NYAB

What NYAB does

NYAB is a publicly listed Nordic construction and engineering services company headquartered in Luleå, Sweden, that delivers infrastructure, energy, and industrial projects across Sweden, Finland, and Norway. The group was formed in 2022 from the merger of Finnish Skarta Group and Swedish NYAB Group, redomiciled from Finland to Sweden in June 2024, and trades on Nasdaq First North Premier Growth Market Sweden under ticker NYAB. Its service portfolio spans seven areas: engineering and specialist services, land improvement, energy construction, infrastructure construction, industrial construction, maintenance and repair, and special projects, supplemented by the acquired Dovre Solutions business in Norway for consulting and project personnel services.

The company operates as a prime contractor on large public-sector tenders, primarily with the Swedish Transport Administration (Trafikverket), Svenska Kraftnät, Fingrid, and municipalities, while serving enterprise clients such as LKAB, Vattenfall, Aibel, and Compute Nordic Finland. Notable projects include the Aurora Line 380-kilometer 400 kV transmission line between Sweden and Finland, the Isosuo 102.5 MWp solar park in Utajärvi, the North Bothnia Line railway, and a project management contract for a Mikkeli data center with potential value of around EUR 100M. Revenue is generated through project-based, quote-driven contracts awarded via competitive tenders, framework agreements, and direct negotiations, with pricing not publicly disclosed.

Financially, NYAB reported FY2025 revenue of EUR 547M and EBIT of EUR 31M (5.6% margin) with a 68% equity ratio. The Civil Engineering order backlog stood at EUR 472.7M at Q1 2026 (up 27% YoY), Q1 2026 order intake reached EUR 183.3M (book-to-bill 1.8), and the workforce numbered approximately 993 at end of Q1 2026, following the EUR 34M acquisition of Dovre Group's businesses in January 2025.

Name

NYAB

Legal name

NYAB AB

Website

https://nyabgroup.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

NYAB is a publicly listed Nordic construction and engineering services company serving public infrastructure, energy, mining, and industrial clients in Sweden, Finland, and Norway with a EUR 547M FY2025 revenue base and EUR 472.7M Civil Engineering backlog.

Ownership category

akta.pro rank

Product category

Construction & Engineering Services

NAICS

Power and Communication Line and Related Structures Construction (237130), Utility System Construction (2371), Engineering Services (54133), Architectural, Engineering, and Related Services (5413)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Services-Engineering Services (8711)

akta.pro primary industry

Rail Maintenance-of-Way (MOW) Equipment & Services (Tamping, Grinding, Renewal) (TLAJADAH)

akta.pro secondary industry

T&D Reconductoring, Uprating & Dynamic Line Rating (DLR) Enablement (EUAEALAH)

Keywords

• Civil engineering construction
• Infrastructure construction services
• Energy construction services
• Railway and bridge construction
• Industrial construction services

Headquarters

HQ city

Utajärvi

HQ country

Finland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Civil Engineering: Core revenue stream from infrastructure construction projects including railway, road, bridge, earthworks, and civil engineering contracts. Revenue generated through project-based contracts with public agencies and private clients, both through direct awards and framework agreements. Q1 2026 revenues of 100.1 million EUR.
2. Consulting / Project Personnel Services: Through subsidiary Dovre Solutions, NYAB provides engineering and project personnel services as a Level 1 supplier, supporting Aibel's offshore and land-based projects in Norway under framework agreements.
3. Project Management Contracts: NYAB signs project management contracts for complex projects such as the data center in Mikkeli, Finland, where potential total construction value could reach approximately EUR 100 million.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

NYAB is a Nordic construction and engineering services company that delivers engineering, construction, and maintenance services for public and private sector clients in energy and infrastructure. The company organizes its offering around seven core service areas: Engineering and Specialist Services, Land Improvement, Energy Construction, Infrastructure Construction, Industrial Construction, Maintenance and Repair Construction, and Special Projects. Through subsidiary Dovre Solutions, NYAB additionally provides project management, strategic advisory and engineering personnel services across the Nordic region.

Product overview

NYAB is a Nordic construction and engineering services company offering a comprehensive portfolio of infrastructure, energy, and industrial construction services. The company's service offering is organized around seven core service areas: Engineering and Specialist Services, Land Improvement, Energy Construction, Infrastructure Construction, Industrial Construction, Maintenance and Repair Construction, and Special Projects. NYAB operates as a unified group incorporating several acquired brands including Skarta Energy (renewable energy), Sitema (electrical networks), Niskasen Maansiirto (earthworks), and Dovre Solutions (project management and consulting services across Nordic region). The company serves both public and private sector clients across Sweden, Finland, Norway, and other regions globally.

Differentiator

Problem solved

Functional benefit

Brands

• Skarta Energy: Energy construction and renewable energy solutions subsidiary
• Sitema
• Dovre Solutions

Products and services

• Engineering and Specialist Services Expert engineering services and specialized technical consulting for complex infrastructure, energy, and industrial projects across the Nordic region. Sold to public and private sector clients undertaking capital projects.
• Land Improvement Ground preparation and land development services including earthworks, foundation work, and site preparation for infrastructure and construction projects. Sold to public agencies, energy companies and industrial clients.
• Energy Construction Construction services for energy infrastructure including power lines, substations, solar parks, and wind farms. Sold to transmission system operators (e.g., Svenska Kraftnät, Fingrid), utilities and renewable energy developers.
• Infrastructure Construction Construction of roads, railways, bridges, and other civil engineering infrastructure. Sold primarily to public sector transportation authorities such as Trafikverket and to municipalities under framework agreements and project tenders.
• Industrial Construction Construction services for industrial facilities including factories, processing plants, data centers and manufacturing facilities. Sold to private sector industrial and data center developers.
• Maintenance and Repair Construction Ongoing maintenance and repair services for existing infrastructure including roads, bridges, and public utilities, delivered under multi-year framework agreements with public sector clients.
• Special Projects Complex specialized construction projects including large-scale town and building relocations, demolition, fiber optic installation, and cultural heritage projects. Sold to mining companies (e.g., LKAB), municipalities and utilities.
• Dovre Solutions Project Management and Personnel Services Project management, strategic advisory and engineering/personnel services for complex projects across energy, infrastructure, buildings, digitalization and defence in the Nordic region. Sold to enterprise clients such as Aibel under framework agreements through 2028.

Quantifiable outcome

• 60% revenue increase in Q3 2025 driven by Civil Engineering growth in Sweden and Dovre acquisition
• +5 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• Compute Nordic Finland OycoreStrategic or Co-development Partner · 18 February 2026NYAB Finland Oy signed a project management contract with Compute Nordic Finland Oy to develop a large-scale data center in Mikkeli, Finland. The planning and design phase commenced immediately, with earthworks potentially beginning March 2026. Potential total construction value could reach approximately EUR 100 million depending on commissioned work scope.
• Dovre Group PlccoreStrategic or Co-development Partner · 20 November 2024NYAB acquired Dovre Group Plc's businesses in Norway as well as project management operations in Asia-Pacific, North America, and the Middle East, with closing expected around January 2025. The total estimated deal value was EUR 34 million. The acquisition expanded NYAB's service offerings and geographic footprint, adding client contracts and personnel.
• AibelcoreStrategic or Co-development Partner · 1 January 2023Dovre Solutions, a NYAB Group subsidiary, has a framework agreement with Aibel (Norwegian engineering and industrial company) for the supply of engineering and project personnel. The agreement was originally signed in 2023 and extended in 2026 until 2028. Dovre Solutions serves as a Level 1 supplier supporting Aibel's projects on the Norwegian Continental Shelf as well as land-based and renewable projects.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• AFRY: Sweden-based engineering, design, and advisory firm serving infrastructure, energy, and industrial clients globally (formed from ÅF and Pöyry merger). Comparable to NYAB's engineering services and competes for similar planning-phase infrastructure assignments in the Nordics.
• Sweco: Sweden-headquartered engineering, design, and project management consultancy serving infrastructure, water, energy, and industrial clients across Europe. Comparable to NYAB's engineering and specialist services arm and overlapping in design-phase assignments.

Direct peers

• Skanska: Global construction and infrastructure company headquartered in Sweden with major Nordic civil engineering operations including rail, road, bridges, and energy. Largest Nordic-listed construction peer with overlapping customer base and project types.
• AF Gruppen: Norwegian construction and civil engineering group with operations in building, infrastructure, and energy. Comparable to NYAB's Norwegian footprint via Dovre Solutions; competes for similar public infrastructure contracts.
• NCC: Swedish construction group with overlapping infrastructure, building, and civil engineering operations across the Nordics. Comparable business mix including rail, road, and energy-related construction, and competing in the same Trafikverket tenders as NYAB.
• Veidekke: Major Scandinavian construction and infrastructure contractor with civil engineering operations in Norway, Sweden, and Denmark. Comparable scale and service mix to NYAB, particularly in transport infrastructure.
• YIT: Finnish-headquartered construction group active in infrastructure, housing, and business premises across the Nordics, Baltics, and Central Europe. Overlaps with NYAB Finland Oy on civil engineering and infrastructure projects in Finland.
• Peab: One of Sweden's largest construction and civil engineering groups with strong presence in Nordic infrastructure, transportation, and energy projects. Direct competitor for Trafikverket and municipality contracts; Andreas Öhgren (NYAB's new Country Manager Sweden) joined from Peab's senior ranks.

Emerging players

• Consti: Finnish building renovation and technical services contractor with overlapping building maintenance, renovation, and repair construction activities. Comparable to NYAB's maintenance and repair construction service line in Finland.

Regional players

• Multiconsult: Norwegian engineering and consultancy firm offering project design and advisory for infrastructure, energy, and industrial clients. Comparable to Dovre Solutions' Norwegian engineering and project personnel services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@nyabgroup
• LinkedInlinkedin.com/company/nyabgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about NYAB