Veidekke — Fund Information / Factsheet 2015

Oct 5, 2015

Fact sheet: Leif Grimsrud AS

• Leif Grimsrud AS is a machinery contractor with Eastern Norway and Western Götaland as its geographic market area. The company has experienced, capable employees and a large, modern fleet of machinery.
• Revenues totalled approximately NOK 920 million in 2014. Grimsrud and its subsidiaries have 260 employees, and Asle M. Berg is the general manager.
• Leif Grimsrud AS's subsidiaries Øst AS and Leif Grimsrud Entreprenad AB are included in Veidekke's acquisition of Leif Grimsrud AS. Leif Grimsrud Entreprenad AB in Strømstad is a civil engineering contractor with 30 employees. Øst AS is a building contractor in Halden with 30 employees.
• The company carries out infrastructure, water and sewage, groundwork and outdoor work projects for buildings, industrial areas and housing estates, as well as maritime contracts through its coastal environment department.
• The company has central approval for enterprise classification 3 for its specialized fields.
• Leif Grimsrud AS currently has two shareholder groups: GG gruppen AS owns 95% of the shares, and A-M-B Holding AS owns the remaining 5%.
• The company's business concept is to operate in its markets with both public and private sector customers, and to be strong in both turnkey and general contracts for groundwork and civil engineering work. The company has chosen a strategy to focus on selected groups of customers with a view to promoting openness, honesty and collaboration. The company strongly involves its employees.
• History: The company was established by Leif Grimsrud in 1981. In 1986, Martin Grimsrud took over the company and managed it until Asle M Berg took over as the general manager in 2008. Martin Grimsrud became then the board chairman and remains so at present.
• Key figures (in NOK millions) Pro forma consolidation of the Grimsrud Group:

	At at 30 June 2015	2014	2013	2012	2011	2010
Operating revenues	339	920	627	595	480	459
Profit before tax	31	55	21	38	38	58
EBT %	9.1%	6.0%	3.4%	6.4%	7.9%	12.6%

As at 31 December 2014, the company had total assets of NOK 375 million, equity of NOK 135 million and a low debt-equity ratio.