Serneke Group

Serneke is a contracting and project development group with comprehensive solutions within buildings, civil engineering and project development. Since the company was founded in 2002 it has developed from being a local contracting company into a nation-wide contracting group with a strong portfolio within project development. Historically, Serneke has prioritized growth over profitability, which has resulted in the company's current strong market position in Sweden with the opportunity to win procurements for desirable projects and in the long run also impact the development of the society. Serneke is a well-positioned company today and has therefore during the last year changed the focus to make the business more effective. A re-organisation was performed in the beginning of 2020 and during the year Serneke has also adopted a new business plan with focus on profitability and stability. The market is still attractive for the company and at the end of the third quarter 2020 Serneke had an order book of approximately SEK 10.6 billion and an extensive development portfolio. Serneke receives more flexibility to operate the business through the Rights Issue with conditions for long-term development with profitable growth and stability. The company intends to use the net issue proceed to finance the current operation and to take advantage of investment opportunities within the project development operation.