SIBS
SIBS AB is a Swedish-headquartered, Nasdaq Stockholm-listed industrial modular construction company that designs and manufactures apartment buildings at two Penang, Malaysia factories, delivering turnkey and module-based projects to property developers, hospitality groups, and governments across Europe, the Middle East, Australia, and Southeast Asia.
- Company typePublic
- Founded2016
- HeadquartersStockholm, Sweden
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What SIBS does
SIBS AB (publ) is a Sweden-headquartered, Nasdaq Stockholm-listed industrialized construction company that designs and manufactures modular apartment buildings at two custom-built factories in Penang, Malaysia, with scalable capacity of up to 6,000 homes per year. Its core platform combines the proprietary SIBS Building System (a parametric 100mm x 100mm modular grid), the SPS Flow digital project management platform (documenting 400+ quality points per module), the SIBS Connect assembly system, and an automated design configurator that the company reports is up to 70% faster than conventional drawing processes. Approximately 90% of each building — including stairwells, elevator shafts, corridors, and MEP installations — is completed in factory, reducing on-site work and delivering 20–30% lower production cost and 30–50% shorter construction timelines versus traditional methods.
The company generates revenue through Project Sales (full turnkey delivery including assembly and commissioning) and Module Sales (modules with turnkey assistance) sold directly to enterprise customers. Its named customer base spans property developers, real estate operators, hospitality groups, and government entities across Sweden, the UK, Australia, Southeast Asia, the Middle East (notably NEOM in Saudi Arabia), and Southern Europe, with anchor relationships including Donard Living/Donard Real Estate (UK/Ireland, ~1,000 apartments/year), LINQ Modular/ALEC Holdings (Middle East, 1,500 units/year target), Baracus and an ECI partner in Australia, the Malaysian Ministry of Education (modular classrooms), and Berjaya Land (Greenland). Group subsidiaries include Sveaviken Bostad (Nordic property development and management), MOKO (design and development), MOBY, Frontlog (logistics), and The Home Factory (turnkey factory development plus licensing of the SIBS building system). The Home Factory offering and the January 2026 SIBS Modular reorganization — which centralized IP and operations under SIBS Malaysia via a SEK 1.1 billion intercompany IP licensing transaction — point to a future asset-light licensing layer alongside the manufacturing core.
FY2025 was a transition year, with reported revenue falling to SEK 948 million from SEK 5,870 million in FY2024 amid low capacity utilization and balance-sheet restructuring, including a SEK 550 million rights issue and a bondholder agreement to write down SEK 1 billion of senior secured bonds to SEK 500 million at a 7.50% fixed coupon with maturity extended to March 2028. The company also divested its property management subsidiary Sveaviken PM in December 2025 for approximately SEK 120 million of positive cash impact to refocus on industrial modular construction. Note: The same legal entity announced an acquisition of Poland-based payments processor ITCARD in March 2026, which falls outside the construction scope covered above and is not reflected in the core business description.
SIBS firmographics
Firmographics- Name
- SIBS
- Legal name
- SIBS AB (publ)
- Website
- https://sibs.se
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- SIBS AB is a Swedish-headquartered, Nasdaq Stockholm-listed industrial modular construction company that designs and manufactures apartment buildings at two Penang, Malaysia factories, delivering turnkey and module-based projects to property developers, hospitality groups, and governments across Europe, the Middle East, Australia, and Southeast Asia.
- Ownership category
- akta.pro rank
SIBS industry classification
Industry- Product category
- Industrialised Modular Construction
- NAICS
- New Multifamily Housing Construction (except For-Sale Builders) (236116)
- SIC
- Prefabricated Wood Bldgs & Components (2452)
- akta.pro primary industry
- Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)
- akta.pro secondary industry
- Residential Manufactured Housing Setup & Installation (IMAFABAG)
Keywords
Where SIBS is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices3 records
Markets served
SIBS business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Project Sales (Turnkey Houses): Design and production of modules transported to construction site where SIBS is responsible for assembly, completion, and commissioning. Represents the primary revenue stream for global markets.
- Module Sales: Design and production of modules transported to construction site where the customer is responsible for assembly, completion, and commissioning. SIBS assists until the commissioning stage.
- Property Development and Management: Through subsidiary Sveaviken Bostad, developing, building, owning, and managing properties within the Nordic market. Covers the entire value chain from acquisition to turnkey.
- The Home Factory: Develops and builds turnkey, production-ready factories. Includes a license for the SIBS building system.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Project Sales – Turnkey Houses |
| One time/ perpetual license | Multi-year contract | Module Sales – Modules with Turnkey Assistance |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
SIBS product offering
Product offeringCore offering
SIBS designs, manufactures and delivers modular apartment buildings using its proprietary SIBS Building System built on a 100mm x 100mm grid, with two semi-automated factories in Penang, Malaysia achieving up to 6,000 apartments/year capacity and ~90% factory completion including stairwells, elevator shafts and corridors. The company sells either turnkey houses (full design, production, assembly, completion and commissioning) or modules with turnkey assistance, targeting global markets in Sweden, the UK, Australia, Southeast Asia and the Middle East. The Home Factory offering packages the building system as a licensed turnkey factory-development solution.
Product overview
SIBS is a global modular building manufacturer offering a comprehensive industrial construction platform. The core offering centers on the proprietary SIBS Building System—a modular construction technology with parametric flexibility—combined with SPS Flow, a digital project management platform that orchestrates the entire construction lifecycle from design through assembly. SIBS delivers buildings via two main commercial models: Project Sales (full turnkey delivery) and Module Sales (modules with turnkey assistance). The company operates two factories in Penang, Malaysia with capacity of up to 6,000 apartments annually, achieving 90% construction completion in-factory. Key subsidiaries include Sveaviken Bostad (Nordic property development and management), The Home Factory (turnkey factory development), MOKO (design and development), MOBY, and Frontlog (logistics management). The company completed reorganization in early 2026 under the SIBS Modular subgroup structure, positioning SIBS Malaysia as the central operating entity with global IP licensing.
Differentiator
Problem solved
Functional benefit
Brands
- Industrial Sales: Business area selling and delivering modular construction projects globally through Project Sales (turnkey houses) or Module Sales (modules with turnkey assistance) concepts.
- Sveaviken Bostad
- The Home Factory
- SPS Flow
- SIBS Building System
- SIBS Connect
Products and services
- Project Sales (Turnkey Houses) Full end-to-end modular building delivery for property developers, governments and investors: SIBS designs, produces, transports, assembles, completes and commissions apartment, PBSA and hotel buildings globally.
- Module Sales (Modules with Turnkey Assistance) SIBS designs and produces factory-built modules, transports them to the construction site, and provides assistance through the commissioning stage; the customer handles on-site assembly and completion.
- The Home Factory Develops and builds turnkey, production-ready modular construction factories for industrial licensees and governments, bundling a licence for the proprietary SIBS Building System.
- Sveaviken Bostad (Nordic Property Development and Management) Wholly-owned subsidiary developing, building, owning and managing residential properties across the entire value chain from acquisition to turnkey in the Nordic market; the related property-management entity Sveaviken PM was divested in December 2025.
Quantifiable outcome
- 30–50% reduction in construction time compared to traditional methods
- +6 more outcomes
Companies that use SIBS
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
SIBS technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
SIBS partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- European Urban Regeneration DevelopercoreSIBS appointed as design and preconstruction partner for landmark student accommodation and hotel development (approximately 800 units) within one of Europe's largest urban regeneration projects. Located in one of the largest cities in Southern Europe. Development spans millions of square meters. Pre-construction phase ongoing until end of 2026; production targeted to start early 2027.
- Australian Property Developer (Perth)coreEarly Contractor Involvement (ECI) Agreement for co-living development in Western Australia. First project in a transformational residential housing portfolio across the Perth metropolitan area. Combined pipeline represents 700 residential apartments, with first project targeting approximately 6,000 m² gross floor area. ECI phase commences immediately with production expected by end of 2026.
- Southeast Asian Property Developer (Baracus Pty Ltd)coreAgreement with Southeast Asian property developer (Baracus Pty Ltd) for 302-room hotel development in Port Hedland, Australia. SIBS supplies modular units in collaboration with a local Australian principal contractor. First hotel project in Australia; design phase to be completed March 2026, production to start summer 2026, completion expected year-end 2026.
- Capsule Technology Sdn BhdcoreStrategic partnership for modular classroom projects in Malaysian public schools. SIBS delivers modular construction while Capsule Technology provides local market expertise and implementation capabilities. First pilot project at SK Tan Sri Awang Had Salleh for Ministry of Education Malaysia. Aligned with Malaysia's 2026 Federal Budget allocating over RM200 million for modular/IBS classroom construction under the 13th Malaysia Plan.
- Donard Real EstatecoreSupply agreement for purpose-built student accommodation project in Edinburgh, Scotland (134 units). Second UK order following initial Basildon project. SIBS supplies modular building components; Donard Real Estate develops the project. Targeted for delivery in 2026. Production expected to begin Q2 2026 pending UK statutory approvals.
- LINQ Modular (ALEC Holdings)coreStrategic collaboration to accelerate large-scale industrialised modular construction across the Middle East. Combines SIBS' global manufacturing capacity with LINQ's regional delivery expertise and ALEC Holdings' scale. Targets at least 1,500 modular units per year across residential, commercial, and hospitality developments. Leverages LINQ's Dubai Municipality modular license for G+6 buildings. Multiple near-term project opportunities already in progress.
- Bizum, Bancomat, Epi, Vipps MobilePayminorMOU signed with Bizum, Bancomat, Epi, and Vipps Mobilepay to accelerate deployment of sovereign, pan-European payment solutions. Note: SIBS is primarily a construction company; this partnership appears related to SIBS' payments operations (SIBS payments group in Portugal), which is a distinct business unit from the modular construction operations.
- SIBS Malaysia (SIBS SDN BHD)coreAs part of reorganization under SIBS Modular, SIBS Malaysia became the central operating entity within the modular construction platform. MOKO AB (design and development) was transferred to SIBS Malaysia. Global IP licensing agreement covers building system, digital tools, and production know-how. Transactions valued at approximately SEK 1.1 billion through set-off of intercompany balances and equity transactions.
- First Australian Customer (ADU Order)minorFirst Australian order for 50 ancillary dwelling units (ADU), marking SIBS' entry into the Australian market. Units address housing shortages with focus on sustainability and rapid deployment. Delivery scheduled for Q1 2026.
- Berjaya Land GroupminorMoU signed to develop sustainable modular homes in Greenland. Construction to begin early 2026 with SIBS expected to complete delivery by July 2026.
- Donard LivingcoreLong-term partnership with UK-based Donard Living to build approximately 1,000 apartments annually in the UK and Ireland. First projects include 495 apartments across two developments near London. First sod available from Q1 2023. Supported SIBS' expansion into UK and Irish markets.
Scale indicators11 records
Recent moves9 records
Expansion highlights8 records
SIBS competitors and assessment
Company assessmentBroad incumbents
- Bonava: Swedish residential developer active across the Nordics, Germany, and the Baltics. Comparable customer-overlap and product segment (multi-family residential), though Bonava is a traditional developer rather than an industrial modular manufacturer.
- Skanska: One of the largest Nordic/global construction and development companies, active in residential, commercial, and infrastructure with growing investment in modular and industrialized methods. Broad incumbent competitor for large Nordic and UK developers.
- Veidekke: Norwegian-headquartered construction and civil engineering group with significant Nordic residential building activity. Broad incumbent comparable on customer base and geography.
- NCC: Major Swedish construction and real estate developer with significant multifamily housing activity. Broad incumbent competitor serving similar Nordic residential developer clients as SIBS.
Direct peers
- Prescient: US-based structural steel modular construction firm specializing in multifamily apartments, student housing, and hotels. Highly comparable to SIBS in product category (mid-rise modular multifamily) and target customer segments (developers and PBSA operators).
- Boxabl: US factory-built housing manufacturer producing folded modular residential units. Comparable as a technology-led industrialized housing player, though focused on single-family rather than SIBS's multifamily core.
- Plant Prefab: US-based prefabricated home builder combining panelized and modular construction with sustainable materials. Comparable as a technology-enabled factory-built residential peer targeting developers and custom-home clients.
- Lindbäcks: Swedish volumetric modular housing manufacturer focused on multi-family residential and student housing. Closest direct peer to SIBS given overlapping Swedish/Scandinavian customer base, factory-built apartment model, and comparable technology stack.
Emerging players
- Algeco (Modulaire Group): European leader in modular space solutions, including permanent and temporary modular buildings for residential, education, and commercial uses. Comparable on modular construction technology and European/UK customer footprint, particularly relevant given SIBS's growing PBSA and classroom presence.
- Broad Group: Chinese modular steel construction firm known for rapid high-rise and hotel construction (e.g., Mini Sky City). Comparable on industrialized modular methodology and broad typology coverage, though operating primarily in China and selected international markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
SIBS social profiles
Digital presenceSIBS compliance and trust
Trust signalCompliance11 records
SIBS financial estimates
Financial estimateRevenue estimate
Valuation estimate
SIBS leadership team
Management profileNumber of profiles
Profiles8 records
SIBS subsidiaries and ownership
Company hierarchySubsidiaries8 records
SIBS funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SIBS M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SIBS
What does SIBS do?
SIBS designs, manufactures and delivers modular apartment buildings using its proprietary SIBS Building System built on a 100mm x 100mm grid, with two semi-automated factories in Penang, Malaysia achieving up to 6,000 apartments/year capacity and ~90% factory completion including stairwells, elevator shafts and corridors. The company sells either turnkey houses (full design, production, assembly, completion and commissioning) or modules with turnkey assistance, targeting global markets in Sweden, the UK, Australia, Southeast Asia and the Middle East. The Home Factory offering packages the building system as a licensed turnkey factory-development solution.
Is SIBS a public or private company?
SIBS is a public company. It is classified as public and is currently operating.
When was SIBS founded?
SIBS was founded in 2016. It employs 1,001 to 5,000 people.
Where is SIBS based?
SIBS is headquartered in Stockholm, Sweden, in the Europe region.
How does SIBS make money?
Four revenue lines are on record. Project Sales (Turnkey Houses) is the primary driver. The others are module Sales, property Development and Management and the Home Factory.
Who are SIBS's main competitors?
Broad incumbents on record are Bonava, Skanska, Veidekke and NCC. Direct peers are Prescient, Boxabl, Plant Prefab and Lindbäcks. Emerging players are Algeco (Modulaire Group) and Broad Group.
Does SIBS have an API?
No public API is recorded for SIBS.
What industry is SIBS in?
SIBS's product category is Industrialised Modular Construction. Its primary akta.pro industry code is IMAFABAB, Multi-Family Residential Construction (Apartments, Condos, Townhomes), with a secondary code of IMAFABAG, Residential Manufactured Housing Setup & Installation. Its NAICS code is 236116 and its SIC code is 2452.