Veidekke — Earnings Release 2014

Mar 9, 2015

Veidekke ASA: Veidekke's Economic Activity Report: Continued growth for building and construction in the coming years

Veidekke ASA: Veidekke's Economic Activity Report: Continued growth for building and construction in the coming years

"The building and construction market has been very good in the past year, and

the trend remains positive. For 2015 and 2016 we expect an annual volume growth

of 3% in the Scandi­navian market, and the greatest growth will be in Sweden,"

says Rolf Albriktsen, Strategy and Market Director with Veidekke.

High level of activity in Norway, but lower growth

A decline in activity in the oil industry has a negative effect on the Norwegian

economy, but low interest rates and a good labour market in general make a

positive contribution.

"We expect an annual growth of 2% in the Norwegian building and construction

market for 2015 and 2016. The level of activity in construction is high and will

be the "engine" in the next two years due to strong public investments in the

transport sector. For housing investments we expect annual growth of 1%,

although prices will rise by 5% in 2015 and 3% in 2016 respectively. Price

developments will be most pronounced in the major city regions and weakest in

the Stavanger area," Albriktsen says.

Full speed ahead and greatest growth in Sweden

"The improvement in the Swedish export sector will contribute to annual growth

in GDP of 2.5 - 3% in 2015 and 2016. The strong housing market in Stockholm

continues, and Malmø and Gothenburg are on its heels. We also believe in greater

growth for private non-residential building in the period and somewhat slower

growth in the construction market. Overall we expect growth of around 5% in

2015 and 4% in 2016 for the Swedish building and construction sector,"

Albriktsen explains.

Still challenging, but growth in Denmark

"We are still noting positive signals in the Copenhagen region that is spreading

to other major cities such as Århus and Aalborg. This means a somewhat stronger

rate of investment in business­and a gradual increase in demand for new homes.

We expect growth of 2% in 2015 and 6% in 2016 for the Danish building and

construction market. With the current low level in mind, this is still

considered a moderate market situation," Albriktsen concludes.

For press photos, see www.flickr.com/photos/veidekke, for more information,

contact:

Rolf Albriktsen, Startegy and Market Director, tel. +47 21 05 75 71 /

+47 90 69 11 10, rolf.albriktsen@veidekke.no

Kristoffer Eide Hoen, Consultant, tel. +47 21 05 77 68 / +47 97 67 54 34,

kristoffer.eide.hoen@veidekke.no

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

helge.dieset@veidekke.no

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

The company undertakes all types of building and construction contracts,

maintains roads and produces asphalt, crushed stone and gravel. The company is

characterised by involvement and local knowledge. Turnover is NOK 24 billion

(2014), and half of the 6,400 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.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1900427]