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NCC AB (NCCb.ST)

NCCb.ST on Stockholm Stock Exchange

159.00SEK
19 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Bam Groep In Joint Venture With NCC Awarded Major Swedish Tunnel Project‍​
Tuesday, 19 Dec 2017 

Dec 19 (Reuters) - BAM GROEP ::IN JOINT VENTURE WITH NCC AWARDED MAJOR SWEDISH TUNNEL PROJECT‍​.THE CONTRACT VALUE IS APPROXIMATELY €385 MILLION (SEK3.8 BILLION).WAYSS & FREYTAG INGENIEURBAU HAS 40 PER CENT SHARE IN THE JOINT VENTURE‍​.CONSTRUCTION START-UP IS PLANNED FOR SPRING 2018 AND THE PROJECT IS EXPECTED TO RUN UNTIL 2026.CONTRACT TO BUILD 3.2 KM LONG KORSVÄGEN PHASE OF WEST LINK TUNNEL PROJECT IN GOTHENBURG, SWEDEN.  Full Article

NCC warns Q4 operating profit to be close to zero after provisions
Wednesday, 13 Dec 2017 

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 

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 

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 wins order worth 550 mln SEK
Tuesday, 23 May 2017 

May 23 (Reuters) - Ncc Ab :NCC says wins assignment for new train depot in Skåne, Sweden.Says order value of approximately sek 550 million.Construction start is scheduled for autumn 2017 and NCC’s part of the assignment is expected to be registered in the fourth quarter of 2017 .The project is scheduled to be completed in summer 2019.  Full Article

NCC says Q3 op profit estimated at 503 mln SEK, impairment losses in Norway
Friday, 14 Oct 2016 

Ncc Ab : Impairment losses for projects in Norway . NCC says impairment losses totaling SEK 290 million in Q3 . Says NCC's operating profit for Q3 is estimated at SEK 503 million (720) for group . NCC Q3 net sales at SEK 13.6 billion (13.3) and orders received at SEK 12.6 billion (10.1) . NCC says inadequate project management is underlying reason for impairment losses, which largely relate to completed and delivered projects ."However, orders received and the market outlook were some of the bright spots in the quarter. Orders received for NCC increased by 25 percent in the third quarter compared with the year-earlier period," says CEO Peter Wagstrom.  Full Article

NCC sells share of Finnish project company to Citycon for 750 mln SEK
Wednesday, 10 Aug 2016 

NCC AB : NCC sells share of finnish project company to Citycon . Says purchase price for NCC's portion of jointly owned project company is approximately SEK 750 m. .Says sale will have a positive impact on earnings in ncc property development business area in Q3 of 2016.  Full Article

NCC says to buy back own shares
Wednesday, 20 Jul 2016 

NCC : With support of the mandate from the Annual General Meeting in April, the board of directors has decided on buy-back of own shares .Says has decided to buy around 365,000 shares of series B in company.  Full Article

NCC Q2 pretax profit undershoots, orders strong
Wednesday, 20 Jul 2016 

NCC AB, Q2 : Q2 orders received increased to SEK 17,123 m (13,807) . Q2 net sales amounted to SEK 13,646 m (13,218) . Q2 profit after tax amounted to SEK 441 m (427) . Q2 pretax profit amounted to SEK 548 m (529) .Reuters poll: NCC Q2 order intake was seen at 15.1 billion SEK, net sales at 13.7 billion, pretax profit at 614 million.  Full Article

NCC sees one-off effects in Q2 from Bonava spin-out
Friday, 1 Jul 2016 

NCC AB : Says publishing items affecting comparability for q2 of 2016 . Says transaction costs of SEK 62 mln for dividend and listing of Bonava will not be charged to income statement, but charged directly against shareholders' equity . Says has now decided to discontinue development and implementation of a joint HR system, which means that SEK 90 mln, pertaining to previously capitalized amounts, will be charged against NCC's earnings for Q2 of 2016 .Says earnings will be positively impacted by an amount of SEK 118 mln in Q2, due to internal gains derived from ongoing housing production for Bonava being dessolved.  Full Article