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NCC AB (NCCb.ST)

NCCb.ST on Stockholm Stock Exchange

156.60SEK
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

NCC warns Q4 operating profit to be close to zero after provisions
Wednesday, 13 Dec 2017 01:00am EST 

Dec 13 (Reuters) - NCC AB ::NCC INCREASES PROVISIONS IN CONSTRUCTION AND CIVIL ENGINEERING PROJECTS AND REDUCES OVERHEAD COSTS.SAYS ‍NCC'S EARNINGS FOR Q4 WILL BE CHARGED WITH SEK 315 MILLION FOR INCREASED PROVISIONS IN CONSTRUCTION AND CIVIL ENGINEERING PROJECTS​.SAYS ‍ADJUSTMENT ENTAILS THAT PROJECT PORTFOLIOS IN CONSTRUCTION AND CIVIL ENGINEERING OPERATIONS WILL HAVE A LOWER AND MORE BALANCED RISK​.SAYS ‍EARNINGS WILL ALSO BE CHARGED WITH SEK 75 MILLION REGARDING RESTRUCTURING COSTS​.SAYS ‍OPERATING PROFIT FOR Q4 IS EXPECTED TO BE CLOSE TO ZERO​.SAYS ‍OVERHEAD COSTS ARE TOO HIGH AT CURRENT RATE OF GROWTH AND THESE COSTS WILL THUS BE REDUCED, RESULTING IN ANNUAL SAVINGS OF APPROXIMATELY SEK 200 MILLION​.SAYS ‍PURPOSE OF COST REDUCTION IS TO ENSURE AN OVERHEAD COST LEVEL OF A MAXIMUM OF 5 PERCENT OF SALES​.  Full Article

NCC ousts CEO Wagstrom, cites weak performance in construction and civil engineering
Monday, 30 Oct 2017 03:00am EDT 

Oct 30 (Reuters) - NCC AB :Says ‍board of directors of NCC has decided to replace group's CEO Peter Wagstrom in order to increase focus on construction and civil engineering operations​.Says ‍recruitment of a new CEO will commence immediately​.Says ‍Hakan Broman, who has served as general counsel at NCC for many years, will assume position of acting CEO as of October 30."The Board believes that NCC needs a new driving force to reverse the trend in the construction and civil engineering operations,” says Tomas Billing, Chairman of the Board of NCC.Says NCC’s construction and civil engineering operations have not performed in line with the expectations of the Board in recent years.Says Tomas Billing, the company’s Chairman of the Board for the past 16 years, will take up a half-time position at NCC to support the Executive Management Team."I am disappointed by the Board’s decision but of course I respect it. And I am naturally disappointed with NCC’s earnings performance in parts of the construction and civil engineering operations in recent years,” says Peter Wagstrom​.  Full Article

NCC Q3 pretax profit slightly below expectations, orders beat fcast​
Thursday, 26 Oct 2017 02:00am EDT 

Oct 26 (Reuters) - NCC Ab ::Q3 ‍orders received amounted to SEK 12,782 mln (12,578)​.Q3 ‍net sales amounted to SEK 13,102 mln (13,572)​.Q3 ‍profit after financial items was SEK 365 mln (471)​.Reuters poll: NCC Q3 orders seen at 12.4 billion sek, pretax at 373 million sek.Says the outlook for NCC's markets is largely favorable‍​.Says NCC's earnings for the third quarter were disappointing mainly because of the impairment of an infrastructure project in Norway and lower sales in the construction operations.  Full Article

NCC expects Q3 operating profit at around 400 million SEK
Monday, 25 Sep 2017 02:00am EDT 

Sept 25 (Reuters) - NCC :Impairment of Norwegian infrastructure project and lower sales in NCC Building's Danish and Finnish operations in third quarter of 2017.Says NCC's operating profit is expected to amount to approximately SEK 400 million ($50.1 mln)(503) for Q3.Market expectations were for Q3 operating profit of 759 million SEK, according to Thomson Reuters SmartEstimate.Says impairment relates to Bjornegard tunnel and will impact profit by SEK 150 million in Q3.Says orders received for NCC Infrastructure business area in January-August period amounted to SEK 13.9 billion (12.1).Says orders received for NCC Building business area in January-August period amounted to SEK 15.7 billion (17.7).  Full Article

Peab sells Norway foundation work business to NCC
Tuesday, 29 Aug 2017 02:30am EDT 

Aug 29 (Reuters) - Peab AB :Says to divest its foundation work operations in Norway, run in Nordiska Fundamentering AS, to NCC <<>>.Says business had net sales of NOK 252 million and 102 employees in 2016.Says transaction requires approval by Norwegian Competition Authority and divestiture is expected to take place in Q4 2017.  Full Article

OHL in JV with NCC wins contract in Sweden for 215 mln euro
Monday, 21 Aug 2017 06:01am EDT 

Aug 21 (Reuters) - OBRASCON HUARTE LAIN SA ::WINS FIRST CONTRACT IN SWEDEN FOR 215 MILLION EURO IN 50 PERCENT JOINT VENTURE WITH LOCAL COMPANY NCC‍​.TO UPGRADE THE LINE BETWEEN LUND AND ARLOV (MALMO).  Full Article

Builder NCC Q2 pretax profit just below expectations
Wednesday, 19 Jul 2017 02:00am EDT 

July 19 (Reuters) - NCC :Says orders received amounted to SEK 16,431 mln (17,123) in Q2 and to SEK 27,913 mln (27,661) in first half of year.Says net sales amounted to SEK 13,382 mln (13,646) in Q2 and to SEK 25,188 mln (22,843) in first half of year.Says profit after financial items totaled SEK 522 mln (548) for Q2 and SEK 805 m (240) for first half of year.Reuters poll: NCC Q2 orders seen at 16.1 billion SEK, pretax at 572 million SEK.  Full Article

Magnolia Bostad sells another 325 apartments in central Uppsala
Wednesday, 28 Jun 2017 01:00am EDT 

June 28 (Reuters) - MAGNOLIA BOSTAD AB :MAGNOLIA BOSTAD SELLS ANOTHER 325 APARTMENTS IN CENTRAL UPPSALA, THE FIRST PROJECT IN THE FRAMEWORK AGREEMENT WITH SLÄTTÖ.‍BUYER IS SLÄTTÖ AND SALE IS MADE THROUGH COMPANY TRANSFERS.​.TOTAL REAL ESTATE VALUE ON COMPLETION IS ESTIMATED AT APPROXIMATELY SEK 675 MILLION.NCC IS SIGNED AS CONTRACTOR AND CONSTRUCTION START IS PLANNED FOR Q3 OF 2018.  Full Article

NCC and Platzer agree on major transaction in Garda and Molndal
Tuesday, 20 Jun 2017 07:00am EDT 

June 20 (Reuters) - NCC :NCC and Platzer <<>> agree on major transaction in Garda and Molndal.Says in Garda NCC will acquire 50 pct of the property-owning company from Platzer when the detailed development plan gains legal force at underlying property value of approx SEK 300 mln as well as a supplementary purchase consideration of about SEK 45 mln upon completion.Says Platzer will repurchase NCC’s 50-percent share when the property is completed.Says transaction also entails that Platzer is planning to acquire future NCC’s projects in central Molndal.  Full Article

NCC and Spain's OHL awarded 2 bln SEK railway assignment
Thursday, 8 Jun 2017 08:00am EDT 

June 8 (Reuters) - NCC AB :NCC in consortium with Spain's OHL awarded railway assignment valued at SEK 2 billion.Says contract includes an option valued at an additional SEK 1 billion..Says contract is expected to be signed at the end of June.Says construction is planned to start in July 2017 and is expected to be completed in December 2023.Says will register an order value of around SEK 1 billion in the second quarter of 2017 in the Infrastructure business area, with the prerequisite that the decision is not appealed before the agreement freeze expires on June 19.  Full Article