NCC Group

Earnings Release • Apr 29, 2009

April 29, 2009 No. 11/09

NCC Group pro forma 2008 and 2007

On Tuesday May 12, NCC will publish the interim report for the period January 1 to March 31, 2009. In view of the organizational changes implemented on January 1, 2009, this press release presents comparative pro forma figures for each quarter of 2008 and for full-year 2007.

Since 2002, NCC's housing operations have been conducted within the framework of the Construction units in Sweden, Norway, Denmark, Finland and Germany. During the strong business climate of recent years, housing operations have expanded within the Group and NCC has become one of the largest housing producers in the Nordic region. NCC's size and competencies create opportunities to further develop the business, and the Group's assessment is that the developers of the future will face demands that differ from those placed on the developers who succeeded in the recent economic boom, and not just in the form of dealing with a weaker market. NCC aims to achieve greater leverage from synergies across national borders in terms of platforms, technology, marketing and the allocation of capital, while also exploiting and develop its competencies and experience in how the development business should be conducted.

As of January 1, 2009, NCC's housing operations are combined in a single business area, NCC Housing, in order to increase their efficiency and strengthen them. Peter Wågström, the former President of NCC Property Development, is President of the new business area.

As of January 1, 2009, NCC's business areas are NCC Construction Sweden, NCC Construction Denmark, NCC Construction Finland, NCC Construction Norway, NCC Housing, NCC Property Development and NCC Roads. NCC Construction Germany has ceased to be a separate business area and is now part of NCC Housing.

NCC Housing develops and sells housing in selected markets in the Nordic region, the Baltic countries and Germany. The business area is active at all stages of the residential-development value chain (from idea and analysis, investment in land, concept development, design and project execution to marketing and sales). The Construction units in the various countries (apart from Germany, where production is included in NCC Housing) are commissioned by NCC Housing to construct the housing units on commercial terms.

Assets and liabilities attributable to the housing business have been transferred from the Construction units to NCC Housing. The policy for profit recognition regarding housing projects remain unchanged (see Note 1 of the 2008 Annual Report). NCC Housing's operating profit for

NCC AB

2008 includes costs of SEK 487 million for impairment losses on land and unsold housing units and of SEK 32 million for impairment of goodwill, as well as restructuring costs of SEK 106 million.

PROFORMA

	2007	2008	2008	2008	2008	2008
SEK M	Jan.-Dec.	Jan.-Mar.	Apr.-Jun.	Jul.-Sep.	Oct.-Dec.	Jan.-Dec.
Group
Orders received	63,344	11,993	17,408	12,794	9,670	51,864
Order backlog	44,740	45,123	46,165	45,288	40,426	40,426
Net sales	58,397	11,412	15,623	13,945	16,485	57,465
Impairment loss, land and unsold
completed housing	-9			-5	-532	-537
Impairment loss, goodwill	-90			-32		-32
Restructuring costs			-21	-44	-139	-204
Operating profit	2,790	169	968	787	294	2,219
Operating margin, %	4.8	1.5	6.2	5.6	1.8	3.9
NCC Construction Sweden
Orders received	28,165	6,599	7,337	5,888	5,232	25,056
Order backlog	20,003	20,541	21,553	21,771	19,638	19,638
Net sales	23,439	5,228	6,330	5,700	7,354	24,612
Restructuring costs				-25	-34	-59
Operating profit	936	198	279	291	385	1,154
Operating margin, %	4.0	3.8	4.4	5.1	5.2	4.7
NCC Construction Denmark
Orders received	4,666	1,113	765	768	606	3,253
Order backlog	2,992	3,218	2,933	2,882	2,525	2,525
Net sales	5,081	869	1,068	917	1,225	4,079
Operating profit	-25	27	26	34	32	119
Operating margin, %	-0.5	3.1	2.4	3.7	2.6	2.9
NCC Construction Finland
Orders received	8,127	1,035	2,175	1,220	981	5,411
Order backlog	5,676	4,960	5,301	5,135	4,686	4,686
Net sales	6,527	1,730	1,864	1,538	1,955	7,087
Restructuring costs					-2	-2
Operating profit	265	78	88	60	28	254
Operating margin, %	4.1	4.5	4.7	3.9	1.4	3.6
NCC Construction Norway
Orders received	6,743	635	1,600	822	489	3,546
Order backlog	6,765	5,674	5,438	4,701	3,120	3,120
Net sales	6,205	1,604	1,937	1,554	1,841	6,936
Restructuring costs					-37	-37
Operating profit	5	14	53	40	117	224
Operating margin, %	0.1	0.9	2.7	2.6	6.4	3.2
NCC Housing
Net sales	10,635	1,961	2,763	1,899	2,149	8,773
Impairment loss, land and unsold
completed housing	-9			-5	-482	-487
Impairment loss, goodwill				-32		-32
Restructuring costs			-21	-19	-66	-106
Operating profit	946	39	109	-176	-633	-660
Operating margin, %	8.9	2.0	4.0	-9.3	-29.4	-7.5
Total housing projects	8,896					11,545
Development rights, end of period	26,958	27,688	31,267	31,178	31,182	31,182
Development rights, change during the period	2,868	730	3,579	-89	4	4,224
Housing starts, during the period	4,428	414	766	389	-1	1,568
Housing units sold, during the period	3,708	546	964	548	358	2,416
Housing units under construction, end of period	6,270	6,084	5,891	5,403	4,065	4,065
Housing units under construction, change during the period	104	-186	-193	-488	-1,338	-2,205
Sales rate units under construction, end of period %	46	47	49	47	48	48
Work up rate units under construction, end of period %	55	57	60	63	71	71
Unsold housing units, end of period	371	412	462	532	831	831
Unsold housing units, change during the period	167	41	50	70	299	460

NCC AB

Mail address SE-170 80 SOLNA Street address Vallgatan 3, SOLNA Contact Tel: +46-8-585 510 00 Fax: +46-8-85 77 75 www.ncc.info

Corp. Reg. No. 556034-5174

PROFORMA continued

	2007	2008	2008	2008	2008	2008
SEK M	Jan.-Dec.	Jan.-Mar.	Apr.-Jun.	Jul.-Sep.	Oct.-Dec.	Jan.-Dec.
NCC Property Development
Net sales	3,583	441	331	292	1,071	2,133
Operating profit	780	181	122	92	340	735
Total property development projects	2,168					3,470
NCC Roads
Net sales	9,893	1,243	3,270	3,762	3,042	11,317
Impairment loss, goodwill	-90
Operating profit	679	-289	305	389	41	446
Operating margin, %	6.9	-23.2	9.3	10.4	1.3	3.9
Other items and eliminations
Net sales	-6,967	-1,665	-1,940	-1,717	-2,152	-7,472
Impairment loss, land and unsold
completed housing					-50	-50
Net sales	-797	-79	-14	56	-16	-53

For questions, please contact:

Ann-Sofie Danielsson, Chief Financial Officer; +46 (0)70-674 07 20 Johan Bergman, Investor Relations Manager; +46 (0)70-354 80 35

All of NCC's press releases are available at www.ncc.se

NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2008 sales of fully SEK 57 billion, with 20,000 employees.

NCC AB