Veidekke ASA: Strong results for Veidekke
(Thomson Reuters ONE) -
Veidekke's improvement continues, with the fourth quarter bringing a profit of
NOK 368 million and revenue of NOK 6.6 billion. Profit for the full year 2014
was NOK 967 million and revenue was up to NOK 23.9 billion. "We had both growth
and increased profit in the last quarter of the year. In addition, the backlog
is good and the company entered 2015 with a solid financial position," says
President & CEO Arne Giske.
Veidekke's Q4 revenue amounted to NOK 6,619 (6,146 in 2013) million and profit
was NOK 368 (335) million. This gives a profit margin of 5.6% (5.5%). Revenue
for the full year 2014 was NOK 23,863 (21,191) million. Profit before tax was
NOK 967 (776) million, with a profit margin of 4.1% (3.7%). The total order
backlog is now NOK 17.1 (18.2) billion. The figures are taken from the segment
accounts. Earnings per share (IFRS) was NOK 6.30 (4.50) for the year. Veidekke's
Board proposes that the dividend be increased from NOK 3.00 per share in 2013 to
NOK 3.50 per share for the year 2014.
"Construction operations had a high level of activity in all countries in the
fourth quarter. Norway and Denmark show consistently good margins, while in
Sweden we need to improve profitability. With a satisfactory order situation, a
good position in commercial and residential buildings, and major infrastructure
projects coming to the market, everything is in place for higher earnings," says
Arne Giske.
"The fourth quarter has also been positive for our property development
operations, with strong sales in both Norway and Sweden in addition to realised
development gains. The good housing market appears to be continuing in 2015 in
both countries," he adds. At the end of 2014, Veidekke had 1,149 (1,469)
residential units under construction, a sales ratio of 82% (74%) and a land bank
containing 10,900 (10,400) units.
"This has been a good year for our industrial operations, with the end of the
year having been particularly strong - for the first time, we have produced 2.6
million tonnes of asphalt and over 8 million tonnes of aggregates. Our strategic
positions and improvements in asphalt, aggregates and road maintenance have paid
off extremely well," concludes President & CEO Arne Giske.
Despite systematic preventive OHS work, a fatal accident occurred at one of
Veidekke quarries in November. An investigation group has been appointed, and
necessary measures have and will be implemented to prevent similar accidents.
The Group's LTI rate was 5.5 (5.2) at the end of Q4 and sickness absence was
4.0 (4.2). The figures are on a 12 months rolling basis.
See also the Board of Directors' Report for Q4 2014, which is attached to this
press release.
For press photos, see www.flickr.com/photos/veidekke, for more information,
contact:
President & CEO Arne Giske, tel. +47 21 05 50 00 / 90 58 95 26,
arne.giske(at)veidekke.no
CFO Terje Larsen, tel. +47 90 68 78 51, terje.larsen(at)veidekke.no
Director of Communications Grete Nykkelmo, tel. +47 913 11 000,
grete.nykkelmo(at)veidekke.no
Veidekke is one of Scandinavia's largest contractors and property developers.
The company undertakes all types of building construction and civil engineering
contracts, maintains roads and produces asphalt, crushed stone and gravel. The
company's operations are characterised by involvement and local knowledge.
Revenue is just under NOK 24 billion (2014), and half of the 6,400 employees own
shares in the company. Veidekke is listed on the Oslo Stock Exchange and has
always reported a profit since it was founded in 1936.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Report Q4 2014:
http://hugin.info/172/R/1893731/671098.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Veidekke ASA via GlobeNewswire
[HUG#1893731]
Unternehmensinformation / Kurzprofil:
Datum: 12.02.2015 - 07:01 Uhr
Sprache: Deutsch
News-ID 371091
Anzahl Zeichen: 4679
contact information:
Town:
Oslo
Kategorie:
Business News
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