NCC in first quarter loss

NCC has reported revenues of SEK9.197 billion (€992.40 million) for the first quarter of 2016 – an 11% decrease from the same period a year ago.

The company said the reason for the fall was due to more projects being at earlier stages of construction, while less orders were received in its civil engineering sector in 2015.

NCC recorded an operating profit loss for the quarter 2016 of –SEK309 million, which was SEK66 million more than a year ago, when the company also recorded a loss.

Peter Wagstrom, CEO of NCC, said, “The start of 2016 has been intensive. We have tendered many offers in public procurements and cultivated the market with our customer offerings.

“The results of our efforts will be seen later in the year.”

He added that the company had adapted its organisation and work methods to its new strategy for profitable growth.

He also noted that the company was in the process of spinning off its housing development operation.

Looking ahead, the company believes the conditions in the Nordic construction market are healthy and growth in the market is expected to exceed GDP in 2016.