NCC Group - pro forma 2000

NCC Group - pro forma 2000 The NCC Group will present its interim report for the first quarter of 2001 on May 9 at 7.30 a.m. In order to improve the standard of the financial information disseminated to the market, a number of changes to the structure and contents of the interim report are being implemented. The changes will not affect the reporting of Group-level financial data for 2001. On the other hand, they will affect the comparative figures for 2000. Seasonal variations always have an adverse impact on NCC's first-quarter earnings. These effects were accentuated by the acquisition of Rieber Roads, which became effective on November 1, 2000. The acquisition of Rieber Roads also increased the NCC Group's currency exposure. If Rieber Roads had been included in NCC's accounts throughout 2000, the NCC Group's loss after financial items for the first quarter of 2000 would have amounted to SEK 314 M. Several changes have been made at business-area level. As of 2001, a new organization has been introduced. Starting in 2001, costs that were previously assigned to the corporate level are allocated to the various business areas. This change has an adverse impact on the business areas' results. At the same time, NCC is starting to report operating profit before financial items and taxes but including depreciation (EBIT) at the business-area level. A pro forma calculation of earnings and sales in 2000 is presented below, based on the assumption that the Group had the organization and accounting structure that was introduced in 2001. Preparation of the pro forma accounts is based on the following principles: · Figures for NCC's former business areas have been recomputed to align with the new organization · Rieber Roads, which was acquired with effect from November 1, 2000, has been included in the figures for Industry and Contracting in 2000 · As of 2001, a large share of corporate-level costs has been allocated to the various business areas. This was also effected on a pro forma basis. · Accordingly, calculation of the figures for NCC's six new business areas is based on the following: Contracting: Building + Civil Engineering + Phönix International (part of Rieber, Jan-Oct) minus Building Services Region minus Telecom A/S minus corporate costs Housing: Housing minus corporate costs Property Development: Real Estate minus corporate costs Industry: Industry + Rieber excluding Phönix International (Jan-Oct) minus corporate costs Telecom: Telecom A/S + Telecom within NCC AB (Oct-Dec) minus corporate costs Service: Building Services Region minus corporate costs Other and eliminations: Corporate costs minus Telecom within NCC AB (Nov-Dec) Pro forma net sales per quarter: [REMOVED GRAPHICS] Pro forma operating profit/loss including depreciation (EBIT) per quarter: [REMOVED GRAPHICS] Pro forma operating margin (EBIT): [REMOVED GRAPHICS] Comparative pro forma data - actual figures for previous periods [REMOVED GRAPHICS] For further information, please contact: Annica Gerentz, Investor Relations (Tel: + 46 8 655 22 04 or +46 70 398 42 09) An information meeting for media and capital market representatives will be held on May 9, from 9.30 to 11.00 a.m., at NCC's premises. The address is Vallgatan 5 (the building next to NCC's Head Office, whose address is Vallgatan 3). The location is called Infoforum. Light refreshments will be served from 9.00 a.m. Notification of attendance should be sent to Anita Sundell, Corporate Communications, NCC AB (Tel: + 46 8 655 22 35; e-mail: anita.sundell@ncc.se) All of NCC's press releases are available on www.ncc.se NCC is one of the leading construction and property development companies in the Nordic and Baltic Sea region. NCC has annual sales of approximately SEK 40 billion, with 25,000 employees. The NCC Group is divided into six business areas: Contracting, Housing, Property Development, Industry, Telecom and Service. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/25/20010425BIT01470/bit0003.doc http://www.bit.se/bitonline/2001/04/25/20010425BIT01470/bit0003.pdf