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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Veidekke ASA    VEI   NO0005806802

VEIDEKKE ASA

(VEI)
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Veidekke ASA: Jimmy Bengtsson appointed CEO

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05/23/2019 | 01:31am EDT

Jimmy Bengtsson has been appointed new Group CEO of Veidekke ASA. Bengtsson will succeed Arne Giske, who has decided to step down after six years. Bengtsson takes over as Group CEO 1 September 2019.

"We are very pleased that Jimmy has accepted the position as Group CEO of Veidekke. Jimmy possesses a rare combination of qualities that makes him well suited for the role of CEO. In the search for Veidekke's fifth CEO, a thorough process was conducted, with both internal and external candidates, but in the end, it was clear that Jimmy is best qualified candidate," says Svein Richard Brandtzæg, chair of Veidekke's board of directors.

Jimmy Bengtsson currently serves as Executive Vice President with responsibility for Veidekke's Swedish construction operations, as well as country manager for Sweden, a position he has held since 2016. Bengtsson has worked in the construction industry during his entire career. From 2007 he headed Arcona, which was acquired by Veidekke in 2013. Bengtsson also has a long prior career in Skanska in Sweden.

"Jimmy Bengtsson has more than 30 years of experience from the construction industry. By continuously improving results in the units he has led, he has proved that he has what it takes to strengthen Veidekke's position as one of Scandinavia's largest and leading construction and property development companies," says Brandtzæg.

"I look forward to taking on the job of further developing Veidekke together with our competent and committed colleagues in Norway, Sweden and Denmark. Veidekke is a rock solid company, securely rooted in a culture built on involvement and making use of the entire Group's collective expertise. Veidekke has what it takes to exploit a challenging situation and return as a stronger and more competitive company," says Jimmy Bengtsson.

After six years as CEO, Arne Giske has requested the board of directors' permission to step down. Giske took over as Group CEO of Veidekke in June 2013, after a long career in the company, where, before becoming CEO, he held positions as both CFO and head of Veidekke's real estate operations.

"I want to express my appreciation to Arne Giske for his great efforts on Veidekke's behalf over the past six years. Under his leadership, Veidekke expanded into a company with a clear Scandinavian footprint," says Brandtzæg.

Over the past six years, Veidekke delivered strong results in several areas:

· Turnover increased from NOK 20 billion to NOK 36 billion.
· The number of employees increased from 6,250 to more than 8,500.
· Annual shareholder return was 17.0%.
· Veidekke's market capitalisation increased from NOK 5.8 billion to NOK 11.4 billion.
· The number of serious accidents was reduced by half.

"After an overall assessment, I have concluded that it is time to hand over the baton. Change is essential to any organisation. Jimmy is a highly competent and skilled leader, and I have every confidence that the board has selected the best person to lead Veidekke going forward', says Arne Giske.

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

Arne Giske, Group CEO, arne.giske@veidekke.no, +47 905 89 526

Jimmy Bengtsson, EVP, jimmy.bengtsson@veidekke.se, +46 70 537 91 10 

Lars Erik Lund, EVP Communications and Public Affairs, lars.lund@veidekke.no, +47 413 31 369

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Subscribe to notices from Veidekke (http://veidekke.com/no/borsmeldinger/abonner-pa-meldinger/) 

Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is NOK 36 billion, and half of its 8,600 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. 

https://news.cision.com/veidekke-asa/r/veidekke-asa--jimmy-bengtsson-appointed-ceo,c2823034

https://news.cision.com/veidekke-asa/i/jimmy-bengtsson,c2630230

(c) 2019 Cision. All rights reserved., source Press Releases - English

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Financials (NOK)
Sales 2019 37 777 M
EBIT 2019 1 146 M
Net income 2019 1 027 M
Debt 2019 1 377 M
Yield 2019 6,20%
P/E ratio 2019 11,11
P/E ratio 2020 9,52
EV / Sales 2019 0,33x
EV / Sales 2020 0,31x
Capitalization 11 098 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 95,4  NOK
Spread / Average Target 15%
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Managers
NameTitle
Arne Giske Chief Executive Officer
Martin Mæland Chairman
Terje Kaasa Larsen Chief Financial Officer & Executive Vice President
Gro Bakstad Director
Hans-Jürgen Kai von Uthmann Director
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