Veidekke’s revenues up for 2015

Norwegian-based Veidekke has recorded revenues of NOK24.5 billion (€2.53 billion) for 2015 – an increase of 3% on 2014 – after an “excellent year” for the company.

Veidekke also saw its profits reach NOK1.04 billion (€147.72 million), compared with NOK967 million (€99.9 million) the previous year.

The company said its recent acquisitions – including the acquisition of 80% of the shares in civil engineering contractor Tore Løkke – has helped the company build a “solid financial position”.

Arne Giske, president and CEO of Veidekke, said, “We have strengthened our positions through acquisitions, we have seen a sharp increase in the order backlog, residential sales are healthy, and we have a solid financial position. This means we are entering 2016 at a running pace.”

He added, "Construction has seen consistently high activity in the fourth quarter. Growth and volume increases have marked building construction operations, while we are seeing good improvements in profitability in civil engineering operations.”

Veidekke’s construction operations recorded revenues of NOK 19.8 billion (€2.04 million), while its profit was NOK 644 million (€66.5 million).