Veidekke

Earnings Release • Jan 4, 2024

Veidekke: Building activity centre in Sandefjord

Veidekke: Building activity centre in Sandefjord

Veidekke has been commissioned by Sandefjord municipality to build an

environmentally certified activity centre with workplaces for residents with

permanent adaptation needs. This will be a design and build contract valued at

close to NOK 150 million, excluding VAT.

"We are very pleased that we have been awarded yet another commission for

Sandefjord municipality, which is one of our most important recurring customers.

The activity centre meets an important need for society, and we consider it very

meaningful to build such an important building. We are therefore particularly

pleased that we won the fierce competition for the commission where the award

criteria were 40% price and 60% quality," says district manager Lars N. Hjertås

with Veidekke Bygg Vestfold og Telemark.

The activity centre will be located at Helgerød outside Sandefjord with a gross

area of approximately 4,300 m[2] across two floors. The project also includes

rerouting of stormwater pipes and a stream opening, lime stabilisation of the

ground, landscaping and the construction of a new pedestrian and cycle path.

Sandefjord municipality has chosen to incorporate the option of emission-free

construction sites, which means that only electricity or hydrogen will be used

as an energy source at the construction site. In addition, carbon emissions from

building materials will be up to 30% lower than in a reference building and

energy class A. Waste production will be reduced to less than 25 kg per gross

square metre, while the recycling rate will be at least 95%.

"Sandefjord municipality has high environmental ambitions for the project, and

it will be environmentally certified as BREEAM-NOR level Excellent. This

coincides very well with Veidekke's strategy of being part of the climate

solution," Hjertås concludes.

Construction is scheduled to start in early February with completion in the

autumn of 2025. The commission is included in Veidekke's order book for the

fourth quarter.

For further information, please contact:

District manager Lars N. Hjertås, tel. +47 92 29 71 92, lars.hjertas@veidekke.no

Communications Manager Helge Dieset, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's biggest contractors and property developers.

The company undertakes all types of building construction and civil engineering

contracts, develops residential projects, maintains roads, and produces asphalt

and aggregates. Veidekke emphasises stakeholder involvement and local

experience. Annual turnover is approximately NOK 39 billion and around half of

its 8600 employees own shares in the company. Veidekke is listed on the Oslo

Stock Exchange and has always posted a profit since it was founded in 1936.