What Sentia does

Sentia ASA is a Nordic construction group that delivers complex, large-scale building and infrastructure projects for public and commercial clients in Norway and Sweden. The company operates through two reportable business segments: HENT in Norway (founded 1980, ~1,272 employees, nine regional offices, headquartered in Heimdal/Trondheim) and Sentia Sweden (SSEA, Vestia, and Kiruna Målbygg, ~152 employees, five offices including Kista/Stockholm, Mölndal/Gothenburg and Kiruna). Group headquarters is in Oslo, and Sentia ASA has been listed on Euronext Oslo Børs under ticker SNTIA since 13 June 2025. The Group employs over 1,400 people in total and is ranked the 6th largest construction company in Norway and Sweden by revenue.

The core service offering is turnkey, design-and-build, partnering, cost-plus, and joint-venture construction delivery, with a deliberate preference for collaborative contract models over lowest-price tendering. Notable proprietary capabilities include cross-laminated timber (CLT) construction expertise (showcased in Mjøsa Tower), circular-economy material reuse (up to 70% on individual projects such as Läppstiftet), ISO 14001-certified environmental management, and a structured partnering/collaborative methodology with a high historical conversion rate from development to construction phase. Project execution is supported by an extensive subcontractor and supplier partner network, and Sentia's delivery is also differentiated by a cross-border commuter workforce and ESG alignment (net-zero by 2045, 50% emissions reduction by 2030).

The business model is project-based and quote-based, with revenue recognised as construction contracts progress. The 2025 full-year revenue was NOK 11,772 million (+11.8% YoY), with profit before tax of NOK 731 million (EBT margin 6.2%) and a record NOK 21.3 billion order backlog at end-Q2 2025. Customers span Norwegian and Swedish public-sector clients (Statsbygg, Avinor, municipalities of Bergen, Asker, Drammen, Narvik, Lerum), listed property firms (Atrium Ljungberg, Hemsö, Base Property/Equinor, Kalk Eiendom, Camar Eiendom/K2 Stavanger), industrial/data-centre clients (Nscale), and nonprofit organisations (BHK, Fagforbundet, The Salvation Army). The customer mix is anchored by recurring multi-project relationships, and the Group's go-to-market combines direct enterprise sales (tenders, collaborative development, direct awards) with joint-venture/consortium structures for the largest projects.

Name

Sentia

Legal name

Sentia ASA

Website

https://sentiagruppen.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sentia ASA is a Nordic construction group (over 1,400 employees) listed on Euronext Oslo Børs, delivering complex, large-scale building and infrastructure projects for public-sector and commercial clients across Norway and Sweden via subsidiaries HENT and Sentia Sweden, with a record NOK 21.3bn backlog.

Ownership category

akta.pro rank

Product category

Construction Services

NAICS

Support Activities for Crop Production (11511), Landscape Architectural Services (54132), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Equipment Rental & Leasing, Nec (7359), Construction Machinery & Equip (3531), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Infrastructure Planning, Capital Programs & Project Delivery Offices (PMOs) (BPAIALAJ)

Keywords

• Commercial construction services
• Public infrastructure construction
• Building construction
• General contracting services
• Sustainable building projects

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Construction contract revenue: Primary revenue stream derived from large, complex construction contracts delivered for public and private clients in Norway and Sweden. Delivered through turnkey, design-and-build, partnering/collaborative, cost-plus, and joint-venture contract models. 2025 full-year revenue NOK 11,772 million (Q4 NOK 3,158 million), up 11.8% YoY. Backlog is multi-year and currently at record levels (NOK 21.3bn at end-Q2 2025).
2. Pre-construction / collaborative development fees: Revenue recognized during collaborative development phases (Phase 1) prior to entering into turnkey construction contracts, particularly for public sector and large private tenders. Converts into main construction contract award with high historical conversion rate.
3. Capital recycling / treasury management income: Net financial position of NOK 4,135 million at year-end 2025 (up from NOK 3,765 million) generates financial income that contributes to profit before tax of NOK 731 million in 2025. Sentia has a stated dividend payout policy of >70% of net profit, with proposed 2025 dividend of NOK 5.50 per share.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Sentia ASA is a Nordic construction group that delivers large, complex building and infrastructure projects for public and private clients in Norway and Sweden. It operates two business segments — HENT (Norway) and Sentia Sweden (consolidating SSEA, Vestia and Kiruna Målbygg) — executing construction contracts via turnkey, design-and-build, partnering/collaborative, cost-plus and joint-venture delivery models. Specialist capabilities include cross-laminated timber (CLT) construction, circular material reuse, and ISO 14001-certified environmental management aligned with a net-zero by 2045 target.

Product overview

Sentia ASA is a single Nordic construction group (no software platform) rather than a product-plus-modules architecture. Its portfolio consists of one parent brand and two operating clusters: HENT, the Norwegian construction subsidiary executing large and complex building and infrastructure projects (including the new Bodø Airport terminal and the Nscale/Aker data center build-outs), and Sentia Sweden, a Swedish construction cluster that aggregates three sub-brands — SSEA, Vestia, and Kiruna Målbygg/Målbygg — covering Stockholm-area projects such as the Sätra Ice Arena and the Stockholm University of the Arts, plus northern-Sweden building work. The HENT and Sentia Sweden clusters together constitute Sentia's named service offering.

Differentiator

Problem solved

Functional benefit

Brands

• HENT: Norwegian construction brand — Sentia's Norwegian operating subsidiary specialising in large and complex projects including hospitals, schools and commercial buildings.
• SSEA
• Vestia
• Kiruna Målbygg (Målbygg)

Products and services

• HENT — Norwegian construction services Norwegian construction services covering large, complex building and infrastructure projects (hospitals, schools, airports, data centres, commercial buildings, cultural venues) for public and private clients. Includes cross-laminated timber expertise and is the entry point for data centre projects such as the Nscale partnership. Operates through nine regional offices across Norway.
• Sentia Sweden — Swedish construction services Swedish construction services delivered through the SSEA, Vestia and Kiruna Målbygg subsidiaries, covering public buildings, residential developments, offices and commercial properties. Focused on early client involvement, partnering delivery and sustainable construction for Swedish municipalities and listed/private property firms.

Quantifiable outcome

• +11.8% YoY revenue growth (2025 vs 2024) to NOK 11,772 million
• +6 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship, minor and core.

• Aker Nscale (now Nscale)flagshipStrategic or Co-development Partner · 23 December 2025Multi-phase strategic partnership for construction of data centre facilities at the Kvandal Nord cluster outside Narvik, Norway. Initial 25 MW LNTP (Nov 2025) converted into a full EPC contract (Dec 2025); a further LNTP for two additional 75 MW data centres was signed in June 2026, with parties aiming to enter a full EPC contract by June 2026. HENT delivers Civil/Structural/Architectural (CSA) scope.
• Advokatfirmaet SchjødtminorImplementation/ SI/ Consulting Partner · 2 June 2025Legal advisor to Sentia ASA and Ratos on Norwegian and Swedish law for the IPO.
• Advokatfirmaet ThommessenminorImplementation/ SI/ Consulting Partner · 2 June 2025Legal advisor to the Managers (ABG Sundal Collier, DNB Carnegie, SEB) on the Sentia ASA IPO.
• WhistleB (external whistleblower service)coreTechnology or Integration · 15 May 2025Independent, external whistleblower channel used across the Sentia Group for reporting misconduct; supports compliance with the Norwegian Transparency Act and internal Business Code. Accessible via report.whistleb.com/en/sentia.
• Atrium LjungbergcoreStrategic or Co-development Partner · 23 March 2025Long-term partnering relationship for Stockholm University of the Arts (MSEK 1,370) executed as a collaborative delivery contract; SSEA has worked with Atrium Ljungberg since 2025 in planning/design phase before main-contractor selection.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• NCC AB: Leading Swedish construction and property development company with significant Nordic building operations. Comparable to Sentia Sweden and HENT in non-residential construction, particularly in public sector and commercial real estate.
• Peab AB: One of the largest Nordic construction and civil engineering groups, listed in Stockholm. Comparable to Sentia across Swedish and Norwegian building construction, including public infrastructure and commercial real estate.
• Veidekke ASA: Major Norwegian construction and civil engineering contractor listed on Oslo Børs with strong public-sector and infrastructure exposure. Most directly comparable to HENT in scale, contracting model and customer base within the Norwegian market.
• AF Gruppen ASA: Oslo-listed Norwegian contractor with building, civil and environmental business areas serving public and private clients. Closely comparable to Sentia in size, Nordic footprint and mix of partnering/turnkey contracts.

Others

• JM AB: Swedish residential developer and contractor. Less directly comparable as it focuses on housing rather than the non-residential/public mix that defines Sentia, but included as a Nordic listed construction peer for benchmarking.

Emerging players

• Serneke Group AB: Swedish construction and development group executing commercial, residential and public projects, including in Greater Stockholm/Gothenburg. Comparable to Sentia Sweden's regional building-construction focus, though smaller and privately held.
• Consto AS: Privately held Norwegian general contractor executing commercial buildings, housing and public projects across Norway and northern Sweden. Comparable to Sentia in scale and customer mix but operates as a private challenger rather than listed peer.

Regional players

• NRC Group ASA: Oslo-listed Nordic contractor focused on infrastructure, rail and civil engineering in Norway, Sweden and Finland. Comparable as a Nordic peer with cross-border execution capability, though more weighted to civil/rail than non-residential building like Sentia.
• Hæhre Entreprenør AS: Norwegian infrastructure and building contractor with strong presence in the Oslo region and northern Norway. Comparable to HENT in large public-project execution and Norway-centric geographic mix.

Broad incumbents

• Skanska AB: Swedish-headquartered global construction and project development group with significant Nordic non-residential and civil operations. Comparable to Sentia as a listed Nordic contractor pursuing complex public and commercial projects, but much larger and more diversified geographically.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sentia