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    PEAB B   SE0000106205

PEAB AB (PUBL)

(PEAB B)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 12/08 05:15:30 am
110.2 SEK   -0.45%
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Peab : completely renovates Tingstad Tunnel in Gothenburg

10/11/2021 | 02:01am EST

Peab has been commissioned to renovate Tingstad Tunnel that connects Hisingen to the Gothenburg mainland. The customer is the Swedish Transport Administration and the contract is worth SEK 365 million.

Tingstad Tunnel is one of the most important road connections in Western Sweden. Around 125,000 vehicles pass through the tunnel, which was built in 1968, every day. Starting in the spring of 2022 the 455 meter long tunnel will undergo a complete renovation and one tunnel section at a time will be closed off for the work. Peab's commission includes renovating the entire construction of the tunnel, replacing the surface of the walls and roof as well as repaving the road through it, all with the intention of extending the life of Tingstad Tunnel by 30-50 years.

"Peab has long and broad expertise in building and renovating heavily trafficked environments such as in the recently completed project of lowering E45 and building the new Gullberg Tunnel in central Gothenburg. Naturally we'll bring all that experience into play when we renovate Tingstad Tunnel. We look forward to continuing our good working relationship with the Swedish Transport Administration and our other partners," says Berth Larsson, Region Manager Peab.

During the renovation one tunnel section at a time will be closed off in order to be able to work there. In addition to the renovation, most of the technical installations, such as lighting and fans, will be replaced and a new fire alarm system will be installed along with a new system to handle the rainwater that gathers in the tunnel.

The project is a traditional contract. Construction will begin in the spring of 2022 and is expected to be completed by year-end 2023/2024.

The project will be order registered in the fourth quarter 2021.

Illustration: KGZ Fougstedt

For further information, please contact:

Berth Larsson, Region Manager Peab Civil Engineering, +46 733 37 48 94

Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45

Peab is the Nordic Community Builder with 16,000 employees and net sales of SEK 57 billion. With a local presence and focus on our own resources we develop, do the groundwork and build everyday life where it's lived. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on Nasdaq Stockholm.

https://news.cision.com/peab/r/peab-completely-renovates-tingstad-tunnel-in-gothenburg,c3428972

https://mb.cision.com/Main/424/3428972/1478237.pdf

https://news.cision.com/peab/i/tingstadstunneln-2,c2965109

https://news.cision.com/peab/i/tingstadstunneln-1,c2965110

https://news.cision.com/peab/i/berth-larsson,c2965113

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 57 838 M 6 371 M 6 371 M
Net income 2021 2 072 M 228 M 228 M
Net Debt 2021 8 708 M 959 M 959 M
P/E ratio 2021 15,8x
Yield 2021 4,16%
Capitalization 32 657 M 3 579 M 3 597 M
EV / Sales 2021 0,72x
EV / Sales 2022 0,68x
Nbr of Employees 15 648
Free-Float 59,3%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 110,70 SEK
Average target price 112,50 SEK
Spread / Average Target 1,63%
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Managers and Directors
Jesper G÷ransson President & Chief Executive Officer
Niklas Tom Winkvist Chief Financial Officer
Anders Erik Runevad Chairman
Roger Linner Chief Operating Officer
Henrik Viberg J÷nsson Head-Finance & Investments
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