences of the corona pandemic relatively well so far. Our business model with four collaborating business areas gives us stability even in uncertain times. The acquisition of paving and mineral aggregates operations reinforces our business model and Nordic position,” says Jesper Göransson, CEO and President of Peab.

Summary according to segment reporting:

April – June 2020

  • Acquisition of paving and mineral aggregates operations from YIT finalized on April 1, 2020
  • Net sales SEK 15,518 million (14,527), of which acquired operations SEK 1,741 million
  • Operating profit SEK 661 million (784), of which acquired operations net SEK 41 million. The comparable period included an income contribution of SEK 170 million from divestment of properties in the partially owned company Acturum
  • Operating margin 4.3 percent (5.4)
  • Pre-tax profit SEK 661 million (782)
  • Earnings per share SEK 1.72 (2.24)
  • Orders received SEK 13,220 million (10,817), of which acquired operations contributed by SEK 1,964 million
  • Cash flow before financing SEK -2,264 million (-987), of which paid amount for acquired operations was SEK  -3,125 million

January – June 2020

  • Net sales SEK 27,156 million (26,190)
  • Operating profit SEK 872 million (1,050)
  • Operating margin 3.2 percent (4.0)
  • Pre-tax profit SEK 802 million (1,058)
  • Earnings per share SEK 2.13 (3.01)
  • Orders received SEK 25,828 million (22,685). Order backlog SEK 46,123 million (45,873), of which acquired order backlog SEK 2,407 million
  • Cash flow before financing SEK -667 million (269)
  • Net debt SEK 6,614 million (7,893)
  • Equity/assets ratio 31.2 percent (28.1)
  • Real estate company Annehem Fastigheter founded
 

For further information, please contact:

Jesper Göransson, President and CEO of Peab, is reached through
Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45

 

This information is information that Peab AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at July 17, 2020, 8 a.m. CET.

Peab is a leading Nordic construction and civil engineering company with about 17,000 employees and about SEK 56 billion in net sales. The Group has strategically placed offices in Sweden, Norway, Finland and Denmark. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.

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Peab is a leading Nordic construction and civil engineering company with about 16,000 employees and about SEK 55 billion in net sales. The Group has strategically placed offices in Sweden, Norway, Finland and Denmark. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.

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Peab has weathered the consequences of the corona pandemic relatively well so far. Our business model with four collaborating business areas gives us stability even in uncertain times. The acquisition of paving and mineral aggregates operations reinforces our business model and Nordic position.
Jesper Göransson, CEO and President Peab