Interim report January-June 2021

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April-June 2021

  • Order bookings amounted to SEK 2,221 million (1,851)
  • Income amounted to SEK 2,274 million (1,393)
  • Operating profit amounted to SEK 108 million (139)
  • Cash flow from operating activities amounted to SEK 50 million (156)
  • Cash flow for the period amounted to SEK 47 million (outflow 38)
  • Profit for the period amounted to SEK 178 million (negative 114)
  • The equity/assets ratio was 37.2 percent (34.7)
  • Serneke and Fastighets AB Balder have agreed to form a joint development company in which Fastighets AB Balder will acquire 50 percent to continue the Karlastaden collaboration in a shared format. The joint venture company will develop three buildings in the district, comprising a total 45,000 square meters GFA and approximately 450 apartments.
  • On May 24, Michael Berglin took over as President and CEO of Serneke Group. Michael has held the role of acting CEO since February this year and, before that, also held the role of Deputy CEO.
  • On June 1, Serneke Group AB repaid SEK 200 million of its bond loan ISIN SE0011256338. The amortization was conducted in accordance with the applicable terms of the bond.

January-June 2021

  • Order bookings amounted to SEK 3,400 million (4,826) and the order backlog was SEK 13,372 million (11,072)
  • Income amounted to SEK 4,224 million (3,207)
  • Operating profit amounted to SEK 139 million (negative 288)
  • Cash flow from operating activities amounted to SEK 48 million (outflow 389)
  • At the end of the period, available cash and cash equivalents totaled SEK 535 million (450)
  • Profit for the period amounted to SEK 224 million (negative 220)

Michael Berglin, CEO Serneke Group, comments:

“The continued stabilization of our contracting operations and additional ongoing transactions are the two factors primarily contributing to the Group's positive operating profit of SEK 108 million (loss 139) for the period. We are moving in the right direction and are seeing the effects of our ongoing development efforts. However, increased competition and price pressure demand that we continue to develop our customer offering and our deliveries.”

“During the quarter, we took another historic step in one of Sweden's largest and most exciting urban development projects, Karlastaden. Our collaboration with Balder is continuing and we have now agreed to jointly develop another three urban blocks in the district. Of course, I find it extremely gratifying that we are continuing to make further structural transactions among our major investments and that, in addition to the immediate positive impact on our profit, this also provides continued good income in the form of new contracting agreements and possible profits from our joint project company.”


Presentation of the Interim Report for January-June 2021

On July 15, 2021 at 9:00 a.m. (CET), Serneke Group will comment on this Interim Report in a conference call with an online presentation for investors, analysts and the media. The presentation will be in Swedish and can be followed live via webcast at Presentation materials for the presentation will be available on the website one hour before the webcast begins.

To participate, please dial: +46 8 505 58 356


For more information, please contact:

Anders Düring, CFO
Tel: +46 70 888 7733

This information is such that Serneke is required to disclose the EU Market Abuse Regulation and the Securities Market Act.. The information was submitted under the auspices of the contact person stated above, for publication on 15 July 2021 at 08.00 a.m. CET.

Serneke is a rapidly growing corporate group active in contracting and project development. The Group was founded in 2002 and today has income of nearly SEK 6.9 billion and approximately 1,100 employees, organized into three business areas: Serneke Sweden, Serneke Invest and Serneke International. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industri al facilities, public buildings, roads and civil engineering projects, and other infrastructure. The company’s customers consist of both public and commercial clients. The Company’s Swedish units operate nationwide and are organized into five regions: Sout h, West, East, Central and North, and are headquartered in Gothenburg. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.

More information about Serneke Group AB can be found at