“Veidekke enjoyed high activity levels in the second quarter, with both revenue and profits up compared to the same period last year. The revenue increase was particularly strong in Construction Norway. Our project portfolio is robustly profitable, with profits up year-on-year in most parts of the group,” says Group CEO Jimmy Bengtsson.
“A strong quarterly order intake brought our order book to NOK 49.2 billion at the end of June. Although the order intake was particularly high for Construction Norway, other parts of the group also reported a robust and diversified inflow of projects. Among other things, several major contracts were signed in the defence and critical infrastructure segments,” says Jimmy Bengtsson.
The group generated NOK 11.3 billion in revenue in Q2 2025, compared to NOK 10.8 billion in the second quarter of 2024. Construction Norway and Infrastructure Sweden achieved year-on-year revenue increases, while other operations reported stable earnings.
The quarterly pre-tax profit amounted to NOK 538 million, up 11% from NOK 484 million in Q2 2024. Most of the group’s operations improved their profit performance year-on-year, with the largest increases being seen in Construction Norway and Infrastructure Sweden on the back of, respectively, higher activity levels and improved capacity utilisation, and the Euromining acquisition in last year's fourth quarter. Overall, the profit margin was 4.7%, compared to 4.5% in the second quarter of 2024.
The group’s quarterly order intake was NOK 14.3 billion, up considerably on NOK 9.7 billion in the same period last year. At quarter-end, the order book stood at NOK 49.2 billion, up from NOK 41.1 billion at the same time last year and NOK 41.0 billion at the beginning of the year. Some 56% of the order book will be converted into revenue in the next 12 months.
Net interest-bearing assets totalled NOK 1.2 billion as at 30 June 2025, up from NOK 1.0 billion one year ago. Cash flow from operational activities in the first half of the year amounted to NOK 146 million, compared to NOK -123 million in the first half of 2024. The statement of financial position totalled NOK 18.3 billion as at 30 June, up from NOK 17.5 billion at the same time last year.
The group’s LTI (lost time injury) rate was 2.4 in the second quarter, compared to 3.0 in the preceding quarter and 2.8 in Q2 2024. No serious injuries were recorded during the quarter. The quarterly sick leave rate was 5.2%, compared to 6.1% in the preceding quarter and 5.3% in the second quarter of last year.
Revenues totalled NOK 20.4 billion in the first half of 2025, compared to NOK 20.3 billion in the first half of 2024. The pre-tax profit for the first half-year amounted to NOK 517 million, up from NOK 509 million in the same period last year. The overall profit margin totalled 2.5% as at 30 June 2025, and was thus on a par with last year’s figure.
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 strategy and sustainability, +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.
| Title | File type |
| Report Q2 2025 | |
| Presentation Q2 2025 | |
| Historical financial information per Q2 2025 | xlsx |