The Remuneration Report has been prepared based on the legal requirements in the Companies Act and the Swedish Corporate Governance Board’s Rules on remuneration of executive management and on incentive programs.
In accordance with Chapter 8, Section 53a of the Swedish Companies Act, the Board of Directors shall prepare, for each financial year, a report on remuneration paid and outstanding remuneration covered by Peab’s remuneration policy in force from time to time. The Remuneration Report 2025 sets out the remuneration paid to the Chief Executive Officer, describes how Peab’s remuneration policy, adopted by the 2025 Annual General Meeting, was applied during 2025, and explains how the total remuneration is consistent with the policy.
Information on the work of the Remuneration Committee during 2025 is provided on page 63 of the 2025 Annual and Sustainability Report. Information on remuneration, social security expenses, pensions and other benefits is disclosed in Note 9, “Employees, personnel costs and remuneration to senior executives”, on pages 170–173 of the 2025 Annual and Sustainability Report. Directors’ fees are not covered by this report. Such fees are resolved annually by the Annual General Meeting and are disclosed in Note 9, “Employees, personnel costs and remuneration to senior executives”, on pages 170–173 of the 2025 Annual and Sustainability Report.
Significant events in 2025
The Chief Executive Officer summarises Peab’s overall performance and significant events in the CEO statement on pages 6–7 of the 2025 Annual and Sustainability Report.
Remuneration policy and current decision-making process
The remuneration policy shall contribute to the company’s business strategy, long-term value creation and sustainability. This is ensured by offering market-based remuneration in order to attract and retain a competent Group Management team, providing long-term incentive programmes and variable remuneration focused on the company’s business strategy, long-term perspective and sustainability, and by annually assessing individual performance and target achievement against the company’s financial and non-financial results.
Under the remuneration policy, remuneration to senior executives shall consist of the following components: fixed salary, variable remuneration (STI), long-term incentive programmes (LTI), pension, company car and other non-monetary benefits.
The guidelines are set out on page 172 of the 2025 Annual and Sustainability Report. No deviations have been made from the decision-making process to be applied under the guidelines when determining remuneration. No remuneration has been reduced or reclaimed. No deviations from the remuneration policy occurred during the 2025 financial year. The auditor’s statement regarding Peab’s compliance with the guidelines is available on the company’s website, www.peab.com, under Start - Annual General Meeting 2025.
Total remuneration to the Chief Executive Officer
The total remuneration to the Chief Executive Officer consists of fixed salary, annual variable remuneration on an individual basis (STI), long-term incentive programmes (LTI), defined contribution pension in accordance with the ITP plan, as well as company car and other non-monetary benefits. The total remuneration to the Chief Executive Officer has been determined in accordance with the fundamental principles of the remuneration policy and within the stipulated limits. The proportion of variable remuneration is market-based in relation to comparable companies. The table below presents the total remuneration to the Chief Executive Officer for the period 2021–2025.
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Basic pay |
Variable remuneration |
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Chief Executive Officer (TSEK) |
Year |
Basic pay |
Other benefits/ |
STI |
LTI program |
Pension costs |
Total remun- |
Variable percent |
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Jesper Göransson |
2021 |
7,968 |
485 |
4,781 |
2,435 |
4,240 |
19,909 |
36.2% |
|
Jesper Göransson |
2022 |
8,760 |
558 |
876 |
- |
4,691 |
14,885 |
5.9% |
|
Jesper Göransson |
2023 |
9,041 |
269 |
1,808 |
- |
4,931 |
16,049 |
11.3% |
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Jesper Göransson |
2024 |
9,900 |
572 |
6,930 |
- |
5,498 |
22,900 |
30.3% |
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Jesper Göransson |
2025 |
10,200 |
717 |
5,916 |
- |
5,866 |
22,699 |
26.1% |
* The figures in the table are based on remuneration that has been resolved and will be paid. LTI programmes are included only once the performance periods have ended and the share allocation can be determined.
Variable remuneration – annual incentive programme (STI)
Members of Group Management may, from time to time, be offered variable remuneration. Such variable remuneration may amount to no more than 70 per cent of fixed salary for the CEO and 60 per cent of fixed salary for the other members of Group Management, and shall primarily be based on the profitability of the Peab Group as well as other Group targets that are material from time to time. Under the current programme, the performance measures are linked to the company’s strategy in terms of profitability, occupational health and safety, and sustainability. The financial performance measure is calculated on the basis of a target relating to Group profit after tax according to segment reporting. Within the health and safety target, a downward trend in serious workplace accidents is measured. The sustainability target is defined as a weighted outcome of the business areas’ performance in reducing carbon dioxide emissions, including promoting environmentally improved products and reuse. These targets underscore our commitment to being a leader in corporate responsibility within the industry.
Variable remuneration, including target levels, is determined for each financial year by the Remuneration Committee and is settled in the year following the year in which it is earned.
Payment is made either as salary or allocated as pension savings in a financial instrument linked to the Peab share.
The table below shows how the criteria for payment of short-term variable remuneration to the Chief Executive Officer were applied during the financial year.
| Executive’s name | Description of performance criteria |
Relative weighting of performance criteria |
a) Achieved performance b) Outcome remuneration (TSEK) |
| Jesper Göransson | Group profit after tax according to segment reporting | 46 % | a) 46 % b) 4,692 |
| ECO-products/reuse | 12 % | a) 12 % b) 1,224 |
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| Downward trend of serious workplace accidents |
12 % |
a) 0 % b) - |
Variable remuneration – long-term incentive programme (LTI)
During the year, Peab had two ongoing long-term performance-based incentive programmes for the periods 2024–2026 and 2025–2027.
The LTI for the 2024–2026 period was resolved by the 2024 Annual General Meeting and gives participants the opportunity to receive a maximum of 2,785,324 Peab shares. The Chief Executive Officer was granted 71,377 share rights, corresponding to 50 per cent of annual fixed salary. The LTI for the 2025–2027 period was resolved by the 2025 Annual General Meeting and gives participants the opportunity to receive a maximum of 2,009,058 Peab shares. The Chief Executive Officer was granted 62,309 share rights, corresponding to 50 per cent of annual fixed salary.
The long-term performance share-based incentive programmes are directed to the Chief Executive Officer, the other members of Group Management and approximately 600 additional individuals holding senior managerial or specialist positions within the Peab Group. The programmes are intended to promote the achievement of Peab’s strategic objectives and long-term value creation.
Allocation of performance shares takes place during a vesting period of three years from the date on which the participant was granted the share rights. Each participant has been granted a number of share rights corresponding to between 15 and 50 per cent of annual fixed salary, depending on participant category. Allocation of performance shares is conditional, subject to certain limited exceptions, upon the participant’s employment within the Peab Group not having been terminated and/or ended during the vesting period.
Allocation of performance shares is conditional upon achievement of the target levels determined by the Board of Directors for each programme. The performance measures for both the 2024–2026 and 2025–2027 programme periods are earnings per share according to segment reporting (EPS) and reduced carbon emissions. If the minimum threshold of the EPS performance range is not achieved, the share rights do not entitle the holder to any allocation of performance shares, whereas each share right entitles the holder to one (1) performance share if the maximum threshold is achieved. Between the minimum and maximum thresholds, allocation is made on a linear basis according to intermediate values. For the performance measure relating to reduced carbon emissions, a predetermined reduction must be achieved.
If the minimum threshold for earnings per share (EPS) is not achieved, no allocation of performance shares relating to reduced carbon emissions will be made either.
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Performance target |
Formula for calculation of outcome |
Weighting |
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Earnings per share according to segment reporting 2024-2026 |
Minimum threshold: SEK 13.50, maximum threshold SEK 20.00, with linear |
90 % |
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Carbon emissions (CO2e) |
Less than 155,000 tonnes of carbon dioxide equivalent, calculated on the basis of direct (Scope 1) and indirect (Scope 2) emissions in accordance with the calculation principles of the GHG Protocol |
10 % |
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Performance target |
Formula for calculation of outcome |
Weighting |
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Earnings per share according to segment reporting 2025-2027 |
Minimum threshold: SEK 15.00, maximum threshold SEK 22.00, with linear |
90 % |
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Carbon emissions (CO2e) |
Less than 137,000 tonnes of carbon dioxide equivalent, calculated on the basis of direct (Scope 1) and indirect (Scope 2) emissions in accordance with the calculation principles of the GHG Protocol |
10 % |
Further information on the performance share programmes is provided in Note 9 on page 172 of the 2025 Annual and Sustainability Report.
Share-based remuneration to the Chief Executive Officer
The performance criteria for the Chief Executive Officer’s variable remuneration are intended to promote the achievement of Peab’s strategic objectives and long-term value creation. For 2025, recognised remuneration expense relating to the LTI programmes for the Chief Executive Officer amounted to SEK 1,969 thousand (938).
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Principle terms |
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Information about the reported financial year |
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Opening |
Change during |
Closing balance |
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Name |
Program name |
Vesting period |
Allocation date |
Earning date |
Number of share rights |
Number of allocated share rights |
Number of earned performance shares |
Number of share rights subject to performance criteria |
Number of allocated performance shares |
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Jesper Göransson |
Performance |
2024-05-16 - 2027-05-16 |
2024-05-16 |
2027-05-16 |
71,377 |
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- |
71,377 |
- |
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Jesper Göransson |
Performance Share Program |
2025-05-15--2028-05-15 |
2025-05-15 |
2028-05-15 |
- |
62,309 |
- |
62,309 |
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Comparison of changes in remuneration and company performance
The table below presents Peab’s financial performance (SEK million), the annual total remuneration of the Chief Executive Officer (SEK thousand) and the average total remuneration of other employees.
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Outcome |
Difference between the years |
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Time period |
2025 |
2024-2025 |
2023-2024 |
2022-2023 |
2021-2022 |
2020-2021 |
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Profit for the year, segment reporting |
1,342 |
-35.5 % |
47.1 % |
-30.6 % |
-18.7 % |
-15 % |
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CEO total remuneration |
22,699 |
-0.9 % |
42.7 % |
7.8 % |
-25.2 % |
23.5 % |
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Average remuneration based on the number of fulltime equivalents employees |
750 |
2.7 % |
6.6 % |
3.0 % |
7.0 % |
4.3 % |
Comments on the Remuneration Report
No comments were received from the 2025 Annual General Meeting.