Veidekke

Earnings Release • Mar 28, 2022

Veidekke ASA: Annual and sustainability report 2021

Veidekke ASA: Annual and sustainability report 2021

Veidekke published its annual and sustainability report for 2021 today. The

group achieved solid results, and proposes to distribute the entire annual

profit for 2021 in dividends to shareholders.

In 2021, Veidekke increased its profit to almost the same level as before the

property development operation was divested. Veidekke is now a streamlined

contractor, with operational focus and a shorter path between management and

projects. The reorganisation into construction and infrastructure operational

units in Norway and Sweden emphasizes this focus.

The group entered 2022 with an order book that provides a solid basis for

keeping up activity levels in the year ahead. With a strong balance sheet,

Veidekke is well-positioned for further profitable growth, although more

uncertainty is attached to future market developments following the invasion of

Ukraine.

"After two years of pandemic, came the cruel attack on Ukraine, leading to great

suffering for those affected and new uncertainty about the future. In addition

to the enormous humanitarian consequences, lasting impact of the war on the

world economy and the global risk situation appears inevitable, and we are, as a

matter of course, closely monitoring developments, says Jimmy Bengtsson, Group

CEO in Veidekke.

Construction and civil engineering are human resource-intensive industries that

include potentially hazardous work. After several years of highly targeted

efforts related to improving work safety through procedures, equipment and

attitudes, Veidekke reached an important milestone in 2021.

"Veidekke recorded no serious occupational injuries in 2021, which has been a

key goal for us. Although injury prevention efforts will always be necessary,

zero serious injuries in 2021 shows that working systematically towards

ambitious objectives secures results, and that we are on track, says Bengtsson.

In 2015, Veidekke was among the first companies listed on the Oslo Stock

Exchange to adopt the climate goals set out in the Paris Agreement. In 2021, the

group raised its climate target to achieving net zero emissions throughout its

supply chains by 2045. Veidekke has implemented a greenhouse gas budget and is

monitoring its climate targets in the same way as financial and occupational

health and safety targets.

"Veidekke has a clearly stated strategy of taking an active role in the

transition to a carbon-neutral society, and we fulfil this ambition by helping

our clients make good climate choices in their projects. Identifying the most

effective solutions requires early cooperation between client, advisers and

contractor, and we seek to connect our experts with clients who have high

ambitions," says Bengtsson.

Veidekke's annual and sustainability report for 2021 (pdf) is attached to this

release and is also available for download (http://veidekke.com/en/reports-and

-presentations/). The report meets all regulatory content requirements for

annual reports and accounts, in addition to information concerning corporate

governance, shareholder information and sustainability. The company's annual

financial statements in European Single Electronic Format (ESEF) are available

in Norwegian on the group's website.

This information is subject to a disclosure duty pursuant to section 5-12 of the

Securities Trading Act.

For more information, contact:

Lars Erik Lund, EVP, +47?413 31 369

Jørgen Wiese Porsmyr, CFO,+47?907 59 058

Veidekke press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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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 38 billion, and half of its 7,800 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.