In 2021, Veidekke increased its profit to almost the same level as before the property development operation was divested. Veidekke is now a streamlined contractor, with operational focus and a shorter path between management and projects. The reorganisation into construction and infrastructure operational units in Norway and Sweden emphasizes this focus.
The group entered 2022 with an order book that provides a solid basis for keeping up activity levels in the year ahead. With a strong balance sheet, Veidekke is well-positioned for further profitable growth, although more uncertainty is attached to future market developments following the invasion of Ukraine.
“After two years of pandemic, came the cruel attack on Ukraine, leading to great suffering for those affected and new uncertainty about the future. In addition to the enormous humanitarian consequences, lasting impact of the war on the world economy and the global risk situation appears inevitable, and we are, as a matter of course, closely monitoring developments, says Jimmy Bengtsson, Group CEO in Veidekke.
Construction and civil engineering are human resource-intensive industries that include potentially hazardous work. After several years of highly targeted efforts related to improving work safety through procedures, equipment and attitudes, Veidekke reached an important milestone in 2021.
“Veidekke recorded no serious occupational injuries in 2021, which has been a key goal for us. Although injury prevention efforts will always be necessary, zero serious injuries in 2021 shows that working systematically towards ambitious objectives secures results, and that we are on track, says Bengtsson.
In 2015, Veidekke was among the first companies listed on the Oslo Stock Exchange to adopt the climate goals set out in the Paris Agreement. In 2021, the group raised its climate target to achieving net zero emissions throughout its supply chains by 2045. Veidekke has implemented a greenhouse gas budget and is monitoring its climate targets in the same way as financial and occupational health and safety targets.
“Veidekke has a clearly stated strategy of taking an active role in the transition to a carbon-neutral society, and we fulfil this ambition by helping our clients make good climate choices in their projects. Identifying the most effective solutions requires early cooperation between client, advisers and contractor, and we seek to connect our experts with clients who have high ambitions,” says Bengtsson.
Veidekke’s annual and sustainability report for 2021 (pdf) is attached to this release and is also available for download. The report meets all regulatory content requirements for annual reports and accounts, in addition to information concerning corporate governance, shareholder information and sustainability. The company's annual financial statements in European Single Electronic Format (ESEF) are available in Norwegian on the group’s website.
This information is subject to a disclosure duty pursuant to section 5-12 of the Securities Trading Act.
For more information, contact:
Lars Erik Lund, EVP, +47 413 31 369
Jørgen Wiese Porsmyr, CFO,+47 907 59 058
Veidekke press photos
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Veidekke is one of Scandinavia's largest contractors. In addition to undertaking all types of building and civil engineering assignments, the group also maintains roads and produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and local experience. Its annual turnover is approximately NOK 38 billion, and half of its 7,800 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit every year since its inception in 1936.
| Title | File type |
| Annual and sustainability report 2021 |