From the president and CEO:

Veidekke achieved a good result in the second quarter. Strict adherence to project margin requirements contributed to maintaining the Group’s good margins, but at the same time led to an increased reduction in turnover. The reduced level of activity is also related to the general market decline and financial crisis. However, the order backlog was strengthened in the second quarter, reaching a level slightly above that achieved at the turn of the year 2008/2009. This does not mean that the economic downturn is over, but we are seeing progress in several areas. We are particularly pleased with this quarter’s improvement in sales of housing.

Report of the Board of Directors for second quarter 2009:

KEY FIGURES (MNOK)	Q2 2009	Q2 2008	1 Jan- 30 Jun. 2009	1 Jan - 30 Jun 2008	July 2008 - June 2009	2008	2007
Operating revenues	4 186.2	5 580.7	7 511.5	9 918.1	16 988.7	19 395.3	19 335.9
Earnings before tax (EBT)	204.5	284.7	71.0	300.7	585.9	815.6	1 181.0
Earnings per share (NOK) *	1.2	1.5	0.4	1.6	3.3	4.5	7.1
Profit margin (%)	4.9	5.1	0.9	3.0	3.4	4.2	6.1
Net interest-bearing position	-905	-710	-905	-710	-905	-260	192
Backlog of orders. construction	10 839	12 560	10 839	12 560	10 839	10 564	13 263
* No dilution effect