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    VEI   NO0005806802

VEIDEKKE ASA

(VEI)
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Real-time Oslo Bors  -  10:25 2022-06-24 am EDT
90.50 NOK   +1.80%
09:36aVeidekke To Build Tunnel In Oslo, Norway, Under $116 Million Contract Win
MT
04:09aVEIDEKKE : Signed contract with Fornebubanen valued at more than NOK 1 billion
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06/23VEIDEKKE : Refurbishing student housing in Oslo
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Veidekke: To build new drainage tunnel for Stockholm Vatten och Avfall AB

05/09/2022 | 04:02am EDT
Veidekke has signed a contract with Stockholm Vatten och Avfall AB for the
construction of the new Östberga tunnel, which is part of Stockholm's future
wastewater treatment system. The execution contract has a value of approx. SEK
600 million. The new tunnel is expected to be commissioned in 2026.

The new Östberga tunnel is an environmental improvement project intended to make
Stockholm's wastewater structure more robust and able to handle larger volumes
of wastewater and precipitation.

The project comprises two main parts. First, Veidekke will construct a 2.2
kilometres mountain tunnel for surface water, with two associated service
tunnels, each of approx. 250 metres length. The mountain tunnel will be
outfitted with a cast concrete floor, most of the pipe installations, and steel
hatches to regulate water flow. Secondly, an existing control chamber will be
renovated and upgraded, and approx. 300 metres of new sea pipeline will be
lowered and mounted on seabed piles.

"We appreciate having Stockholm Vatten och Avfall's continued confidence to
build the city's future wastewater treatment system. With its requirements to
collaboration and involvement, the project is a great match for us, says Marcus
Andersson in Veidekke Anläggning Öst.

Read more about Stockholm's future wastewater treatment
system (https://www.stockholmvattenochavfall.se/en/sfa-start/).

The contract is included in the order book for the current quarter.

For more information, contact:
Marcus C Nilsson, konserndirektør, tel. +46 76 840 05 56

Veidekke press photos  (https://veidekke.fotoware.cloud/fotoweb/archives/5028
-Pressebilder-Veidekke/)
Subscribe to notices from Veidekke (http://veidekke.com/no/borsmeldinger/abonner
-pa-meldinger/)

Veidekke is one of Scandinavia's largest contractors. In addition to undertaking
all types of building and civil engineering assignments, the group also
maintains roads and produces asphalt and aggregates. Veidekke emphasises
stakeholder involvement and local experience. Its annual turnover is
approximately NOK 38 billion, and half of its 7,800 employees own shares in the
company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit
every year since its inception in 1936.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2022 38 498 M 3 901 M 3 901 M
Net income 2022 1 028 M 104 M 104 M
Net cash 2022 2 714 M 275 M 275 M
P/E ratio 2022 11,8x
Yield 2022 8,12%
Capitalization 12 123 M 1 228 M 1 228 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,23x
Nbr of Employees 7 748
Free-Float 66,3%
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Number of Analysts 2
Last Close Price 90,50 NOK
Average target price 132,50 NOK
Spread / Average Target 46,4%
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Managers and Directors
Jimmy Fredrik Bengtsson Group Chief Executive Officer
J°rgen Wiese Porsmyr Chief Financial Officer
Svein Richard BrandtzŠg Chairman
Terje Kaasa Larsen Executive Vice President-Information Technology
Izabella Kibsgaard-Petersen Senior Vice President & Compliance Director