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  2. •

    Industrial services

  3. •

    Engineering & construction
Per Aarsleff Holding A/S Class B

Per Aarsleff Holding A/S Class B

680.00
DKK
-2.00
(-0.29%)
49.26EPS
15.38P/E
13.97BMarket Cap
Dec 15Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
361.92
418.4
503.01
511.14
548.85
594.15
663.53
660.44
729.38
918.16
1,056.41
1,141.24
1,197.65
1,308.42
Basic EPS, GAAP
7.32
12.47
17.98
14.82
13.16
16.68
17.76
18.79
23.53
22.65
41.02
42.35
46.38
48.21
Free Cash Flow per Basic Share
-13.43
15.2
34.66
-11.66
-3.24
14.2
22.98
52.73
-13.56
-19.26
9.39
59.64
100.07
125.89
Dividend per Share
1
1
1.5
3
4
4
5
5.51
6.48
8.01
7.93
10.04
11.01
- -
Book Value per Share
19.8
22.47
26.1
122.42
131.87
142.58
154.01
164.98
183.16
196.74
229.21
260.54
293.07
311.5
Tangible Book Value per Share
17.82
20.57
24.04
106.83
112.98
123.76
136.11
150.54
164.08
160.84
193.08
224.94
251.29
247.07
Basic Weighted Avg Shares
20
20
20
20
20
20
20
20
20
20
19
19
19
19
Sales/Revenue/Turnover
7,376
8,527
10,254
10,420
11,188
12,108
13,453
13,295
14,630
18,118
20,244
21,719
22,620
24,996
Operating Margin (%)
2.89
4.09
4.75
4.01
3.4
3.89
3.68
4.63
4.33
3.93
5.28
5.03
5.2
4.98
Depreciation Expense
274
278
298
318
350
395
437
684
583
680
783
805
913
1,024
Net Income, GAAP
149
254
367
302
268
340
360
378
472
447
786
806
876
921
Effective Tax Rate (%)
23.89
22.77
19.44
23.78
26.1
23.46
23.71
28.57
23.33
24.3
23.42
24.08
24.83
26.02
Profit Margin (%)
2.02
2.98
3.57
2.9
2.4
2.81
2.68
2.85
3.23
2.47
3.88
3.71
3.87
3.68
Working Capital
472
803
1,051
866
752
959
1,155
1,420
1,059
633
2,654
2,229
2,184
2,976
LT Debt
208
199
184
180
174
167
131
336
357
511
2,179
1,492
1,317
2,838
Total Equity
1,724
1,952
2,265
2,503
2,695
2,899
3,114
3,311
3,664
3,855
4,404
4,998
5,558
5,930
Return on Invested Capital (%)
6.57
10.68
14.76
10.7
8.57
10.52
10.75
10.1
11.67
10.78
12.93
12.01
12.3
11.05
Return on Capital (%)
6.69
10.57
14.12
10.52
8.88
10.53
10.9
10.15
11.61
9.2
13.01
12.62
12.97
11.04
Return on Common Equity (%)
9.02
13.89
17.44
12.71
10.35
12.18
12
11.8
13.56
11.95
19.18
17.3
16.76
16.6

Capital Structure

DKK

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
ST Debt
358
388
466
LT Borrowings
1,484
1,295
1,920
LT Finance Leases
572
905
918
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
19
19
19
Market Capitalization
16,265
14,102
13,971

Working Capital

DKK

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
Total Current Assets
10,929
10,675
12,486
Cash, Cash Equivalents & STI
2,233
1,998
1,903
Accounts Receivable, Net
4,707
4,019
5,151
Inventories
3,623
4,185
5,044
Total Current Liabilities
7,938
8,047
9,510
Payables & Accruals
- -
- -
- -
ST Debt
358
388
466
Deferred Revenue
- -
- -
- -

Growth Rates

DKK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.43%
10.96%
11.2%
Free Cash Flow
-19.17%
72.76%
66.52%
Net Income, GAAP
11.55%
21.3%
8.68%
Sales/Revenue/Turnover
8.42%
11.41%
4.15%
Total Cash Common Dividend
- -
13.89%
8.9%

Quarterly Revenue

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,304
5,171
5,769
5,475
21,719
2025
5,523
5,257
5,751
6,089
22,620
2026
6,180
6,065
6,662
- -
- -

Quarterly Earnings Per Share

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8.15
9.4
11.8
12.27
42.35
2025
9.33
8.84
12.37
15.06
46.38
2026
9.69
10.22
13.33
- -
- -

Quarterly Dividends Per Share

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
10.04
2025
- -
- -
- -
- -
11.01
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jesper Kristian Jacobsen
Full Time Employees
9,847
Sector
Industrial services
Industry
Engineering & construction
Address
Hasselager Allé 5 Viby CD Denmark 8260
IPO Date
Jan 1, 1984
Website
aarsleff.com
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Business
Per Aarsleff Holding A/S is a Denmark-based general infrastructure contractor specializing in construction, piling, and pipe technologies. The company operates through three main segments: Construction, which includes roads, bridges, tunnels, airports, sewerage systems with reservoirs, energy supply systems, communications networks, and total technical contracts; Piling, which involves precast concrete piles, geotechnical services, and foundation work including diaphragm walls, jet grouting, and soil stabilization; and Pipe Technologies, focused on trenchless pipe renewal for drinking water, wastewater, gas, and industrial pipelines. Per Aarsleff serves a broad range of markets including public infrastructure, industrial clients, and private developers across Denmark, the United Kingdom, Germany, Poland, Sweden, and other countries. Founded in 1947 and headquartered in Viby J, Denmark, the company wholly owns over 30 subsidiaries, including Dan Jord A/S, Petri & Haugsted A/S, Wicotec A/S, and Insituform Rohrsanierungstechniken GmbH. Recent developments include strong revenue growth with expectations raised for 2024/25 to DKK 22 to 23 billion and EBIT outlook between DKK 1,100 to 1,200 million, supported by significant projects such as the new railway across West Funen, the Fehmarn Belt tunnel, and large hospital constructions in Denmark. The company continues expanding its infrastructure activities, particularly in ground engineering linked to railway electrification, and maintains a high level of activity in district heating projects and technical solutions for the pharmaceutical industry. It emphasizes sustainable and innovative construction and trenchless pipeline rehabilitation methods that reduce environmental impact and urban disruption. The company also recently updated shareholders on share buyback programs and increased dividend payouts reflecting strong operational cash flow and solid financial performance. Per Aarsleff Holding A/S remains a key player in European infrastructure development with extensive capabilities in multidisciplinary projects, from design to execution, supporting advanced infrastructure, technical contracts, and digital building activities. Its ongoing strategic focus centers on expanding technical contract services, rail infrastructure, and sustainable construction solutions to reinforce its market position in Northern Europe.