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.Veidekke announced in November that the company intends to demerge its property development activities. Work to establish this business with a revised ownership structure is