Veidekke Asa · OSL:VEI
Veidekke Asa — Q2 2026 Earnings Presentation
22 slides from Veidekke Asa's earnings presentation, Aug 14, 2026
Slide 1: Q2 Second quarter 2026
Q2 Second quarter 2026 14 August 2026 Jimmy Bengtsson, Group CEO | Jørgen Wiese Porsmyr, CFO
Slide 2: Occupational health and safety
Occupational health and safety Our primary priority Number of serious injuries Sickness absence 12-month rolling, Veidekke employees, 12-month rolling, Veidekke employees hired staff and sub-contractors 7 6% 6 5.1% 5% 5 4% 4 4 3% 3 2% 2 1 1% 0 0% 2020 2021 2022 2023 2024 2025 2026 2020 2021 2022 202
Slide 3: Highlights Q2 2026
Questions? Email ir@veidekke.no Highlights Q2 2026 • Revenue NOK 12.3 billion – up 9% on Q2 2025 • Higher profit and improved margin • Strong order intake, order book increased to NOK 55.3 billion
Slide 4: Key financial figures
Key financial figures Second quarter Revenue Profit before tax NOK billion NOK million 800 14 700 12 600 10 500 8 400 6 12.3 670 11.2 10.8 11.3 300 9.9 538 4 484 200 387 355 2 100 0 0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 4
Slide 5: Increased order book
Increased order book Book-to-bill 1.2 over the past 12 months Revenue and order intake Order book Order book per segment 12-month rolling, NOK billion NOK billion Percent 50 60 100% 55 50 80% 45 45 40 60% 35 40 30 25 40% 20 35 15 20% 10 5 30 0 0% Jun-24 Jun-25 Jun-26 Jun-24 Jun-25 Jun-26 Jun-24 Jun-
Slide 6: Order intake NOK 17.9 billion
Order intake NOK 17.9 billion Order intake Q2 2026 NOK billion Norway Sweden Denmark 6.1 3.2 3.0 3.3 1.2 0.6 0.5 Residential Commercial Public Rock and Energy, industry, Transportation Road maintenance buildings buildings buildings foundation work water, drainage Construction segments Infrastructure
Slide 7: Q2 Results and financial position
Q2 Results and financial position Jørgen Wiese Porsmyr, CFO
Slide 8: Revenue, profit and margins
Revenue, profit and margins Group and business areas Q2 2026 Q2 2025 Amounts in NOK million Revenue Profit before tax Profit margin Revenue Profit before tax Profit margin Construction Norway 4 234 220 5.2% 4 024 160 4.0% Infrastructure Norway 3 046 215 7.1% 2 807 193 6.9% Construction Sweden 2 217
Slide 9: Construction Norway
Construction Norway Revenue and profit margin Profit before tax 5 6.9% 4 5.2% 288 4.3% 4.3% 4.0% 3 Revenue up 5% on Q2 2025 220 4.0 4.2 4.2 165 3.9 160 • Increase in Oslo and other operations in eastern Norway 2 3.5 148 1 Strong profit growth and margin improvement 0 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2
Slide 10: Infrastructure Norway
Infrastructure Norway Revenue and profit margin Profit before tax Q2 4 40% 39% 38% 3.1 37% 3.0 36% 35% 3 2.8 2.8 34% 33% 32% 31% 30% 29% 28% 27% 26% 25% 24% 23% 1.6 139 22% 21% 2 20% 19% 12.4% 18% 17% 16% 103 Revenue up 9% on Q2 2025 6.9% 7.1% 15% 6.5% 14% 13% 97 12% 11% 1 10% 9% 8% 7% 6% 5% • Stron
Slide 11: Construction Sweden
Construction Sweden Revenue and profit margin Profit before tax 3 4% 3.0% 3.0% 2.9% 3% 2.5% 3% 2 2.2 2.2 1.9 Revenue up 22% on Q2 2025 in local currency 2% 1.8 1.6 2% 66 65 1.6% • Higher activity levels across the business, 1 1% 47 53 particularly in Gothenburg and Southern Sweden 1% 25 0 0% Q2 25 Q
Slide 12: Infrastructure Sweden
Infrastructure Sweden Revenue and profit margin Profit before tax 3 8% 6.5% 6.1% 7% 5.9% 2.1 2.1 6% 1.8 1.7 2 1.6 5% 65 Revenue up 23% on Q2 2025 in local currency 5.1% 4% • Significantly higher volumes in Gothenburg 1 3% 91 103 137 128 2% 15 • Solid activity levels across the rest of the business 1
Slide 13: Denmark
Denmark Revenue and profit margin Profit before tax 1.0 0.9 0.9 1 14% 0.9 0.9 13% 12.9% 12% 11% 8.9% 10% 10.9% 7.6% 9% Revenue up 7% on Q2 2025 in local currency 8% 8.5% 7% 123 6% 94 • Solid activity across the business 5% 4% 76 80 3% 65 2% 1% Profit up 12% from Q2 2025 in local currency 0 Q2 25 Q3
Slide 14: Financial position
Financial position Balance sheet Amounts in NOK million 30 June 2026 30 June 2025 Fixed assets 8 223 8 447 Current assets (excluding cash, cash equivalents and financial investments) 8 147 8 548 Cash, cash equivalents and financial investments 3 609 1 292 Assets 19 979 18 287 Equity 2 632 2 529 Long
Slide 15: Financial position
Financial position Q2 highlights Net interest-bearing position NOK million • Strong operating cash flow of NOK 856 million in the quarter (NOK -167 million) • NOK 550 million advance payment received 687 upon signing of the Oslofjord Link contract -165 311 -201 697 -180 • Two acquisitions completed
Slide 16: Q2 Closing comments
Q2 Closing comments Jimmy Bengtsson, Group CEO
Slide 17: Focus on what we can influence
Focus on what we can influence Improving core processes Selectivity Execution Cost base Improvements Win the right projects Deliver projects according Maintain an efficient Improve performance by at the right price, with risks to plan or better, supported operating platform by turning around under-
Slide 18: Increased order book
Increased order book Growth in the order book for execution over the next 12 months Strong overall order situation Order book • The order book has increased significantly over the past NOK billion two years to NOK 55 billion 2024 2025 2026 55.3 • Order book for execution over the next 12 months is 1
Slide 19: Selectivity and execution
Selectivity and execution Progressive improvement in project margins Clear selection strategies and criteria Active project portfolio Project margin in active projects exceeding NOK 100 mill. (revenue divided into five equal groups) • Selecting projects in markets that support strong and sustainable
Slide 20: Sustainability in practice
Sustainability in practice Commercial solutions to sustainability challenges Fenderen, Bergen Mariakvartalet An office building A project with documented featuring mass timber biodiversity and climate construction, low-carbon benefits, incorporating new concrete (Extreme class), technology, recycled
Slide 21: Quarter summary
Quarter summary Increased activity and revenue • Revenue up 9%, with growth across all segment N Margin improvement • Profit margin of 5.0% over the past 12 months • Target of a sustained profit margin above 5% Strong order intake and visibility • Order book up 17% year to date • Order book schedule
Slide 22: Takk for
Takk for 2 2