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Estonia's Nordecon Q3 revenue rises 62% on public, infrastructure projects

Estonia's Nordecon Q3 revenue rises 62% on public, infrastructure projects


Overview

  • Estonia construction group's Q3 revenue rose 62% yr/yr, driven by public and infrastructure projects

  • Q3 Comprehensive income attributable to shareholders and EPS were stable yr/yr as rising costs weighed on margins

  • Order book increased 3% yr/yr, with growth in both Buildings and Infrastructure segments


Outlook

  • Nordecon says Estonian construction market shows moderate recovery, with progress varying by segment

  • Company says market supported by national defence and infrastructure investment, residential construction remains subdued

  • Nordecon says focus remains on managing risks from rising input costs and market changes


Result Drivers

  • PUBLIC BUILDINGS - Revenue from public buildings rose about 80% yr/yr, supporting overall growth in the Buildings segment

  • INFRASTRUCTURE PROJECTS - Infrastructure segment revenue nearly doubled, mainly due to Rail Baltica and national road construction work

  • RISING INPUT COSTS - Profitability continued to be affected by higher input prices and lower average profit margins on ongoing projects


Company press release: ID:nGNE9lfkGm


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 89.18 mln

Q3 EPS

EUR 0.06

Q3 Net Income

EUR 1.79 mln

Q3 Basic EPS

EUR 0.06

Q3 Gross Profit

EUR 4.22 mln

Q3 Operating Income

EUR 2.74 mln


Reuters Recommended Reads

  • Nov 2 - Estonia's Infortar Q3 revenue falls, net profit declines

  • Nov 4 - Construction firm NYAB Q3 operating profit rises on order intake

  • Nov 4 - Canada's North American Construction Q3 revenue rises; tightens FY outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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