What Mt Hojgaard Holding does

MT Højgaard Holding A/S is a Danish publicly listed construction and civil engineering group headquartered in Søborg, Denmark, operating primarily through two core business units: MT Højgaard Danmark, which executes projects in new construction, renovation, civil engineering, infrastructure, and green transition, and Enemærke & Petersen, which focuses on renovation, new construction, building services, and strategic partnerships, supported by a prefabrication factory in Glostrup. The group traces its roots to Højgaard & Schultz (founded 1918 by Knud Højgaard and Sven Schultz) and Monberg & Thorsen (founded 1919 by Axel Monberg and Ejnar Thorsen); the two firms merged in 2001 and were consolidated under the current MT Højgaard Holding A/S structure on April 5, 2019. MT Højgaard manages approximately 400 construction, refurbishment, and civil engineering projects annually alongside more than 20,000 service and damage-control tasks, and maintains wholly owned subsidiaries for property development (MT Højgaard Property Development A/S), international operations (MT Højgaard International A/S, MT Højgaard Grønland ApS, Arssarnerit A/S, MT Højgaard PVT LTD in the Maldives), and acquired renovation brands Raunstrup and NemByg (added in 2020).

Revenue is generated almost entirely through project-based contracts acquired via competitive public tendering and direct negotiations with private and public clients. In 2025 the group reported revenue of DKK 10.2 billion (down from DKK 10.7 billion in 2024) and an operating profit (EBIT) of DKK 429 million, equating to a 4.2% EBIT margin; order intake for the year totaled DKK 10,327 million and the order backlog at year-end stood at DKK 11,879 million. The customer base spans Danish municipalities (Copenhagen, Bornholm, Aarhus), state-linked entities such as DSB (Danish State Railways), pension funds and financial institutions including AP Pension and Nykredit, and cultural/nonprofit institutions (FLUGT Refugee Museum). The go-to-market is enterprise field sales, increasingly delivered through long-term strategic partnership frameworks such as the TRUST unit (a consortium formed by Enemærke & Petersen with KANT arkitekter, Nøhr & Sigsgaard, Dominia, Norconsult, and GHB Landskab, acting as strategic partner to Copenhagen Municipality for institutional and school construction since 2016, renewed in 2021).

Ownership is anchored by three foundation shareholders: Knud Højgaards Fond (37.1%), EMTF Holdings P/S (10.1%), and Ejnar og Meta Thorsens Fond (9.3%), with the top 20 shareholders collectively owning approximately 89% of share capital as of December 31, 2025, when the company had 3,247 registered shareholders holding 97.8% of shares. The group is listed on Nasdaq Copenhagen and reports under Danish regulations; it has joined the UN Global Compact, holds ISO 14001 environmental management certification, and operates under GDPR-compliant data practices. Strategic activity since the 2019 consolidation has focused on portfolio refocus (divestitures of Lindpro in 2020, Ajos in 2021, and Scandi Byg in 2023) and bolt-on expansion in renovation (Raunstrup and NemByg, 2020) and residential development (Dalum Kloster land, 2022), under CEO Rasmus Untidt who was appointed in 2024.

Name

Mt Hojgaard Holding

Legal name

MT Højgaard Holding A/S

Website

https://mthh.dk

Company type

Public

Founded year

1918

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MT Højgaard Holding A/S is a Danish publicly listed construction and civil engineering group executing approximately 400 projects annually across Denmark in new construction, renovation, infrastructure, and green transition, serving public and private clients through MT Højgaard Danmark and Enemærke & Petersen.

Ownership category

akta.pro rank

Product category

Construction and Civil Engineering Services

NAICS

Construction (23), Nonresidential Building Construction (2362), Construction of Buildings (236), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), General Bldg Contractors - Nonresidential Bldgs (1540), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

akta.pro secondary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Construction services
• Civil engineering
• Infrastructure projects
• Building renovation
• Green transition

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Construction and project revenue: Revenue is generated through large-scale construction projects including new construction, renovation, civil engineering, infrastructure, and green transition projects. The group also generates revenue from building services and damage control tasks. In 2025, the group generated revenue of DKK 10.2 billion with an EBIT margin of 4.2%.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

MT Højgaard Holding is a Danish construction and civil engineering group that develops, plans, and executes projects in new construction, renovation, civil engineering, infrastructure, and green transition for private and public clients in Denmark. The group operates through two main business units — MT Højgaard Danmark (new construction, civil engineering, infrastructure, green transition) and Enemærke & Petersen (renovation, new construction, building services, strategic partnerships) — and also engages in property development. In 2025 the group delivered approximately 400 construction projects and more than 20,000 service tasks.

Product overview

MT Højgaard Holding is a Danish construction and civil engineering group operating through multiple specialized business units: MT Højgaard Danmark handles core construction and infrastructure projects, Enemærke & Petersen focuses on renovation and building services with prefabricated components, and MT Højgaard Property Development conducts residential development. The group also includes acquired companies Raunstrup and NemByg under Enemærke & Petersen, and operates the TRUST strategic partnership unit for public sector projects. The portfolio covers the full construction value chain from project development through new construction, renovation, civil engineering, infrastructure, and building services.

Differentiator

Problem solved

Functional benefit

Brands

• TRUST: Strategic partnership unit created by Enemærke & Petersen in collaboration with KANT arkitekter, Nøhr & Sigsgaard, Dominia, Norconsult and GHB Landskab for handling institutional and school construction for Copenhagen Municipality
• MTH GROUP

Products and services

• MT Højgaard Danmark

Quantifiable outcome

• Revenue of DKK 10.2 billion in 2025
• +4 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and major.

• Copenhagen Municipality (via TRUST)coreStrategic or Co-development Partner · 1 January 2016TRUST is a strategic partnership unit created by Enemærke & Petersen in collaboration with KANT arkitekter, Nøhr & Sigsgaard, Dominia, Norconsult and GHB Landskab. Appointed as strategic partner to Copenhagen Municipality in 2016 to handle the municipality's institutional and school construction. Partnership was renewed in 2021 for continued cooperation.
• Øresundsbroen ConsortiummajorStrategic or Co-development PartnerJoint venture between Højgaard & Schultz and Monberg & Thorsen (pre-merger) to construct the Øresund Bridge connecting Denmark and Sweden. The successful collaboration on this major infrastructure project catalyzed the eventual merger of the two companies in 2001.
• KANT arkitekter, Nøhr & Sigsgaard, Dominia, Norconsult, GHB LandskabcoreStrategic or Co-development PartnerArchitectural and consulting firms that formed the TRUST consortium with Enemærke & Petersen for Copenhagen Municipality's strategic partnership on institutional and school construction.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Skanska AB: Skanska is a major Nordic construction and project-development group with extensive operations in building construction and civil engineering across the Nordics, Europe and the US. Comparable in being a Nordic-rooted contractor with large infrastructure and commercial project exposure, though substantially larger than MT Højgaard.
• NCC AB: NCC is one of the leading construction companies in the Nordics, operating in building construction, infrastructure, and civil engineering across Sweden, Norway, Denmark, and Finland. Like MT Højgaard, NCC handles commercial, residential, and infrastructure projects through project-based contracting and has similar revenue scale in the SEK/DKK 10-15B band.
• Peab AB: Peab is a leading Nordic construction and civil engineering company headquartered in Sweden with operations across Sweden, Norway, Denmark, and Finland. Direct competitor in Nordic building and infrastructure construction with comparable revenue size to MT Højgaard.
• Veidekke ASA: Veidekke is one of Scandinavia's largest construction and civil engineering contractors, with operations in Norway, Sweden, and Denmark covering building construction, infrastructure, and renovation. Directly comparable as a Nordic multi-unit contractor serving both public and private clients with similar project-tendering model.
• JM AB: JM is Sweden's largest residential developer and one of the largest in the Nordics, focused primarily on housing construction. Comparable to MT Højgaard's MT Højgaard Property Development and Enemærke & Petersen residential segments (Aarhus apartments, Dalum Kloster).
• Per Aarsleff Holding A/S: Per Aarsleff Holding is a Danish-based infrastructure and civil engineering contractor, also listed on Nasdaq Copenhagen. Closest direct Danish peer to MT Højgaard Danmark's infrastructure and foundation/piling operations, including harbor and bridge work.

Emerging players

• Bonava AB: Bonava is a Nordic residential property developer, spun out of NCC in 2016 and active in Sweden, Finland, Germany, the Baltics and St. Petersburg. Comparable to MT Højgaard Property Development in residential project development, though operating in different geographies than MT Højgaard's Danish focus.

Broad incumbents

• Strabag SE: Strabag is a major European construction company headquartered in Austria, with broad building construction and civil engineering operations across Europe. Comparable in core construction contracting for transportation and building infrastructure, though much larger and more geographically diversified.
• Hochtief AG: Hochtief is a German-based global construction group with extensive building, civil, and infrastructure operations in Europe. Overlaps with MT Højgaard in commercial building and large-scale infrastructure contracting, but operates at much greater scale and across more geographies.
• Vinci Construction: Vinci Construction is the construction arm of French-based Vinci Group, one of the world's largest construction contractors, with operations across Europe including major infrastructure, building, and civil engineering projects. Indirect comparable given global scale and infrastructure focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries9 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 Mt Hojgaard Holding