Sveab's order intake rose 74 per cent to 302 MSEK (174) in the third quarter, while net sales fell 4 per cent to 337 MSEK (352). EBITA rose to 10.3 MSEK (9.9) and the margin to 3.0 per cent (2.8). After nine months, EBITA has more than doubled to 26.9 MSEK (11.2).
Order intake
+74% vs Q3 2025
EBITA margin
2.8% in Q3 2025
Order backlog
1,395 MSEK in Q3 2025
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Order intake | 302 | 174 | +73.7% |
| Net sales | 337 | 352 | −4.2% |
| EBITA | 10.3 | 9.9 | +3.9% |
| Earnings per share, SEK | 0.15 | 0.18 | −0.03 |
| Op. cash flow | 2.7 | −27.2 | +29.8 |
Results and business areas
The EBITA improvement came from lower selling and administrative expenses, 18.2 MSEK (23.5), while gross profit fell to 27.6 MSEK (32.8). Civil Engineering increased EBITA to 5.6 MSEK (1.5). Infrastructure fell to 4.5 MSEK (7.0) on lower net sales, 66 MSEK (108), but with a better operating margin. Industry turned to 4.1 MSEK (−1.3), mainly on higher volumes and good pricing on waste. Machinery fell to −1.4 MSEK (2.9), mainly after a write-down in an ongoing railway project.
Order position
The order backlog was 1,476 MSEK (1,395) at the end of the quarter, of which Civil Engineering 1,115 MSEK (835) and Infrastructure 229 MSEK (515). Order intake in the quarter was lower than net sales, and the comparison quarter last year was low. The largest new orders in the quarter were KÖK Syd for Roslagsvatten at 69 MSEK and an assignment for Svenska kraftnät at 47 MSEK. According to the CEO, the market is showing signs of brightening, but work remains to reach stable profitability in all business areas.
Cash flow and financing
Cash flow from operating activities was 2.7 MSEK (−27.2) in the quarter and −2.9 MSEK (−5.5) after nine months. According to the CEO, the amount of capital tied up in working capital remains high. Interest-bearing net debt, excluding lease liabilities, was 88 MSEK (167) and the equity ratio 29.3 per cent (23.6).
The disputes
In the dispute with the City of Stockholm over Årstafältet, the district court ruled in 2025 that the city must pay 249 MSEK to the project company SVEAB-Keller, of which 143 MSEK is the principal claim and the rest VAT, interest and legal costs. The city appealed. The Court of Appeal hearing is expected to conclude in November, and Sveab expects a judgment before the end of the year. The company's assessment is that the judgment will be upheld in all essentials, and its effect has been included in the accounts since the 2024 financial statements. The group's balance sheet has other receivables from the City of Stockholm of 100 MSEK. In a second dispute, against Leonhard Weiss, Sveab is claiming 18 MSEK. The year-end report will be published on 18 February 2027.
Source: Sveab Holding AB (publ), interim report January–September 2026, not reviewed by the auditors. The figures refer to the group. Comparative figures in brackets refer to the corresponding period of 2025. The changes in the table are calculated from the amounts in the report.
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