Veidekke ASA: Writes down the project portfolio in the Norwegian civil engineering business
Following new assessments of the project portfolio, Veidekke has decided to perform a write-down of NOK 550 million in the Norwegian civil engineering business. The write-down is primarily related to infrastructure projects where there is great uncertainty pertaining to the revenue base. The company is taking immediate action to improve profitability and risk management in large civil engineering projects and is making changes in corporate management to further focus the Norwegian civil engineering business. During 2017 Veidekke implemented a major reorganisation and realignment of the