Year-end Report January-December 2020



October-December 2020

  • Order bookings amounted to SEK 4,852 million (2,969).
  • Income amounted to SEK 2,166 million (2,253).
  • Operating loss amounted to SEK 47 million (97).
  • Cash flow from operating activities amounted to SEK 204 million (83).
  • Loss for the period amounted to SEK 72 million (63).
  • On December 17, 2020, Serneke and Balder entered a share transfer agreement meaning that Balder acquires 50 percent of the shares of Karlatornet AB ("the Joint Venture"). The Joint Venture is a newly established company that has acquired all of the Karlatornet assets from Serneke at their book value of SEK 1.6 billion against a promissory note in the form of an interest-bearing shareholder loan of SEK 1.4 billion, which generated an operating profit of SEK 2 million, which was recognized net on the line "earnings effect of establishment of joint ventures" in the income statement.
  • Sale of development rights in Karlastaden to Tosito generated an operating profit of SEK 45 million.   

January-December 2020

  • Order bookings amounted to SEK 10,639 million (8,601) and the order backlog was SEK 13,619 million (8,943).
  • Income amounted to SEK 6,871 million (6,725).
  • The operating loss was SEK 414 million (84), of which non-recurring items amounted to a loss of SEK 365 million.
  • Cash flow from operating activities amounted to an outflow of SEK 352 million (645),
  • At the end of the period, available cash and cash equivalents amounted to SEK 646 million (692).
  • Loss for the period amounted to SEK 358 million (82).
  • The equity/assets ratio was 32.5 percent (38.0); including the rights issue that was recognized in 2021, the equity/assets ratio amounts to 34.3 percent.
  • The Board of Directors proposes that no dividend be paid for 2020.

Michael Berglin, Acting CEO Serneke Group, comments:

- Based on the business plan we presented in September 2020, we are now prepared to take the Company into the next phase where the change of the Company's top management also needs to be seen as a natural part of the Company's development.

- Our restructuring of the Company, cost-efficiency improvements and an involuntarily production decline in our largest project Karlatornet have contributed to an operating loss of SEK 414 million for 2020. However, increased income during the year and a record-breaking order book of SEK 13.6 billion provide us security for the future.

- The Company's full focus is now on creating a continuously stable and profitable business through a combination of contracts and projects developed in-house, the core of our business model. I am confident that the Company as a whole is on the right path.


Presentation of the Interim Report for January-December 2020

On February 26, 2021 at 9:00 a.m. (CET), Serneke Group will comment on this Year-End Report in a conference call with an online presentation for investors, analysts and the media. The presentation will be in Swedish and can be followed live via webcast at Presentation materials for the presentation will be available on the website one hour before the webcast begins.

To participate, please dial: + 46 8 566 42 705


For more information, please contact:

Anders Düring, CFO
Tel: +46 70 888 7733


This information is information that Serneke is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was released for public disclosure, through the agency of the contact person above, on 26 February 2021 at 08.00 a.m. CET.

Serneke is a rapidly growing corporate group active in contracting and project development. The Group was founded in 2002 and today has income of nearly SEK 6.7 billion and approximately 1,200 employees, organized into three business areas: Serneke Sweden, Serneke Invest and Serneke International. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industri al facilities, public buildings, roads and civil engineering projects, and other infrastructure. The company's customers consist of both public and commercial clients. The Company's Swedish units operate nationwide and are organized into five regions: Sout h, West, East, Central and North, and are headquartered in Gothenburg. The Company's Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.

More information about Serneke Group AB can be found at

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