Veidekke ASA: Veidekke's Economic Activity Report: Continued growth in building and construction in Scandinavia
(Thomson Reuters ONE) -
"We are expecting annual growth of 4% in the Scandinavian building and
construction market in 2015 and 2016. The greatest contribution is from Sweden,
particularly from the residential market. In Norway the growth outlook is more
moderate for building, but activity is high in the construction sector," says
Rolf Albriktsen, Strategy and Market Director with Veidekke.
Lower growth in Norway
Most estimates show continued growth in the Norwegian economy, but that growth
will be moderate in 2015 and 2016 before picking up somewhat in 2017.
"We expect activity to remain high in the building and construction market in
2015 and 2016, and a combined annual market growth of 2%. The greatest increase
is in the construction market, where public spending on transport provides
annual growth of 6%. Private non-residential building is the only segment
showing a downturn, where lower start-ups in shopping centres and retail
contribute to a reduction of 2%," Albriktsen says.
The Norwegian residential market is still characterized by rising prices and
stable sales Despite the downturn in the Norwegian economy and a view to
increased unemployment, the forecasts still predict a 5% increase in home prices
in 2015 and 3% in 2016. At the same time, greater regional differences are
expected.
High levels of activity in the Swedish markets
"The Swedish building and construction market has seen strong developments so
far in 2015, and we expect a 7% growth in investment in 2015 and 3 % in 2016.
The private sector is the most important driving force with an annual growth in
the residential market of 9% and 6% for non-residential building in 2015 and
2016. The forecast for the construction market in Sweden shows moderate growth,
with large regional transport projects in the starting blocks," Albriktsen
continues.
Growth, but challenges remain in Denmark
"Improvements in the general economy have not yet impacted the building and
construction market in Denmark, but we are expecting an annual market growth of
2% for 2015 and 2016. The private segment is expected to pick up slightly in
2016 due to a general improvement in the economy Public investment is expected
to drop due to a need for budget cuts, while there is much to indicate a rebound
in the Danish residential market," Albriktsen concludes.
For press photos, see www.flickr.com/photos/veidekke, for more information,
contact:
Rolf Albriktsen, Startegy and Market Director, tel. +47 21 05 75 71 /
+47 90 69 11 10, rolf.albriktsen(at)veidekke.no
Kristoffer Eide Hoen, Consultant, tel. +47 21 05 77 68 / +47 97 67 54 34,
kristoffer.eide.hoen(at)veidekke.no
Helge Dieset, Communications Manager, tel. +47 90 55 33 22,
helge.dieset(at)veidekke.no
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Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of construction and civil
engineering contracts, maintains roads, and produces asphalt and aggregates. The
company is characterised by involvement and local knowledge. Revenue is 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 posted 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.
Presentation Economic Activity Report September 2015:
http://hugin.info/172/R/1952069/709976.pdf
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Source: Veidekke ASA via GlobeNewswire
[HUG#1952069]
Unternehmensinformation / Kurzprofil:
Datum: 15.09.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 420172
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Kategorie:
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