Reported Earnings • Jul 15
Second quarter 2026 earnings: Revenues exceed analyst expectations Second quarter 2026 results: Revenue: kr16.6b (up 9.9% from 2Q 2025). Net income: kr588.0m (up kr516.0m from 2Q 2025). Profit margin: 3.6% (up from 0.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.6%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Construction industry in Sweden. Actualités en direct • Jul 15
Peab Reports Record Orders and Higher Profit Boosted by Public and Industrial Demand Peab reported a record order intake and higher operating profit for the first half of the year, supported by significant sales growth across all business segments and a larger backlog driven by public sector and industrial projects.
Management flagged weaker returns in the Project Development segment, highlighting a contrast with the rest of the business where performance was stronger and supported by new financing arrangements and lower net debt.
Peab’s share price is SEK90.90, with the stock up 5.3% year to date, framing the results against a modestly positive share price trend in 2026.
The key takeaway is that Peab’s core construction and industrial activities appear to be carrying the group, while Project Development remains a pressure point. The balance between these segments and the sustainability of the order backlog are central risks to watch. Buy Or Sell Opportunity • May 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to kr88.90. The fair value is estimated to be kr112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. New Risk • May 02
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 60% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (60% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • May 02
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: kr0.61 loss per share (improved from kr1.30 loss in 1Q 2025). Revenue: kr10.8b (flat on 1Q 2025). Net loss: kr172.0m (loss narrowed 54% from 1Q 2025). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 23
Upcoming dividend of kr1.80 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 07 May 2026. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Swedish dividend payers (4.0%). In line with average of industry peers (3.1%). New Risk • Apr 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Annonce • Mar 27
Peab AB (Publ) Proposes Dividend, Payable on 7 May 2026 and 4 November 2026, Respectively Peab AB (publ) at Annual General Meeting to be held on 29 April 2026 proposed a dividend to the shareholders of SEK 3.30 per share, to be paid on two occasions. At the first payment occasion, SEK 1.80 per share shall be paid, with the record date being 4 May 2026. At the second payment occasion, SEK 1.50 per share shall be paid, with the record date being 30 October 2026. If the AGM resolves in accordance with the proposal, the dividend is expected to be distributed by Euroclear Sweden on 7 May 2026 and 4 November 2026, respectively. Buy Or Sell Opportunity • Mar 20
Now 20% undervalued Over the last 90 days, the stock has risen 14% to kr94.65. The fair value is estimated to be kr118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.6%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Declared Dividend • Feb 06
Final dividend of kr1.80 announced Shareholders will receive a dividend of kr1.80. Ex-date: 30th April 2026 Payment date: 7th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.3% Last year net profit margin: 3.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.3% net profit margin). Annonce • Feb 05
Peab AB (publ), Annual General Meeting, Apr 29, 2026 Peab AB (publ), Annual General Meeting, Apr 29, 2026. Price Target Changed • Feb 04
Price target increased by 16% to kr102 Up from kr87.50, the current price target is an average from 3 analysts. New target price is 9.6% above last closing price of kr92.75. Stock is up 16% over the past year. The company is forecast to post earnings per share of kr4.46 for next year compared to kr8.32 last year. Annonce • Jan 24
Peab AB (publ) to Report Fiscal Year 2025 Results on Feb 04, 2026 Peab AB (publ) announced that they will report fiscal year 2025 results on Feb 04, 2026 Reported Earnings • Oct 26
Third quarter 2025 earnings: EPS in line with expectations, revenues disappoint Third quarter 2025 results: EPS: kr2.89 (up from kr2.55 in 3Q 2024). Revenue: kr15.4b (down 2.3% from 3Q 2024). Net income: kr829.0m (up 13% from 3Q 2024). Profit margin: 5.4% (up from 4.7% in 3Q 2024). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 20
Upcoming dividend of kr1.25 per share Eligible shareholders must have bought the stock before 27 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Swedish dividend payers (3.9%). Higher than average of industry peers (3.0%). New Risk • Aug 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Recent Insider Transactions • Jul 17
Chief Financial Officer recently bought kr737k worth of stock On the 15th of July, Niclas Winkvist bought around 10k shares on-market at roughly kr73.68 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Niclas' only on-market trade for the last 12 months. Reported Earnings • Jul 16
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: kr0.25 (down from kr2.07 in 2Q 2024). Revenue: kr15.1b (down 11% from 2Q 2024). Net income: kr72.0m (down 88% from 2Q 2024). Profit margin: 0.5% (down from 3.5% in 2Q 2024). Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Major Estimate Revision • Jul 01
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from kr5.90 to kr5.08 per share. Revenue forecast steady at kr60.0b. Net income forecast to shrink 23% next year vs 30% growth forecast for Construction industry in Sweden . Consensus price target broadly unchanged at kr85.00. Share price fell 2.2% to kr77.35 over the past week. Annonce • Jun 24
Peab and URW Have Reached A Settlement Agreement Regarding Mall of Scandinavia Through a settlement agreement Peab and Unibail-Rodamco-Westfield (URW) have agreed on a final resolution of all transactions regarding the contract for Mall of Scandinavia. The agreement entails that Peab's liquidity will increase by one billion Swedish kronor in the third quarter 2025, that net financial items in the second quarter 2025 will be charged with around SEK 600 million and that net debt will remain unchanged. On June 30, 2023 an arbitral award in the case regarding the contract for Mall of Scandinavia was rendered. The arbitral tribunal concurred with Peab's claims for compensation for added expenses generated by extensive changes in the project made during the production phase and ruled that Peab was entitled to compensation of approximately one billion Swedish kronor for construction costs as well as SEK 390 billion, in default interest. URW then challenged the award to Svea Court of Appeal which on May 28, 2025 rendered a judgment entitling Peab to compensation for the work incurred by changes and additions along with compensation for disorder and disruption. The arbitral award was set aside concerning URW's claim for liquidated damages for certain delays and Peab's claims for the costs of the arbitration procedures. Since no payment was made as required by the judgment Peab initiated bankruptcy proceedings against the project company Rodamco Projekt AB in order to demand payment. URW announced on June 3, 2025 that it intended to initiate a new arbitration procedure regarding its claim for liquidated damages for certain delays and Peab intended to initiate a new arbitration procedure regarding its claim for the costs of the arbitration procedures. On June 22, 2025 the parties agreed to settlement entailing a payment of one billion Swedish kronor from URW to Peab on July 2, 2025. The settlement agreement further entails that each party retract all processes, that the contract is considered finally settled and that the parties have no claims against each other, including warranty obligations. The settlement agreement thereby entails that there are no remaining risks for Peab regarding the contract for Mall of Scandinavia.Through the settlement agreement Peab will be compensated with an amount equivalent to the amount determined for costs for completing the contract in the arbitral award on June 30, 2023. The agreement entails that Peab waives an amount equivalent to accrued default interest. New Risk • May 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (76% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Annonce • May 06
Peab AB (publ) Approves Dividend for the Financial Year 2024 Peab AB (publ) at its Annual General Meeting held on May 6, 2025, approved dividend of SEK 2.75 per share for the financial year 2024, to be distributed in two instalments. The first instalment, of SEK 1. 50 per share shall be paid with a record date of 8 May 2025. The second instalment of SEK 1.25 per share shall be paid with a record date set for 28 October 2025. Upcoming Dividend • Apr 30
Upcoming dividend of kr1.50 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 13 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Swedish dividend payers (4.0%). In line with average of industry peers (3.2%). New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks High level of debt (65% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 04
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: kr8.32 (up from kr6.92 in FY 2023). Revenue: kr61.3b (flat on FY 2023). Net income: kr2.39b (up 20% from FY 2023). Profit margin: 3.9% (up from 3.2% in FY 2023). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Annonce • Apr 04
Peab AB (Publ) Proposes Dividend, Payable on May 13, 2025 and October 31, 2025 Respectively Peab AB (publ) proposed dividend to shareholders of SEK 2.75 per share to be distributed in two payments. The first payment would be SEK 1.50 on the record date May 8, 2025. The second payment would be SEK 1.25 on the record date October 28, 2025. If the AGM decides according to the proposal, the dividend is expected to be distributed from Euroclear Sweden AB on Tuesday May 13, 2025 respectively October 31, 2025. Recent Insider Transactions • Mar 31
Insider recently bought kr249k worth of stock On the 24th of March, Charlotta Brandstrom bought around 3k shares on-market at roughly kr79.00 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr383k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 27
Insider recently bought kr249k worth of stock On the 24th of March, Charlotta Brandstrom bought around 3k shares on-market at roughly kr79.00 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr383k more in shares than they have sold in the last 12 months. Declared Dividend • Feb 12
Dividend of kr1.50 announced Shareholders will receive a dividend of kr1.50. Ex-date: 7th May 2025 Payment date: 13th May 2025 Dividend yield will be 1.8%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.8% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.9% per year for the foreseeable future. Minor Risks High level of debt (78% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 07
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: kr8.32 (up from kr6.92 in FY 2023). Revenue: kr61.3b (flat on FY 2023). Net income: kr2.39b (up 20% from FY 2023). Profit margin: 3.9% (up from 3.2% in FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Annonce • Feb 07
Peab AB (publ), Annual General Meeting, May 06, 2025 Peab AB (publ), Annual General Meeting, May 06, 2025. Major Estimate Revision • Jan 31
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from kr5.87 to kr6.46. Revenue forecast steady at kr58.0b. Net income forecast to grow 21% next year vs 58% growth forecast for Construction industry in Sweden. Consensus price target of kr82.50 unchanged from last update. Share price was steady at kr79.75 over the past week. Major Estimate Revision • Jan 13
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from kr5.67 to kr6.32. Revenue forecast steady at kr58.1b. Net income forecast to grow 18% next year vs 58% growth forecast for Construction industry in Sweden. Consensus price target broadly unchanged at kr81.67. Share price fell 5.1% to kr74.25 over the past week. Buy Or Sell Opportunity • Nov 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.3% to kr81.90. The fair value is estimated to be kr67.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 3.2% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. Employee Representative Director Maria Doberck was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buy Or Sell Opportunity • Oct 28
Now 22% overvalued Over the last 90 days, the stock has fallen 2.7% to kr77.85. The fair value is estimated to be kr63.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 4.4% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: kr2.55 (up from kr2.17 in 3Q 2023). Revenue: kr15.7b (up 3.7% from 3Q 2023). Net income: kr732.0m (up 18% from 3Q 2023). Profit margin: 4.7% (up from 4.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 21
Price target increased by 11% to kr75.67 Up from kr68.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of kr77.65. Stock is up 71% over the past year. The company is forecast to post earnings per share of kr5.29 for next year compared to kr6.92 last year. Reported Earnings • Jul 17
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: kr2.07 (down from kr4.14 in 2Q 2023). Revenue: kr16.9b (up 5.2% from 2Q 2023). Net income: kr596.0m (down 50% from 2Q 2023). Profit margin: 3.5% (down from 7.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Price Target Changed • Jun 13
Price target increased by 14% to kr62.50 Up from kr55.00, the current price target is an average from 2 analysts. New target price is 12% below last closing price of kr70.70. Stock is up 57% over the past year. The company is forecast to post earnings per share of kr4.85 for next year compared to kr6.92 last year. Annonce • May 08
Peab AB (Publ) Approves Dividend, Payable on May 14, 2024 Peab AB (publ) held its Annual General Meeting on May 6, 2024, Annual General Meeting decided according to the Board of Directors' proposal on a dividend of SEK 1.50 per share for the financial year. May 8, 2024 was adopted as the record date for dividend distribution. The dividend will be distributed from Euroclear Sweden AB on May 14, 2024. Reported Earnings • May 07
First quarter 2024 earnings: Revenues in line with analyst expectations First quarter 2024 results: Revenue: kr11.5b (down 12% from 1Q 2023). Net loss: kr57.0m (loss widened 63% from 1Q 2023). Revenue was in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Construction industry in Sweden. Price Target Changed • May 02
Price target increased by 13% to kr62.67 Up from kr55.67, the current price target is an average from 3 analysts. New target price is 7.4% below last closing price of kr67.70. Stock is up 28% over the past year. The company is forecast to post earnings per share of kr4.77 for next year compared to kr6.92 last year. Reported Earnings • Apr 07
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: kr6.92 (up from kr6.27 in FY 2022). Revenue: kr61.6b (flat on FY 2022). Net income: kr1.99b (up 8.5% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is forecast to stay flat during the next 3 years compared to a 4.6% growth forecast for the Construction industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year. Buy Or Sell Opportunity • Mar 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.5% to kr59.75. The fair value is estimated to be kr49.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are also forecast to decline by 4.0% per annum over the same time period. Recent Insider Transactions • Feb 16
CEO & President recently bought kr2.0m worth of stock On the 14th of February, Jesper Göransson bought around 35k shares on-market at roughly kr56.10 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jesper's only on-market trade for the last 12 months. Declared Dividend • Feb 07
Dividend reduced to kr1.50 Dividend of kr1.50 is 63% lower than last year. Ex-date: 7th May 2024 Payment date: 14th May 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 11% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Recent Insider Transactions • Feb 05
Insider recently bought kr837k worth of stock On the 2nd of February, Stefan Danielsson bought around 16k shares on-market at roughly kr52.99 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr3.0m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 02
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: kr6.92 (up from kr6.27 in FY 2022). Revenue: kr61.6b (flat on FY 2022). Net income: kr1.99b (up 8.5% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Sweden are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 19% per year. Major Estimate Revision • Jan 22
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from kr7.20 to kr5.93 per share. Revenue forecast steady at kr59.6b. Net income forecast to shrink 40% next year vs 11% decline forecast for Construction industry in Sweden. Consensus price target up from kr50.67 to kr52.67. Share price fell 11% to kr46.60 over the past week.