Aarsleff eyes defence as Nordic infrastructure demand shifts

Aarsleff, one of the largest construction companies in the Nordics, sees growing potential in the defence sector.

The company has released its half-year report, showing substantial growth in net sales to DKK 12.2 billion.

More tender opportunities are emerging in major infrastructure projects, Aarsleff said.

Public authorities are showing growing interest in securing critical infrastructure, and we are also seeing increased focus on investment in defence, the company said in the report.

- We delivered a satisfactory result supported by a strong order intake. Opportunities within infrastructure remain attractive, and we see potential in the region’s increased investment in defence, said CEO Jesper Kristian Jacobsen in a prepared statement.

Aarsleff declined to comment further.

Headquartered in Aarhus, Aarsleff is by far the largest construction company in Denmark, although it remains smaller than NCC and Skanska.

The company reported turnover of DKK 22.6 billion. Aarsleff has grown sharply over more than a decade, supported by a sustained focus on infrastructure works such as the Fehmarn Belt link.

As previously reported, the four Nordic countries are increasing spending not only on equipment and personnel, but also on infrastructure, including barracks, according to a Defence Nordic survey. However, the maturity of these programmes varies significantly.

In Denmark, the Danish Defence has estimated a requirement of DKK 15 billion, or around two billion euro, in 2025, excluding new construction.

Sweden, Finland and Norway are also investing billions in construction.