Annual rank81
Denmark · Industrials
Per Aarsleff Holding
Infrastructure contractor combining construction, ground engineering, rail, technical contracts and trenchless pipe renewal.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Five specialist businesses, one Northern European contractor
Per Aarsleff Holding is the listed parent of a Danish construction and engineering group organised into five reporting segments: Construction, Technical Solutions, Rail, Ground Engineering and Pipe Technologies. Its One Company model combines separately accountable specialist businesses on complex contracts, backed by in-house design, factories and equipment. The examples below distinguish the holding company from operating entities such as Per Aarsleff A/S, Aarsleff Rail and Wicotec Kirkebjerg, and separate their roles from clients, partners and infrastructure operators.
Construction and technical solutions
Build the land facilities, not the energy island
A 17 July 2026 issuer announcement reported that Energinet awarded Per Aarsleff A/S the DKK 3.7 billion design-and-build contract for two future land facilities for Bornholm Energy Island, subject at announcement to a ten-day standstill. They will receive and distribute electricity from planned Baltic offshore wind farms to Danish and German grids; Aarsleff is neither the power-system owner nor the wind-farm developer. Concrete elements will be prefabricated in Poland, Wicotec Kirkebjerg will install technical systems, Artelia is consultant and C.F. Møller Architects designs the buildings and landscape. Handover is expected in 2030 and 2031.
- See the five reporting segments Construction, Technical Solutions, Rail, Ground Engineering and Pipe Technologies
- Explore the construction platform Specialist contractors combined into turnkey projects with substantial own production
- Open the technical-installation scope Power, cooling, ventilation, process piping, IT and building systems
- Map the Bornholm contract Client, partners, future facilities, project value and expected handovers
- Understand the One Company model Independent specialists collaborating without losing operating accountability
- ▶ VideoWatch: specialists assemble one building project Official Aarsleff film illustrating the One Company approach
Rail
Electrify main lines and charge battery trains
Aarsleff Rail, a group company owned by Per Aarsleff Holding, builds and maintains rail infrastructure; it does not operate trains. In Banedanmark's electrification programme, the EPAS consortium brings Aarsleff together with Siemens. Aarsleff's scope includes foundations, masts, catenary wires, transformers and grid connections. At Hårlev, Aarsleff Rail and Siemens Mobility were selected to build a 9 MW charging hub for operator Lokaltog, designed to charge four battery trains at once. Construction is expected in 2027, with completion scheduled for summer 2028.
- Meet Aarsleff Rail The controlled group company that builds and maintains railway infrastructure
- Inspect the EPAS work package Foundations, masts, catenary wires, transformers and grid connections
- Read the client's electrification programme Banedanmark's network scope, infrastructure and public purpose
- Open the Hårlev charging-hub project Lokaltog operator role, 9 MW capacity, four-train charging and planned timing
- ▶ VideoWatch: a railway bridge takes shape Aarsleff's film of the Masnedsund double-track bridge for Banedanmark
Ground engineering
Design the foundation, cast the pile and deploy the rig
Ground Engineering links geotechnical investigation, in-house design, pile factories, specialist equipment and site execution across Denmark, Sweden, Norway, Germany, Poland and the UK. The business reports about 80 piling and drilling rigs and roughly 1,500 employees. At Aarhus Ø, Per Aarsleff A/S was design-and-build contractor for the Lighthouse United consortium. Its foundation used 28 bored piles, each two metres in diameter and reaching up to 70 metres. The project shows how the group's engineering, production and construction roles meet beneath one building.
- Explore Ground Engineering Six-country footprint, design teams, factories, specialist rigs and workforce
- See how pile foundations are delivered Design, reinforced-concrete production, installation and load testing
- Read Aarsleff's Lighthouse contract Design-and-build scope, client consortium and project partners
- ▶ VideoWatch: 28 piles descend beneath Lighthouse Bilingual Aarsleff project film showing two-metre piles reaching 70 metres
Pipe Technologies
Manufacture the liner, supply the equipment and renew the pipe
Pipe Technologies works as both supplier and contractor. It develops and manufactures felt and glass CIPP liners and installation equipment; the liners can be cured with UV, LED, steam, air or water, and the range includes a drinking-water liner. The specialism began with a 90-metre sewer renewal in Holstebro in 1979. On 19 February 2026, Per Aarsleff Holding announced an agreement to acquire 49.5% of LiquiForce Services (Ontario) Inc., effective that day. Under the announced arrangement, the jointly owned Canadian company will receive a licence to BlueLight technology, while Aarsleff will build equipment and train local employees.
- Explore Pipe Technologies Turnkey renewal from method development and factory production to installation
- Open the no-dig product range Felt and glass liners, curing methods, laterals, manholes and drinking-water systems
- Return to the first CIPP project A 90-metre Holstebro sewer renewed from inside the old pipe in 1979
- Trace the Canadian partnership 49.5% LiquiForce interest, BlueLight licence, equipment and local training
- ▶ VideoWatch: renew a drinking-water pipe Official Aarsleff CIPP film from the Pipe Technologies technical archive
- ▶ VideoWatch: cure a glass liner with UV Official Aarsleff film from liner manufacture through UV installation
Official profile sources: Pipe Technologies · Steady and controlled growth since 1947 · Ground Engineering · Construction
Current 2026 update
What has changed in 2026?
Contract award announced 17 July 2026 · 17 July 2026
Contract award announced 17 July 2026latest official update
4company-specific highlights
−16%2026 stock return · context only
Contract value
Aarsleff was awarded the Bornholm Energy Island land-facilities contract with a total value of DKK 3.7 billion, subject to a standard ten-day standstill.
Revenue
Revenue increased 13.6% to DKK 12,245 million in H1 2025/26.
EBIT
H1 EBIT was DKK 500 million, corresponding to a 4.1% EBIT margin.
FY2025/26 outlook
Aarsleff raised its revenue outlook to 12–15% growth, or DKK 25.4–26.1 billion, but narrowed the EBIT-margin range to 5.0–5.3% from 5.0–5.5% as higher oil costs were expected in H2 and could only be partly passed on.
Official 2026 sources: Aarsleff awarded contract for land facilities for Bornholm Energy Island · 17 July 2026 · Interim financial report for the period 1 October 2025-31 March 2026 · 27 May 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 81 | +24% | +95% | +299% |