Veidekke: Q2 2026 results
Veidekke achieved revenues of NOK 12.3 billion in Q2, and a pre-tax profit of NOK 670 million. The group's quarterly order intake amounted to NOK 17.9 billion, bringing the order book to NOK 55.3 billion as at 30 June 2026.
"Veidekke had a strong second quarter, with solid revenue growth, higher profits and improved profitability. The profit margin was 5.4% for the quarter, and now stands at 5.0% for the last 12 months. It is good to see all the business areas contributing to the group's growth. The asphalting season had a strong start, with increased volumes and higher revenues, and the project portfolio continues to deliver good margins," says Group CEO Jimmy Bengtsson.
"Our order intake is very high, with several new construction projects in Norway, including the contract to construct the Oslofjord Link, bolstering an already robust order book. Veidekke's solid financial position was further strengthened through positive liquidity developments throughout the first half of the year," says Bengtsson.
Veidekke achieved revenues of NOK 12.3 billion in Q2 2026, up 9% from NOK 11.3 billion in the second quarter of 2025. With the exception of the Danish construction operation, which delivered stable revenues year-on-year, all Veidekke operations reported increased activity levels in Q2.
The quarterly pre-tax profit amounted to NOK 670 million, compared to NOK 538 million in Q2 2025. All the operations improved their profit performance, primarily due to increased volumes and improved capacity utilisation. Overall, the profit margin was 5.4%, compared to 4.7% in the second quarter of 2025.
The group's quarterly order intake was NOK 17.9 billion, compared to NOK 14.3 billion in the same quarter of 2025. At quarter-end, the order book amounted to NOK 55.3 billion, up from NOK 49.2 billion at the same time last year. Some 55% of the order book will be converted into revenue in the next 12 months.
The group's LTI (lost time injury) rate was 3.8 in the second quarter, compared to 3.5 in the preceding quarter and 2.4 in Q2 2025. There was one serious injury during the quarter. The quarterly sick leave rate was 4.7%, down from 5.3% in the preceding quarter and 5.2% in the second quarter of last year.
Net interest-bearing assets totalled NOK 3.7 billion as at 30 June 2026, compared to NOK 1.2 billion one year ago. Cash flow from operational activities in the first half of the year amounted to NOK 1.7 billion, up from NOK 146 million in the first half of 2025. The statement of financial position totalled NOK 20.0 billion as at 30 June, up from NOK 18.3 billion at the same time last year.
Revenues totalled NOK 22.0 billion in the first half of 2026, compared to NOK 20.4 billion in 2025. All Veidekke operations reported increased activity levels. The pre-tax profit for the first half-year amounted to NOK 697 million, up from NOK 517 million in the same period last year. The profit improvement is due to increased volumes and improved capacity utilisation. The profit margin totalled 3.2% as at 30 June 2026, compared to 2.5% one year ago.
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.