Aarsleff

aarsleff.com · 12 vendors

Resilience scores

Technology vendors

Insights

Last updated 2026-05-29 · revision 2

12 direct vendors, 147 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 5/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Aarsleff's migration readiness is moderate, primarily due to significant gaps in available data. While the company utilizes modern tools like VDC, BIM, 4D/5D modelling, and laser scanning, these do not explicitly indicate whether its core IT infrastructure is cloud-native, containerized, or based on microservices, which are key indicators for seamless cloud migration. A major challenge is the complete lack of information regarding regulatory environment and data residency requirements, which are critical factors that dictate migration strategies and potential complexities. Financial stability data, essential for assessing the ability to fund a significant migration, is also missing. The 'Vendor Lock-in Risk' is explicitly unknown, posing a potential hurdle. While the geographic diversity of vendors (9 unique countries) could suggest less reliance on a single vendor, the total number of vendors is ambiguous ('Total Vendors: 0' contradicts other vendor data), making it difficult to fully assess the complexity of vendor relationships during a migration. Without clearer insights into these areas, particularly the underlying architecture and compliance landscape, a comprehensive migration strategy would be difficult to formulate.

Compliance

4 in-scope frameworks identified; showing 3.

GDPR (source) — Assessment Required

GDPR applies with HIGH confidence as Aarsleff is headquartered in Denmark (EU member state) and processes personal data of employees, customers, suppliers, and website visitors. Non-compliance could result in fines up to 4% of annual turnover (potentially over €900 million based on DKK 22.6 billion revenue). The company has a privacy policy indicating GDPR compliance efforts, but full compliance status requires detailed assessment.

Evidence: https://www.aarsleff.com/gopage.aspx?pageid=1119

ISO 27001 (source) — Assessment Required

ISO 27001 is highly relevant for a large infrastructure company handling sensitive project data, client information, and operating in critical sectors. While not legally mandatory, it's often required by clients and for competitive advantage. Risk is moderate as lack of certification could impact business opportunities and cybersecurity posture.

Evidence: https://www.aarsleff.com/about-aarsleff/quality-management

NIS2 (source) — Assessment Required

NIS2 applies with HIGH confidence as Aarsleff operates in multiple sectors covered by NIS2 in the EU: waste management (Important Entity), energy including district heating (Essential Entity), and transport/railways (Essential Entity). Company size (8,900 employees, €2+ billion revenue) exceeds thresholds. Non-compliance could result in significant fines and operational restrictions. High enforcement likelihood given critical infrastructure involvement.

Evidence: https://www.aarsleff.com/expertise/the-environment/waste-management, https://www.aarsleff.com/expertise/energy/district-heating, https://www.aarsleff.com/expertise/infrastructure/railways

Financials

Three-year financials

Financial Resilience Score: 8/10

Aarsleff exhibits above-average financial resilience for a Northern European contractor. The company maintains a solid equity ratio in the mid-30s percent range (approximately 37-39% in FY 2023/24), supported by a historically positive net cash position or only modest net debt. This conservative capital structure provides a strong buffer against the cyclical nature of the construction industry. The group's earnings quality is supported by its higher-margin niche divisions—Pipe Technologies (trenchless pipe renovation) and Ground Engineering (piling)—which generate disproportionately high EBIT contributions relative to revenue. EBIT margins have trended upward from ~4.4% to an estimated ~5.0% over the three reported years, reflecting improved project mix and disciplined execution. Notably, Aarsleff navigated the FY 2022/23 input cost inflation cycle without material project write-downs, in contrast to some Nordic peers such as NCC and Skanska. Revenue visibility is supported by a stable order backlog of DKK 11-13 billion, roughly equivalent to one year of revenue. Strategic exposure to public infrastructure (rail, water, climate adaptation, energy transmission) provides counter-cyclical ballast. The long-term family/foundation ownership anchor contributes to governance stability and a long-term strategic horizon.

Key strengths: Equity ratio consistently in the mid-30s percent, Positive or modestly net-debt position (conservative financing), Order backlog of DKK 11-13B providing ~1 year revenue visibility, Higher-margin niche divisions (Pipe Technologies, Ground Engineering), Exposure to counter-cyclical public infrastructure spending, Successful management of FY22/23 input cost inflation without write-downs, Stable family/foundation ownership anchor

Risk factors: Cyclical exposure of Construction segment (~70% of revenue), Geographic concentration in Denmark (~55-65% of revenue), Public-sector client concentration in Construction segment, Occasional one-off project losses in foundation/marine works, Working-capital intensity of large civil construction projects

Revenue by geography

Revenue by product/service

Workforce by country

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