Norway's Veidekke Q1 revenue rises 7%, returns to profit

Veidekke ASA

07/05/2026 06:22

Overview

Norway contractor's Q1 revenue rose 7% yr/yr to NOK 9.7 bln

Q1 pre-tax profit improved to NOK 27 mln from a loss last year

Company cites strong construction activity and cost controls for improved results

Outlook

Company says about 60% of order book will convert to revenue in next 12 months

Company reports strong momentum in construction operations and large order book

Result Drivers

CONSTRUCTION ACTIVITY - Higher activity and improved project profitability in Construction Norway drove profit gains

CAPACITY UTILISATION - Increased sales and better capacity utilisation boosted profits in Swedish and Danish operations

COST CONTROLS - Effective cost controls during the low season supported results, according to CEO Jimmy Bengtsson

Company press release: ID:nWkr63kqn

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
NOK 9.70 bln
NOK 9.51 bln (2 Analysts)
Q1 Orders
NOK 11.50 bln
Q1 Pretax Profit
NOK 27 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy."

Wall Street's median 12-month price target for Veidekke ASA is NOK197.00, about 5.2% above its May 6 closing price of NOK187.20

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

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.)