Peab AB (publ)

And it's no bigger secret than that we have a negative development. It's the same trend that continues as we have talked about in the previous quarter. There are no major changes in the market view either, but there are strong losses for 2023 in both Sweden, Norway and Finland. We have a certain downgrade in the per capita for 2024 for Sweden. So it is expected now that further falling investments, even for 2024, will be made in the housing construction. Even if it will be a smaller increase after the strong fall that has been in 2023. We have a more positive view and better views for the rest of the housing construction. We have had a fairly strong market when it comes to public investments through everything from criminal law to school care, with more and more. And it is so in all three countries, there is a

slight variation. In 2024, the housing construction will have a weak downgrade in Sweden. But it will have a stable market in Norway and a weak downgrade in Finland. The reason for the downgrade is that the housing market is at a higher and higher level. But the strength that if we~!!abilites probably would leverage foreign investment May we only but possibly to putょ Currently there is enoughtilling in Torse in Sweden,onia, and we are passionate about putting together your own journey and don't hesitate to become part of the VU rejection So as I said, there are quite a few restrictions, but if we look at 2024, we see that there are some restrictions on the housing industry as a whole. It is the housing industry that continues to reduce the total growth, while the rest of the housing industry is a relatively stable situation. As I mentioned earlier, the housing industry is expected to be relatively stable. So that's the market. If we take a look at the market, we can see that the market is expanding and expanding in our business, starting with construction. We have a turnover that is about to fall. This is a consequence of having had a low annual growth of about .5% since the end of the year. We had a turnover of 5.8 billion this year, which is a reduction of 8% compared to the previous average. Our result is at the level of 100 million, a margin that is at 1.7%. It is down from 2%. We are on a rolling margin of 2%.

The turnover and margin can be explained by the previous order, which is a lot of housing. It is difficult to compensate with something else, and we get some extra costs that we have to work with when we order a new production organization. But we are working with it. The turnover continues to be somewhat smaller than the previous quarter. We had a turnover of 5.6 billion this quarter. We are going to have with us that in the previous quarter, which was 8.5 billion, we had a 2 billion project in the form of the larger quarter, which the year announced. The order stock is at 25.7 billion and it is down from 31.1. Here we also see a reduction in the amount of housing projects that I will show here

shortly. Now we have a short break from the projects we have talked about in the previous quarter. We have talked about the housing situation in the previous quarter. We have a bathhouse in Häsleholm. We have a greenhouse with a strong center in Gothenburg. We have a hospital in Vasa in Finland. It is a lot of public orders that come in. We also have a shift when we look at the distribution of the products that we have had. We have a net turnover of 42% of the housing. We have a control room and then it is not going to be a shared office in the whole company. Here is a four-quarter that is mentioned in the last big project. Then we look at the supply activity. Here we have a stable activity. We have a turnover that is basically unchanged at 3.5 billion. We have a result that is also quite high. We have a margin of 3.2%. Then we look at the building margin and the supply margin. Then we look at the supply activity. Then it is .3% compared to 2.5%. The order income continues to be good. We have a net turnover of 3.5 billion. The total net turnover is 3.6%. The order stock continues to be more than 15 billion. We look at the new orders. In the third quarter we see a key and terminal area in Åfvara. We have a supply and water supply in Malmö. We have a supply and water supply in Södertjärv. Then we have a bus terminal in Frånse. Here we have a good variation of the type of orders and where they are located.

We look at the distribution per product area. We see that the street and market work is 35% of the turnover, while the share in the order stock is 30%. This is explained by the reduced building margin that affects the facility within that segment. We also have a new infrastructure that is 28% of the turnover, but in the order stock it is 31%. We also have a drift and maintenance that is 24% of the order stock, which is normal at this time of year. This is a normal distribution within the trade industry. The trade industry has no major changes. In the industry, we also see a drop in turnover. We had a turnover of 6.8 billion down from 7.1. This reduction is mainly related to the investment and concrete. We see that the result is increasing to 508 million. The margin also increased and landed at .7% in the quarter,

which is 7.3%. This is explained mainly by an increased recognition of the investment. We also had a reduction in the investment in four tough conditions, with a price increase in the energy and fuel economy, which we had difficulty getting a conversation about. This is a reduction in the investment in the energy and fuel economy, which we had difficulty getting a conversation about. This is explained mainly by an increased recognition of the investment in four tough conditions, with a price increase in the energy and fuel economy, which we had difficulty getting a conversation about. The total investment is 49% in the investment. This is basically half the turnover. The investment industry tends to be more or less against the current conditions. This is also why we have chosen to invest in the investment industry, to get better risk-stricken consumers. This is basically half the turnover. This is basically half the turnover. The margin is also stable, a little bit upward. We had a margin of 2.9 billion in the quarter, which is 2.2. We have a margin of 4.3 billion. We have invested a lot of money in the investment industry. We have invested in other parts as well. We have invested in new production facilities in the construction system, where we will get a different type of efficiency in our presentation and in the green products. This is the beginning of the growth capital. The result went down during four years. The return on investment began to deliver more money. We had a return of .8% from the previous year. Project development and innovation. Here we see the effect of the fall in the stock market. We

have a turnover that went down to

850 million compared to 2.2 billion. The result is 46

million compared to 265 million compared to the previous quarter. The margin is 5.4%. This is how it works when we do not start new projects and sell less. The fall in the stock market will have a strong impact on the results. Production started in the quarter, up to 165 units. 40 units are properties converted from previous housing projects. The remaining 125 units are housing projects that we build in our own book. We have sold 153 units compared to 257. Here is the question of our properties when we start to get close to the end of the project. It is difficult to sell properties that are far away. We have to get close to

the end of the project. We have 4200 properties in production. 2900 in housing projects and

1.300 in housing projects.

60% of this is sold, 67% is connected to the housing projects. 308 purchased properties in the balance count were sold in Finland. If we look at the housing development, we have some projects. We have three projects. One in Jönköping, one in Göteborg and a new start to Söder Tälj. We are going to build logistics. The project is the largest in Malmö. We have a lot of applications. Are you ready? We are looking for capital. We are looking for capital. We are looking for capital to invest in our housing projects. We are looking for capital in the form of We have several unsolved properties in the balance count. We are looking for capital in the production. We are looking for capital in the production. We are looking for capital in the production. We are looking for capital in the production. Thank you. We are looking at the concern as a whole. We are looking at the concern as

a whole. The total investment in the balance

count was 14.7 billion. Compared to the period, it was 16.7 billion. The growth rate was 186 million. The year before

last year, the growth margin was 5.3%. The year before last year, the growth margin was 6%. In the past 12 months, we have a turnover of 60 billion. The growth margin of Scandinavia is 3.6%. The growth margin of Scandinavia is 4.3%. The spread in the Northern part of Sweden is the same as in the previous year. The main part of our turnover in Sweden has increased by 70%. We are about the same size in Norway and Finland. A rear Flanners will robot abandoned practice G4 in Denmark. There are actual accounts of this production. As mentioned earlier, I did show you that Westгр equipments You can

hear this in the

development of the Ashorim // As for

the power supply and it has a very large number of state and community as customers. We have had a flow from 41% public to 47% of the revenue, so almost half of the revenue is to public customers and that naturally leads to stabilized and certain community awareness. For the concern as regards, we have continued to have a good distribution of orders during the first nine months of the year, as well as the number of orders reduced compared to the previous year. We had an order that rose to 34.6 billion compared to 42.8 billion in the previous year. The reduction is of course in the main thing related to both project development and housing development, and thus also certain development. We have an order that rose to 41.7 billion and a year back it rose to almost 49 billion. The proportion of the project is around 500 million, up to 40% and that is where we usually are. As we said earlier, this gives us a diverse range of books and it also contributes to a good price division. Looking at the distribution over time, 75% of the order stock

is

produced after the internal accounting,

so that is 2024 and

so on. This distribution looks like normal, but the volume is longer than the previous year. For the remaining quarter, in 2013, we have increased the number of orders by 10 billion compared to 11 billion a year.

The cash flow before the financing rose to 450 million. As we said earlier, we are now binding more capital, we have made investments in projects of extra-terrestrial properties, in the form of a rental project and also an increased capital binding of unsold properties. We have also invested in the construction of our prefab business in the business area industry. The normal season pattern is a cash flow that is weaker or even negative during the first two quarters, and then a corresponding stronger during the third quarter, when we have a higher level of activity, especially when

our The

total

amount of the net debt is 10

.2 billion compared to 5.9 billion a year.

In that net debt, our project includes financing unsold

parts of our own development housing

project, which rose to 2.9 billion. The net debt is the reason for the increased capital binding in the development of the project and industry, where we have increased investments in machines and production facilities. In the net debt, as I said, also includes the unsold part of the housing project in the ongoing production. Within this net debt, we also have a rental project related to the fall of the Scandinavian housing project, which rose to 1.1 billion. This means that our net debt is going up to 0.7 billion, which is within our financial goal of 0.3 billion to 0.7 billion. If we go over to the goal setting, we will take some of the goals that we have and follow up after the third quarter. As you can see here in

the picture, we have nine external goals, three financial goals and six non-financial goals.

In this quarter, we will prepare a follow-up of two of the financial goals and one of the non-financial goals. We have a financial goal of a growth margin of over 60%. The goal is set for the normal economy, and we have not been able to achieve this in the last year. We do consider that the goal is relevant over time, and it is possible for us to achieve this. If

we look at the total of the debt, which is estimated at 12 months, we have a growth margin of .6% excluding Scandinavian goals and .3% including the effects of Scandinavian goals. Our other financial goal is the goal of the net debt rate, where we have established an interval of 0.3 billion to 0.7 billion. We consider that to be the relevant financial position that the PIAF should have. We have a strong financial position within the interval. After the third quarter, we have a net debt rate of 0.7 billion. It is 0.8 billion within the half-year period, but that means that we are within the interval.

I

will now hand over to Jesper.

Thank you. Thank you. Yes. We have a new goal, and we have a new goal, where we have said that the serious oil companies should have a decreasing trend. We had a trend during the first quarter of the year that went in the opposite direction, with strong increases, which we had a high focus on and continue to have a high focus on. We see that this trend has been waiting for the right time during the previous year. The number of employees between the 13th and 14th year is 40,000, with 26 employees and 14 employees. We also look at other key figures that relate to different years and previous

years, for example LTIE4, we see that these key figures are decreasing over time. Our

work with our strong economy is positive and we are happy to see it. If we summarize the period in general, September 2023, as I mentioned earlier, we have a trend that continues with a weak oil market, while the oil market is still in the middle of the year. The oil market and the public building are much more positive. The same trend continues during the previous quarter. We see a slow order in progress, but the order is more influenced by the fact that the post-election project is much less. We can compensate with much of the other, but it is not entirely worth it to compensate so heavily. We have 12 employees and we have 7-8 employees in this situation. This affects the results of both the government and our salary in this phase. But we must continue to make strategic investments. We adapt to the market situation in the event that it changes. We have a very strong effect on the economy and it is our four business areas. The four business areas make it easier to have a better economy. It gives us good conditions regarding products, right product mix and right customer mix. We see that here. Long-term, we see good conditions for future growth in the cement market. That

is what Johan said.

Thank you very much Jesper and Niklas for the interview. We are ready for a question time. I think there will be instructions here first and then we will release the questions. So, here you go.

If you want to ask a question, press star, then on your phone to put yourself in the queue. If you want to return your question, please press star, then again. Next question comes from Albin Sandberg from Kepler Skevriux. Here you

go. Hi, I had two questions for you. It was clear that you have not made any changes in the attitude towards Linnibärg and Rampo. I was just wondering if you have any timeline or anything to do with

the next act? No, what has happened is that the opposition has chosen to blame the other. I want to underline that it is not a complaint. It is not a complaint, it is a mistake. They have chosen to blame the others, but they think that they have made a mistake. The decision is made by Svea Håvret. Now Svea Håvret will decide if the other will answer. There is a process for that. Unfortunately, I think this can take some time. I have told my colleagues that 2024 will be a difficult year. It is important to get things done. We won the election, that is the way it is. The other thing is that the climate change that we are now dealing with is not our judgment. It is the financial aspects and what we have communicated earlier. Thank you, Svea. I thought that when it comes to unspoken housing and so on and maybe that is what you see in the new productions Are you at a level that you still feel confident with? Or

does it

affect the future of the state? What do you do to handle this balance? I have said it before, but I will say it again. We can only note that we cannot start projects in the same way that we have done before. We have had certain levels of management when we started projects. Now we cannot sell projects that are not available. We cannot do that today. The projects that we start are in our own book. Either in the form of a housing and housing project with very low sales or more in the form of a housing and housing project. We do that based on the financial capacity that we have. We have a school setting that Niklas has made for 07.

It

is

above the interval that is our target interval. We can lie on that interval, we can go over that interval too. But of course today's money is expensive. A net is going to cost a lot of money today. It is a good point in the balance sheet. I do not want to make a big risk. It is important to balance this and sell the projects we have. We can start more projects in our own book. Until the markets turn, we can start the project on classic methods. But we are not there today. The markets are not there today.

Thank you. The last question was to Niklas. You mentioned that normally the cash flow is for the rest of the year without any guidance. Was there anything that happened before 2004 if you try to make a change in the direction of the cash flow? Is it something you should have with you in the past year?

You could say that the previous year we have this trend when the housing and own energy is decreasing quite a bit. If we look at that, we see that we have had a little over 6000 housing somewhere until now, somewhere around 4500. That makes the housing capital increase in that process. You free capital when you start with that. We have had a negative effect. We have had a flat floor now We should have that kind of effect during this year. Also, we had a pretty high investment level during the entire 2022-23 This is one of the reasons that the project is almost finished but also we have had a lot of investment and we have built up a number of these housing development projects and the housing development project in Egenbuk It affected during the fall of 2014 but not a single big investment

in the housing

development project and we have built up and we have built up a lot of investment No questions on the phone We have received a question from Kevan Kjellvan-Porr on SCB We have received three questions from him I will start by reading the first question Jesper and Niklas The capital binding in the return of the purchased housing continues to increase How do you see the decision to reduce the price of the finished housing against the risk of the continued capital binding in the returned housing?

This is a question that we are asking project by project There is no joke in having big campaigns and sell projects that are far away to the impact When the project is getting closer to completion we look project by project at the customers and how we can meet expectations and make adjustments There is no simple picture that it is done with X percent You find the customer and we will continue to work from that tactic We want to sell but for the right amount and free capital in the extent that it is given and in the extent that free capital can we start more investments

Thank you Jesper Then I continue with the next question In what

extent and in percentage terms are the price adjustments for the properties implemented? We meet customer by customer project by project so there is no general line there Then the last question about industry Does industry improve the margins? Do you think there is further potential for improvement or do you consider this as going back to normal? This is a question that we will look at from a positive perspective The investment estimate that I mentioned goes back to the previous level It is more of a return to the normal level in the previous year It was a very abnormal thing We did not get the cost-effects we had So it is more of a return Can we earn more money from the industry? We can We have an internal high target demand for those units than they have previously invested Is it reasonable to think that we can do it now with the small units? Maybe a little tougher Long-term we should be able to improve this but we should have a better risk for that unit Thank you That was all questions from Keyvan I hope you got answers to those questions I do not see any further questions from the web So we can show the last picture here and end the conference with a reminder about the next report The Public Broadcasting will be published on

February 2nd 2024

We also want to flag a capital market strike in Stockholm on February 13th after the public broadcaster So please write in your calendars We will get more information later about this day the 13th

I would like to thank you

for listening to the presentation of the day and thank you and wish you a nice weekend and all weekend have a nice weekend