Veidekke ASA : Strong results from Veidekke Industry in Q3

Veidekke presents its full results for the third quarter on 7 November 2013.

Preliminary financial numbers for Veidekke Industry show revenue of NOK 1,238 million for this division isolated, compared to NOK 1,093 million in the same period in 2012. Preliminary profit before tax for Veidekke Industry is NOK 178 million compared to NOK 115 million in the third quarter 2012. This corresponds to a preliminary calculated profit margin of 14%, compared to 10% in the same period last year.

The preliminary results for Veidekke Industry are significantly above the average of estimates from analysts covering Veidekke.

The profit improvement from the third quarter 2012 mainly relates to the asphalt activities, which has seen a high activity level and positive effects of ongoing improvement measures for both market activities and operating costs. The other two business areas within the industrial operations - aggregates, and road maintenance - also show somewhat improved results compared to the third quarter 2012.

For more information please contact:
Executive Vice President Industry/Property Jørgen Wiese Porsmyr, tlf +47 907 59 058
Jorgen-wiese.porsmyr@veidekke.no
SVP Finance Jørgen Michelet, tlf +47 917 43 856,
jorgen.michelet@veidekke.no

Veidekke Industry comprises the business areas Asphalt, Aggregates, and Road Maintenance. The combined annual revenue is approximately NOK 3.2 billion, of which Asphalt accounts for approximately NOK 2.1 billion, Aggregates for approximately NOK 0.4 billion, and Road Maintenance for approximately NOK 0.7 billion.