Veidekke Asa · OSL:VEI
Veidekke Asa — Q1 2021 Earnings Presentation
14 slides from Veidekke Asa's earnings presentation, May 6, 2021
Slide 1: Presentation Q1 2021
Presentation Q1 2021 6. mai 2021 6 May 2021 CFO Jørgen Wiese Porsmyr Photo: Hundven-Clements Photography
Slide 2: Occupational health and safety
Occupational health and safety Our primary priority Number of serious injuries Sickness absence 12-month rolling, Veidekke employees, Veidekke employees hired staff and sub-contractors 14 6% 12 5% 10 4% 8 3% 6 2% 4 2 1% 0 0% 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2 © Veidekke
Slide 3: Covid-19 had limited impact on production in Q1
Covid-19 had limited impact on production in Q1 ● More infection outbreaks in individual projects ● Entry restrictions pose challenges to planned progress in individual projects in Norway ● No significant impact on financial results for the quarter ● Extraordinary infection-control measures may impa
Slide 4: Highlights Q1 2021
Highlights Q1 2021 ● Revenues on a par with Q1 2020; low season in parts of the operations ● Improved profits ● Divestment of Rogaland asphalt and BYTTE UT aggregates operations was completed and contributed to a profit for the quarter ● Satisfactory quarterly order intake Veidekke’s subsidiary Arco
Slide 5: Key financial figures
Key financial figures Q1 revenues and profits Q1 revenue Q1 pre-tax profit NOK billion NOK million 9 50 28 0 6 -77 8.4 -86 8.1 8.3 -50 -116 7.0 3 -100 0 2018 2019 2020 2021 -150 2018 2019 2020 2021 5 © Veidekke
Slide 6: Revenue, profits and margins
Revenue, profits and margins Group and segments Q1 2021 Q1 20201 Amounts in NOK million Revenue Pre-tax profit Margin Revenue Pre-tax profit Margin Construction in Norway 3 471 113 3.3% 3 580 119 3.3% Infrastructure in Norway 1 463 -132 -9.1% 1 683 -207 -12.3% Sweden 2 827 36 1.3% 2 596 28 1.1% Denm
Slide 7: Construction in Norway
Construction in Norway Q1 2021 REVENUE AND MARGIN BY QUARTER NOK billion • Revenue decreased by 3 % 5 5% 3.9% • Mainly limited to the Trondheim region 4 3.5% 4% 4.1 • Profits and margin on a par with a year ago 3 3.6 3.3% 3.6 3.4 3.8% 3.5 3.3% 3% • The Oslo area has high profitability and constitute
Slide 8: Infrastructure in Norway
Infrastructure in Norway Q1 2021 REVENUE AND MARGIN BY QUARTER Q1 PRE-TAX PROFIT NOK billion NOK million • Revenue dropped by 13% 4 15% 100 9.5% 36 • Decrease in civil engineering revenue 3 10% 14 2 2.8 0 2.3 -29 • Low season in Asphalt and Aggregates 1 1.7 2.0 5% 4.5% 1.5 4.0% 0% • Profits and prof
Slide 9: Sweden
Sweden Q1 2021 REVENUE AND MARGIN BY QUARTER NOK billion • Revenue increased by 5% (in local currency) 4 5% • Revenue increase in Construction (15%); from residential 3.5 4% 3 and public sector segments 3.3 2.8 2.8 3% 2.6 • Revenue decrease in Infrastructure (-12%) 2 2.7% 3.0% 2.8% 2% • Profits and
Slide 10: Denmark / Hoffmann
Denmark / Hoffmann Q1 2021 REVENUE AND MARGIN BY QUARTER NOK million • Revenue decreased by 4% (in local currency) 1 200 11.4% 12% • Strong Q1 profits 1 000 7.4% 10% 800 7.0% 8% • Consistently satisfactory project profitability 6.2% 600 678 686 6% 653 • Order book 635 621 400 5.0% 4% • Good order in
Slide 11: Financial position
Financial position Balance sheet Amounts in NOK million 31 March 2021 31 March 2020 Fixed assets 6 262 6 500 Current assets (excluding cash, cash equivalents and financial investments) 6 842 6 462 Cash, cash equivalents and financial investments 3 442 725 Assets, discontinued operations - 9 147 Asse
Slide 12: Financial position
Financial position Change in net interest-bearing assets Key points NOK million • Weak cash flow due to low season in parts of the operation • Net investments in fixed assets amounted to NOK 93 million • Settlement for the sale of Rogaland operation amounted to NOK 135 million. Change in Net 31 Dec.
Slide 13: VEDLEGG
VEDLEGG • • • 1
Slide 14: Order book as at 31 March 2021
Order book as at 31 March 2021 Amounts in NOK million Construction in Norway Infrastructure in Norway Sweden Denmark Total Residential buildings 4 641 - 3 624 102 8 368 Commercial buildings 2 839 - 3 822 1 845 8 506 Public buildings 5 382 - 4 512 1 046 10 940 Transportation infrastructure – road - 2