Veidekke: Annual and sustainability report 2023
Veidekke’s annual and sustainability report for 2023 was published today. In a challenging market, the company boosted its revenue, secured a strong order book and improved its underlying profit for the year. The board of directors has proposed to distribute the entire annual profits of NOK 7.9 per share in dividends to shareholders.
“Dealing with all kinds of market conditions, including more demanding scenarios, is at the core of Veidekke. In the past year we again demonstrated our ability to adapt to changing circumstances and find solutions which enable us to fulfil our promises to both customers and shareholders, in the form of reliable delivery and profitability”, says Jimmy Bengtsson, group CEO at Veidekke.
“As of early 2024, Veidekke is well-positioned, with a strong, balanced portfolio of high-quality projects and controlled risks. With our sizeable order book, flexible business model, strong financial position and solid balance sheet, we are in a strong position to capitalise on market opportunities and deliver on an attractive dividend policy,” says Bengtsson.
The annual report also includes a sustainability report that covers environmental, social and governance impacts.
“Sustainability and social responsibility are cornerstones of our strategy. Veidekke wants to be a driving force behind the transition to a zero-emissions society and actively promote strong climate solutions. The innovations that make a difference are those created in collaboration with enterprising customers, suppliers and other partners who share our ambitions,” says Bengtsson.
Veidekke has set science-based targets to reduce its greenhouse gas emissions by 50% by 2030 and to reach net zero emissions by 2045. In 2023, PWC's climate index highlighted Veidekke as one of nine companies listed on the Oslo Stock Exchange that have reduced their greenhouse gas emissions in line with the Paris Agreement. Veidekke is also on the A-list of the internationally recognised CDP climate reporting index. Since 2018, Veidekke has cut greenhouse gas emissions from its own operations by in average 9% per year and is well within its climate budgets both for its own emissions (scopes 1 and 2) and the value chain (scope 3).
“To be able to deliver on our ambitious strategy, we need expertise and commitment at every level of our organisation. Our people are the engine that propels Veidekke forward, and in future we are going to need more of them. That is why we have launched several initiatives to showcase attractive career options in the construction industry and at Veidekke,” says Jimmy Bengtsson.
Veidekke's annual and sustainability report for 2023 (pdf) and the company's annual accounts in European Single Electronic Format (ESEF) are attached to this release and are also available for download. The report responds to statutory requirements for annual reports and accounts, and contains additional information on corporate governance, shareholder information and sustainability work.
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, +47 413 31 369
Jørgen Wiese Porsmyr, CFO,+47 907 59 058
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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 43 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.
