Estonia's Nordecon Q1 revenue rises 32%, returns to profit

Nordecon AS

07/05/2026 06:29

Overview

Estonia construction group's Q1 revenue rose 32% yr/yr, driven by Buildings and Infrastructure segments

Company returned to profit in Q1 with net income of EUR 261,000 after prior-year loss

Order book grew 31% yr/yr, supported by public buildings and infrastructure contracts

Outlook

Nordecon expects business volumes to increase in 2026

Company says construction sector is expected to grow by 2% in constant prices this year

Company sees construction market stabilising, with no significant sector growth expected

Result Drivers

PUBLIC BUILDINGS CONTRACTS - Revenue growth in the Buildings segment was driven by increased activity in the public buildings subsegment

INFRASTRUCTURE PROJECTS - Infrastructure segment revenue increased more than 2.5 times, mainly due to large-scale road and Rail Baltica contracts

GROSS MARGIN IMPROVEMENT - Gross margin improved year-on-year in both segments, with Buildings segment margin rising to 8.8% and Infrastructure losses narrowing

Company press release: ID:nGNE1Tcpyj

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 52.003 mln
Q1 EPS
EUR 0
Q1 Net Income
EUR 261,000
Q1 Basic EPS
EUR 0
Q1 Gross Profit
EUR 2.94 mln
Q1 Operating Income
EUR 1.12 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)