NCC Group: Interim report January-June 1999

NCC GROUP: INTERIM REPORT JANUARY-JUNE 1999 * Consolidated income amounted to SEK 431 m. (200) after net financial items. The corresponding pro forma figure, which also includes Superfos Construction during the preceding year, was income of SEK 424 m. (110). * On a rolling 12-month basis, income amounted to SEK 961 m., compared with SEK 730 m. for full-year 1998. The corresponding pro forma figure on a rolling 12-month basis, including Superfos Construction, was income of SEK 1,096 m., compared with SEK 782 m. for full-year 1998. * Consolidated income after full tax amounted to SEK 323 m. (148), equal to earnings of SEK 3.00 (1.40) per share. On a rolling 12-month basis, earnings amounted to SEK 6.60 per share, compared with SEK 5.00 per share for full-year 1998. * Total orders received by construction operations rose by 13 percent to SEK 17.5 billion (15.4). "The Swedish and Finnish construction markets remain strong, and the trend in Norway and Denmark appears to be better than earlier forecasts for 1999 had indicated. On the whole, we anticipate a growing Nordic construction market during 1999," comments Jan Sjöqvist, President and Chief Executive Officer of the NCC Group. "The merger of NCC's Danish subsidiary NCC Rasmussen and Schiøtz with Superfos Construction has now been successfully completed. NCC has grown by an annual average of slightly more than 20 percent since 1994. In order to further sharpen our focus on strategic and growth issues, the Group's executive management organization has been changed. At the same time, a special business development staff, with responsibility for acquisitions and external monitoring, has been established" adds Jan Sjöqvist. "The sales of Neptun Maritime and BPA were two major steps in ongoing efforts to focus operations on the core business of construction and real estate development activities. Now that the restructuring process is essentially completed, the Invest business area will be discontinued as of the end of 1999," Jan Sjöqvist concludes. For further information, please contact: Bo Friberg, Senior Vice President - Business Control (Tel: +46-70-621 04 40) or Hans-Olof Karlsson, Senior Vice President - Corporate Communications (Tel:+46-8-655 22 79). Appendix: Interim report for the six months ended June 30, 1999 (11 pages). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/18/19990818BIT00310/bit0001.doc Full Report http://www.bit.se/bitonline/1999/08/18/19990818BIT00310/bit0002.pdf Full Report