Peab AB (publ)

And once again, welcome to today's presentation of the first nine months of PEA 2024. We will start by looking at the market sector before we go into the business. We start with housing investments, and they have been at a still low level throughout 2024. If we look forward to 2025, development is expected to turn upwards in all three Nordic countries that we work in. It is falling interest rates that are expected to contribute to the increased demand for both housing rights as well as rental rights projects. We should note that the arrows point upwards, but it is a turn from low levels. And we continue to follow the development very carefully on the markets where we exist. But it feels like the housing market has changed. If we... Looking at the overall housing market, it has been a strong market during the year, and the expectations for 2025 are that it will continue to be a side-by-side development at a high level. It is the public sector, above all, that continues to keep up the investment levels in all of the three countries. And if we look at the layout, the market prognoses are stable. The investments are at a high level even for 2025. And as you know, our government in Sweden has gone out and wants to invest more money in infrastructure. This applies to both the operation and maintenance of roads and railways, i.e. in the existing infrastructure, but it also applies to investments in new infrastructure. Of course, this gives a long-term sustainability for the construction market in Sweden. If we bring it together to the total market, i.e. total housing and construction investments, both new and rebuilt, then it is expected Förbättringar i Sverige för 2025, medans investeringsnivåerna i Norge och Finland förväntas utvecklas passivt ledes.

Det är alltså, som vi säger, stabila investeringsnivåer på våra marknader för 2025. If we then go into business as we do now, and we start with the construction business here, then we have a quarter where the turnover of the building is 5.1 billion. Thank you. ... ... ... ... ... ... ... ... ... We will see if my white picture is standing. And here we see some examples of objects that we have got from the third quarter.

Stationshus i Göteborg, en skola i Jönköping, ett nytt mobilitetshus i Sundsvall och så ska vi renovera bostäder i Tromsö. Tittar vi på fördelning per produktområde inom bygg så står andelen bostäder på 29% i omsättningen och tittar vi in i orderstocken så är bostäderna nere på 27%. Det här är från toppnivå där vi låg över 50% för några år sedan. Samtidigt så ser vi då att orderingången från offentliga beställare, som jag nämnde innan, på andra typer av byprojekt fortsätter att vara god, och det är till exempel skolor, det kan vara vård, badhus, idrottsanläggningar med mera. Kontor, som växer omsättningen, där räknar vi in projekt som om- och tillbyggnad av styrkvarteret i Stockholm, polishus och riksarkivet.

Thank you. Thank you. Thank you. And here we see an increase of 9%. And then to 3.8 billion, up from 3.5. Here we see these five investments in the form of investment. ... ... ... ... ... ... ... . . . Here we see a normal... ... ... ... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... mellan Norrland och vi ska bygga vatten- och avloppsprojekt i Norge. Tittar vi på fördelningarna här så har vi en bra spridning mellan de olika produktområdena. Gator- och markarbeten, 36 % av omsättningen, faller till 18 % i orderboken, förklaras av minskat bostadsbyggande, som vi har pratat om innan, det är en trend som vi har sett. Vägar och infrastruktur, 26 % i omsättningen, i orderstoken, hela 45 %. There are big projects that we have taken in over the year. Bode, a airport, E20, out of Mariestad. There goes the ironworks project up in Bode.

It's a project that has been going on for several years. We will see that it will be produced over the next year. Thank you very much. There we see a... Here we have... We have... A business that is quite limited in the first two quarters. Then we have... . . . . . . . ... ... ... ... ... ... ... ... ... ... ... ... ... Well, there we go.

... ... ... ... ... ... ... Fördelningen av verksamheten här, beläggning sticker ut verkligen. Hela 53 procent av industris nettoomsättning på rullande tolv är beläggningsverksamhet. Det är en väsentlig del för PEAB. Det är en verksamhet som omsätter överkant 10-11 miljarder. Så det är en väsentlig del av den totala verksamheten i PEAB. Den är en konjunkturoberoende verksamhet och vi är en ledande aktör i Norden på den sidan. Det känns stabilt och bra. Här ser vi avkastningen på sysslat kapital. Sysslat kapitalet går ner och uppgick till 10,7 miljarder.

Mänskligheten förklarar oss av att vi har haft lägre investeringar senare. Thank you very much. project here ... ... ... ... ... ... ... ... ... ... Thank you. ... ... ... ... ... ... ... ... Thank you. We started two projects during the quarter, one in Finland and one in Norway.

It was 108 households. The sale of self-developed housing is still at a low level, but we are selling at a steady pace, and we continue to notice an increased interest among our buyers, especially in the large-scale regions of Sweden. We sold 300 homes in the quarter, out of 141 for housing rights and rental properties, and 159 for rental rights, by canceling two rental rights projects. We are constantly seeing small improvements in the housing market, as the interest rates are rising. Men det som kommer att krävas för att vi ska se en varaktig uppgång är ytterligare fallande räntor. Jag tror själv att en foränta på runt 3% skulle nu vara bra.

Det kräver också att vi ser att andrahandspriserna har förstört. ... ... ... ... ... ... ... ... ... ... ... We have 1,754 bus production, about 1,000 bus rights 703 have we in the housing rights project. We have 300 units that have been transferred to the administration. 55% of the housing rights are sold. That's not a lot we have in the project. ... ... ... ... ... project. Here we see a capital structure.

som är på en hög nivå, men den har planat ur, ligger på 18,2 miljarder. Och här har vi bundit väldigt mycket kapital i takt med att bostadsmarknaden har gått ner, men vi känner att den har stabiliserat sig. Men det är klart att avkastningen, den blir vad den blir med tanke på att vi har en så låg verksamhetsvolym, så resultaten är för låga och avkastningen är därav också låg. Det var affärsområdena, Niklas. Thank you very much, Jesper.

As I said, we will now turn to the company as a whole. We increased by 5% in revenue compared to the previous year to 15.5 billion kvartals.

. . . It is especially exciting that we have a result with us. We have a growth in the static quarter of 995 million. It is a growth margin of 6.4%. If we look at rolling, we have a turnover of 57.5 billion, with a turnover margin of 2.9%. Thank you very much. Thank you. . . . . . . . . . . ... ... ... When it comes to the proportion or distribution of public customers to private customers, the trend is that we get an increased proportion of public customers.

They now account for 54% of the turnover in the company against 46% of the private turnover. If we look back one year, these relations were largely reversed. Of course, a large part of the facility and industry, especially in the construction sector, that drives this trend, but also, as we heard before, the housing industry within the construction sector, with large public investments. This distribution means that we increase stability and also reduce consumption. the sensitivity in the concern.

As I said, we have a high order stock with continued high risk spread. We had ... ... ... ... ... ... ... ... ... Which is about... ... ... ... ... ... ... ... ... ... up from 31.71 years ago. And if we look at that year, 68% of ... ... ... ... ... ... ... ... ... ... that we have been working on for a long time. And you can see in this picture

... ... ... ... ... ... The year beyond that, we see that there has been an increase. We are now at 13.3 billion. 77% of our order volume will be executed the year after the current fiscal year. The cash flow pre-financing improved to 1.195 billion in the quarter. Och att jämföra med 450 miljoner förgående år.

Så vi har ett starkt kassaflöde i kvartalet. Men det som är viktigt är att titta på hela perioden. Vi har haft en vad gäller kassaflödet, en väldigt bra inledning på året. Säsongsmässigt så hade vi starka kassaflödeskvartal i Q1 och Q2. And now we have a little more... Normally, we should have a strong cash flow in Q3 and Q4 groups. And now we see... We also see that we are losing in Q3. So we have... positive. The expansion in the cash flow leads to a lower capital and also a reduced net income. The net debt has gone down to 8.4 billion. After that, it went back to 10.2 billion. In this segment, ... ... ... ... ... Thank you.

Tittar vi på målen så kommer vi att göra avstämning på två av våra finansiella mål och ett av de icke-finansiella som Jesper will come back to during this quarter. We have the moving margin goal. As you know, we have a moving margin goal that we will have a margin of over 6%. We are currently at 2.9%. As I said, you should keep in mind that it is loaded with the measures we ordered during the previous year. If we were to clean them, we would be rolling at 3.8% of our margin.

The second financial goal that we set off in this talk is We have a goal interval between 0.3 and 0.7. We mean that there we have a relevant and strong financial position for PM. When we now close the third quarter, we are in the middle of this intervall with the next fiscal year on 0.5. I'll leave it at that. Thank you very much. . . . . ... ... ... ... ... Thank you. ... ... ... ... ...

We have increased revenue, we are strengthening our results and we have, as Niklas also said, a significantly improved cash flow. The markets for installation and relocation show a good demand, but then we have the housing and office markets that are still weak. A stable order once after two record quarters. We have a high order volume and it is extended in time. We have a strong quarter. Men ökad omsättning och förbättrat resultat som jag nämnde. Anläggning och beläggning växer med lösamhet. Vi har ett förbättrat kassaflöde som gör att nätets skulden faller.

Och sist men absolutt inte minst åter. Vi är glada för den affärsområden som vi har. Vi har fyra affärsområden. And we have a local change. And we know that it delivers during several weeks. So it's the last picture, Johan. Thank you very much. If you want to ask a question, please press the button. ... ... ... ...