Veidekke: Q3 2025 results

06 Nov 2025 07:00 CET

Veidekke achieved revenues of NOK 10.7 billion in the third quarter of 2025, and
a pre-tax profit of NOK 721 million, equating to a profit per share of NOK 4.0.
The group's order book stood at NOK 47.5 billion at quarter-end.

"Veidekke has delivered its best quarterly performance ever, powered by a robust
portfolio and broad-based revenue growth. As in previous quarters of this year,
Infrastructure Norway has delivered the greatest profit improvement, reflecting
very high activity levels for the asphalt operation," says Group CEO Jimmy
Bengtsson.

"Our order book is robust, and we are seeing a strong inflow of exciting
projects for clients we already know well. This is particularly true of our
construction operations, which once again recorded a strong quarterly order
intake," says Bengtsson.

The group generated NOK 10.7 billion in revenue in Q3 2025, up 10% from NOK 9.7
billion in Q3 2024. Most of the group's operations reported increased earnings.

The quarterly pre-tax profit amounted to NOK 721 million, up from NOK 616
million in Q3 2024. All of the group's operations apart from Construction Sweden
improved their profit performance year-on-year. This development reflects a
higher order intake for Construction Norway and Hoffmann (Denmark) in recent
quarters, high demand and high activity levels for Infrastructure Norway's
asphalt operation, and last year's acquisition of Euromining by Infrastructure
Sweden. Overall, the profit margin was 6.8%, compared to 6.4% in the third
quarter of last year.

The group's quarterly order intake was NOK 7.2 billion, compared to NOK 7.6
billion in the same period last year. At quarter-end, the order book stood at
NOK 47.5 billion, up from NOK 41.0 billion in Q3 2024 and at the beginning of
the year. Approximately 57% of the order book will be converted into revenue in
the next 12 months.

Net interest-bearing assets totalled NOK 2.7 billion as at 30 September 2025, up
from NOK 2.1 billion one year ago. Cash flow from operational activities in the
first three quarters of the year amounts to NOK 1.8 billion, compared to NOK 1.0
billion in the same period last year. The statement of financial position
totalled NOK 19.0 billion as at 30 September, up from NOK 17.7 billion at the
same time in 2024. The increase is attributable to the acquisition of Euromining
in Q4 2024.

The group's LTI (lost time injury) rate was 5.0 in the third quarter, compared
to 2.4 in the preceding quarter and in Q3 2024. One serious injury occurred
during the quarter. The quarterly sick leave rate was 4.7%, compared to 5.2% in
the preceding quarter and 4.7% in the third quarter of last year.

This information is subject to a disclosure duty pursuant to section 5-12 of the
Securities Trading Act.

For more information, contact:
Jimmy Bengtsson, Group CEO, +47?984 70?000
Lars Erik Lund, EVP strategy and sustainability, +47?413 31 369
Jørgen Wiese Porsmyr, CFO, +47?907 59 058

Veidekk press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
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Veidekke is one of Scandinavia's largest contractors. In addition to undertaking
all types of building and civil engineering assignments, the group also
maintains roads and produces asphalt and aggregates. Veidekke emphasises
stakeholder involvement and local experience. Its annual turnover is
approximately NOK 41 billion, and half of its 8,000 employees own shares in the
company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit
every year since its inception in 1936.

More information:
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658874_Report_Q3_2025.pdf
658874_Presentation_Q3_2025.pdf