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NYAB is a fast-growing Nordic contractor specialised in critical infrastructure, industrial development and large-scale energy projects. We provide engineering services, project management and consulting for complex and societally important projects.

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NYab By the numbers · rolling 12 months, Q2 2026

Financial highlights.

566.5

revenue, MEUR

33.7

operating profit (ebit), MEUR

6.0

percent, operating margin

35.6

free cash flow, MEUR

-0.3

net debt/ebitda

interim Report January-june 2026

Strong growth and improved margins.

“NYAB delivered strong revenue growth and improved profitability in the second quarter. Order intake remained robust and the order backlog in Civil Engineering reached its highest level to date. We enter the second half of the year, traditionally our strongest period for both revenue and earnings, with a solid financial position and a well-balanced project portfolio,” says Johan Larsson, CEO of NYAB.

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Investment case

NYAB as an investment.

NYAB combines exposure to attractive infrastructure, energy and industrial markets with a capital-efficient business model, experienced leadership and a strong track record of profitable growth.

1

Exposure to long-term growth markets

2

Two complementary growth segments

3

Scalable and capital-efficient model

4

Documented growth and strong financial profile

The investment case.

1. Exposure to long-term growth markets

Electrification, industrial development and long-term societal trends such as urbanisation are driving investments in critical infrastructure and energy across the Nordics. Investment needs span transmission and distribution grids, energy production and storage, as well as transport infrastructure and other essential public infrastructure. With a clear focus on these areas and a strong Nordic presence, NYAB has a project portfolio characterised by stable demand and long-term visibility.

2. Two complementary growth segments

Civil Engineering and Consulting form two complementary business segments that broaden NYAB’s offering across additional project phases and client needs. Together, the segments support scalable growth and strengthen the company’s position in complex, long-term projects in energy, infrastructure and industry.

3. Scalable and capital-efficient model

NYAB’s capital-efficient business model supports flexibility, low capital intensity and disciplined risk management, while enabling a selective project portfolio. Partnership models, framework agreements and close collaboration with customers and specialised sub-contractors support efficient delivery, stable cash generation over time and resilience across market cycles. The business model provides a foundation for growth without heavy investments in fixed assets.

4. Documented growth and strong financial profile

NYAB has a proven track record of profitable growth and a strong financial position. The order backlog remains at high levels, and Civil Engineering has consistently delivered operating margins well above the industry average. With low debt and high cash conversion, the company has a solid platform to deliver on its long-term financial targets.

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