16.12.2025 08:37:06 CET | Per Aarsleff Holding A/S | Annual Financial Report

Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the company’s audited annual report for 2024/25.  

The annual report in brief  

• A very satisfactory year with revenue increase and high earnings.
• Revenue increased by 4.1% to DKK 22,620 million.
• EBIT amounted to DKK 1,177 million, corresponding to an EBIT margin of 5.2%.
• Order intake amounted to DKK 24.6 billion, and the order backlog remained high at DKK 26.4 billion.
• A very satisfactory cash flow from operating activities of DKK 2,788 million.
• The proposed dividend for the financial year 2024/25 is DKK 12 per share of a nominal value of DKK 2. 

Aarsleff’s expectations for 2025/26  

• Revenue growth of 6 to 11%, corresponding to revenue between DKK 24.0 and 25.1 billion.
• EBIT margin of 5.0 to 5.5%.
• Investments in property, plant and equipment exclusive of leased assets are expected to amount to approx. DKK 750 to 850 million.  

The segments’ expectations for 2025/26

Construction
High level of activity in the construction market, and at the same time, the increased focus on defence and critical infrastructure offers many opportunities. Strong activity within renovation of residential buildings as well as continued good opportunities in the North Atlantic within building activities and infrastructure. 

Technical Solutions
High level of activity with district heating projects and hospital construction as well as good opportunities within projects related to energy, defence and the pharmaceutical industry. 

Rail
Strong activity in Denmark with focus on selective order acquisition. Focus on increasing earnings in Norway and Sweden by selecting the right projects. 

Ground Engineering
Expecting an improvement in the market driven primarily by infrastructure projects and, to a lesser extent, residential construction. Decreasing price pressure and better capacity utilisation. Uncertainty remains high, but market opportunities are satisfactory. 

Pipe Technologies
Strong activity in all significant markets with a stable inflow of funds for the utility segment in the Nordic region and Western Europe. 

Aarsleff’s Group CEO Jesper Kristian Jacobsen says:  

“In the Aarsleff Group, we can once again look back on a very satisfactory financial year. Not only because of the financial figures with record-high operating profit and revenue, but also very much because we see a decline in our accident frequency rate – a truly important parameter for the overall picture of our successful joint development. Order intake is high and consists of many small and medium-sized projects. At the same time, we see good opportunities in the near future, not least as a result of the increased focus on defense and critical infrastructure. Aarsleff stands strong with promising outlooks, solid finances and dedicated employees, who have stayed adaptable, looked after each other and maintained a high level of well-being.”  

Conference call in English regarding the annual report
Tuesday 16 December at 11:00

Participants must use this link: Aarsleff Annual Report 2024/25

Contacts

• Jesper Kristian Jacobsen, Administrerende koncerndirektør / Group CEO, +45 8744 2222

About Per Aarsleff Holding A/S

The Aarsleff Group is a building construction and civil engineering group with an international scope and a market leading position in Denmark. The Group comprises a portfolio of independent, competitive companies each with their own specialist expertise. 

Attachments

• Aarsleff_annual report-2024-25_UK.pdf

Original release

• Annual report for 2024/25