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Veidekke ASA: Q4 2019 results

Veidekke generated revenues of NOK 10.8 billion in the fourth quarter. The pre-tax profit of NOK 16 million includes NOK 330 million in allocations linked to future losses and restructuring of the construction operation. The construction operation order book stood at NOK 34.3 billion at quarter-end. In 2019 as a whole, the group achieved revenues of NOK 38.8 billion and a pre-tax profit of NOK 941 million. The group’s profit per share was NOK 4.6 (IFRS), and the board has proposed a dividend of NOK 5.0 per share for the financial year 2019.

Published 11. February 2020

Restructuring costs and loss provisions affect fourth-quarter profits

Veidekke has carried out a review and evaluation of the group’s construction and industrial operations. Provisions for future losses on individual projects in the portfolio, in addition to restructuring costs in the construction business in Sweden and Norway, will be charged against the profits for the fourth quarter of 2019. Veidekke’s profit before tax in 2019 including these items is approximately NOK 940 million.

Published 28. January 2020

Veidekke ASA: To convert industrial property in Stockholm into microliving and coworking space

Veidekke’s subsidiary Arcona has been commissioned by Aberdeen Standard Investments and Ailon Group to undertake conversion of the property Påsen 15 in Hammarby sjöstad, Stockholm. Work on the SEK 200 million design and build contract is scheduled for completion in spring 2021.

Published 21. January 2020