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Per Aarsleff Holding (PAAL) investor relations material

Per Aarsleff Holding Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Aug, 2025

Executive summary

  • Revenue for the first nine months reached DKK 16,531 million, up 2% year-over-year, with satisfactory earnings and order intake of DKK 17 billion.

  • EBIT was DKK 773 million, yielding a 4.7% margin, and cash flow from operations was DKK 1,799 million, positively impacted by reduced working capital.

  • The order backlog at 30 June 2025 stood at DKK 25,092 million, including the acquisition of ArtiCon in the Faroe Islands.

Financial highlights

  • Revenue increased by 1.8% year-over-year, with 0.6% organic growth; Danish operations grew 0.6%, foreign operations 3.8%.

  • EBIT margin improved to 4.7% from 4.6% last year; net profit for nine months was DKK 593 million, up from DKK 573 million.

  • Earnings per share rose to DKK 30.54 from DKK 29.35 year-over-year.

  • Cash flow from operating activities was DKK 1,799 million, with a positive DKK 609 million effect from working capital reduction.

  • Net interest-bearing debt/EBITDA improved to 0.3, and equity ratio was 34.4%.

Outlook and guidance

  • Full-year revenue guidance narrowed to DKK 22.2–22.7 billion (2–4% growth); EBIT expected at DKK 1,125–1,175 million.

  • Investments in property, plant, and equipment (excl. leases) expected at DKK 700–750 million.

  • Approx. 96% of expected full-year revenue is covered by the current order backlog.

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Frequently asked questions

Per Aarsleff Holding A/S is a Denmark-based infrastructure contractor, offering a wide range of construction and engineering services. The company operates through key segments: Construction, Ground Engineering, and Pipe Technologies. Its Construction division handles projects such as roads, bridges, tunnels, and energy supply systems. The Ground Engineering segment provides solutions including foundation work with precast concrete piles and geotechnical services. The Pipe Technologies segment specializes in trenchless pipe renewal, serving clients with infrastructure maintenance needs. Per Aarsleff is active in Denmark, the United Kingdom, Germany, Poland, Sweden, and other markets, with operations supported by various subsidiaries. The company is headquartered in Viby J, Denmark, and its shares are listed on the Copenhagen Stock Exchange.

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