Q1 2026 Per Aarsleff Holding A/S Earnings Call Transcript
Key Points
- Per Aarsleff Holding AS (FRA:PE9) reported a 12% growth in turnover, reaching almost DKK 6.2 trillion compared to the same period last year.
- The company achieved an EBITDA result of DKK 2.5 billion, corresponding to an EBITDA margin of 4.1%.
- High activity levels were noted in the construction segment, particularly in infrastructure projects driven by defense and green transition initiatives.
- The pipe technologies segment showed strong performance with a turnover growth of 17% and an EBITDA margin of approximately 10%.
- The company has a robust order backlog of almost DKK 28 billion, marking an all-time high, with significant contributions from small and medium-sized contracts.
- The rail segment reported an EBITDA margin of only 0.4%, with seasonal fluctuations affecting performance.
- Ground engineering faced challenges with low demand for precast concrete piles, leading to low-capacity utilization and price pressure in some markets.
- The construction segment's Q1 margin was impacted by conservative revenue recognition on the FMA belt project and a mix of projects.
- The recent acquisitions, while strategically beneficial, are expected to be margin dilutive in the short term due to depreciation and amortization.
- Weather conditions, particularly a colder winter, could potentially impact activity levels and financial performance, although the company does not use weather as an excuse for results.
Welcome and thank you for joining this Per Aarsleff Holding Q1 conference call. With me today, I have Group Chief Executive Officer, Jesper Kristian Jacobsen and group Chief Financial Officer, Mogens Hestbæk.
(Operator Instructions)
Over to you, Jesper.
/-
Thank you and also welcome from Mogens and my side to this Q1 presentation. The picture you saw on the first slide is from our prefab facility in Ã…winoujÃ…cie in Poland. The overall figures turn out of almost DKK 6.2 trillion a growth of roughly 12% compared to the same period last year.
Turnover over abroad, almost 40% as stated on the donuts and an EBITDA result of DKK 2.5 billion things Corresponding to an EBITDA percent of 4.1%. So, first quarter will be high activity, high turnover, and earnings as expected.
To the next slide. Construction, the biggest of the five segments, DKK 2.8 billion. High activity within construction works, civil engineering works,
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