NYAB received an order from the municipality of Huddinge

Translation: Original comment published in Finnish on 05/13/2024 at 7:45 am EEST

The company announced on Friday that the municipality of  Huddinge had selected NYAB as the contractor of its infrastructure expansion project. The order includes, e.g., construction of roads and pipes and is valued at 319 MSEK (some 27 MEUR). In accordance with the Swedish Public Procurement Act, the order is subject to a 10-day appeal period, after which a contract can be signed. The project will be started as soon as possible after the contract is signed, and it will be completed by the end of 2028.

Spread roughly evenly on an annual basis, the agreement is relatively small in NYAB’s size class (2024e revenue 345 MEUR). However, the order is naturally positive for the company and supports the continued strong growth we expect in the coming years. It also supports the comments given by the company in connection with the Q1 result that the market situation in Sweden is strengthening. However, the order has no direct effect on our forecasts or view of the company  Our latest company report on NYAB is available here.