"Zengun posted a third quarter with higher production rates, good profitability and a stable order position." Mick Salonen, President and CEO
Third quarter
•Net turnover amounted to MSEK 564.3 (499.2)
•EBITDA totalled MSEK 39.4 (29.2), corresponding to an EBITDA margin of 7.0% (5.8)
•Operating profit (EBITA) totalled MSEK 37.9 (27.3), corresponding to an EBITA margin of 6.7% (5.5)
•Earnings for the period amounted to MSEK 19.9 (11.2)
•Operating cash flow was MSEK 39.8 (outflow: 29.5)
•Orders received totalled MSEK 481.3 (938.6)
•The order book amounted to MSEK 2,953.3 (3,468.9)
January - September
•Net turnover amounted to MSEK 1,662.7 (1,938.9)
•EBITDA totalled MSEK 109.7 (111.1), corresponding to an EBITDA margin of 6.6% (5.7)
•Operating profit (EBITA) totalled MSEK 105.0 (105.7), corresponding to an EBITA margin of 6.3% (5.5)
•Earnings for the period amounted to MSEK 54.5 (44.1)
•Operating cash flow amounted to MSEK 35.9 (outflow: 26.2)
•Orders received totalled MSEK 1,517.1 (2,616.1)
Statement by the CEO
Zengun posted a third quarter with higher production rates, good profitability and a stable order position. Turnover totalled MSEK 564 for the quarter with an operating profit (EBITA) of MSEK 38.
Zengun continues to build the city
Zengun has been entrusted with the restoration of one of Stockholm's best-known landmarks, the Riddarholmen Church's iconic spire. We are performing an extensive renovation that entails the replacement of older materials and structures with modern, environmentally friendly alternatives while maintaining respect for the church's cultural history and its ongoing activities. The technical complexity of the project includes heavy and high lifts, which require precision, careful planning and diligent work with safety. In preparation for the project, Zengun participated in the Håll Nollan Safety Push, an initiative aimed at strengthening safety culture and raising awareness of risks in the construction industry.
Zengun's subsidiary Zengun re:do has been contracted to perform light demolition and dismantling of installations as well as the refurbishing of the historic Packarhuset at Norrmalmstorg. Packarhuset, which is owned and managed by Hufvudstaden, was previously known as Citypalatset and was designed by Ivar Tengbom. The Skvalberget 16 block is also nearby. Here Zengun re:do has started project planning and preparatory demolition work for Vision. Vision intends to build offices with approximately 50 workstations per floor, which will be certified to BREEAM Excellent.
Several other ongoing projects are in intensive phases:
• Wenner-Gren Center, a classic Stockholm landmark we are developing for Fabege. The work encompasses a number of complex elements, including replacement of the facade, which attracted media attention following a pop culture discovery in the form of two well-preserved advertising paintings from the 1960s.
• RGNT, a city property with a mix of offices, retail, housing and restaurants for Pembroke. The project is currently in an intensive construction phase with, inter alia, supplements to the framework and installation work ongoing on all floors.
• Portalen, which will be the natural gateway to the new Värtahamnen for Bonnier Fastigheter. The framework has entered its final stage.
• Söderhallarna, located in the heart of Södermalm, where we are glazing the facade and working on the roof and waterproofing for Atrium Ljungberg.
We are proud of the trust vested in us by our customers and, at the end of the reporting period, our order book exceeded SEK 8 billion, of which almost SEK 3 billion in phase 2 and just over SEK 5 billion in phase 1.
Attracting more people to the construction industry
The construction sector plays a crucial role in maintaining critical infrastructure for society. Accordingly, Zengun prioritises attracting young people to our exciting and eventful industry, and we utilise several initiatives to contribute to the future skills supply.
As part of our efforts to raise interest in the building and construction programme among secondary school students, we recently participated in the Swedish Construction Federation's Career Fair, where young people get an early taste of different trades in the industry.
Exercise and community
Zengun Life is our health and well-being initiative, where the employees themselves drive the content. Running and walking sessions are held in Hagaparken during the autumn, as well as the ICA Maxi Parkenloppet run in Solna - where many of us run together. Preparations for the 2026 Stafettvasan race are now in progress. At Zengun, exercise, community and sustainability are at the heart of everything we do. A healthy organisation is key to successful projects.
Mick Salonen
President and CEO
For further information, please contact:
Mick Salonen, President & CEO, +46 (0) 70 569 66 73
Oskar Björklund, CFO, +46 (0) 79 072 84 57
This information is information that Zengun Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted through the agency of the above contacts for publication on 10 November 2025 at 8:00 a.m. (CET).
Driving projects drives Zengun. We operate in the Stockholm region, in close collaboration with customers and always with the project and people in focus. We help property owners improve their property portfolios in each project by offering know-how and skills as a collaboration and sustainability partner throughout the entire lifespan of the project. We build commercial properties, with a mix of select public-sector properties and residential projects. We take the long term into consideration for our employees, customers and surroundings, and are constantly developing to make each project a reference project. In 2024, Zengun had sales of approximately SEK 2.6 billion and approximately 150 employees. zengunbyggerstaden