NCC cuts dividend by half



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NCC's operating profit was SEK 256 million in the fourth quarter, while net sales totaled SEK 17,832 million.

This can be compared to the Bloomberg analysts poll, which pointed out SEK 469 and SEK 17,834 million, respectively.

The order intake for the quarter was SEK 17,750 million and the order book totaled SEK 56.8 billion at the end of the year (against SEK 56.6 billion at the end of September).

Half of the dividend

At Tuesday's meeting, the board of NCC decided to propose a dividend of SEK 4.00 (8:00) per share for fiscal year 2018. Bloomberg's average expectation was SEK 8.63.

CEO Tomas Carlsson told the October news agency Direkt that there was an opportunity to divide dividends at the same level as last year.

"As regards the dividend, the Board chooses to act on a more prudent principle and to create greater financial flexibility for the NCC," says Tomas Billing, Chairman of the NCC Board.

Under MAR regulations, NCC makes the assessment that dividend information may deviate from expectations and therefore elects to publish such information and, in advance, publish the company's fourth quarter report and the entire quarterly report. year of 2018, the company points out.

NCC's operating profit was SEK 256 million in the fourth quarter, while net sales totaled SEK 17,832 million.

This can be compared to the Bloomberg analysts poll, which pointed out SEK 469 and SEK 17,834 million, respectively.

Of the additional restructuring costs of 200 notices in the third quarter, SEK 152 million is charged to income in the fourth quarter.

The order intake for the quarter was SEK 17,750 million and the order book totaled SEK 56.8 billion at the end of the year (against SEK 56.6 billion at the end of September).

Good conditions, except in Sweden and Denmark

Market conditions are generally good in the NCC markets, except in Sweden and Denmark.

NCC CEO Tomas Carlsson writes in the fourth quarter report released late Tuesday.

He writes that the results for construction and civil engineering operations are affected by the revaluations in the portfolio of projects that were carried out in the third quarter and in combination with a cautious increase in profit means that the profitability for the whole year is low.

NCC Industry and NCC Property Development improved their quarterly results compared to the previous year. Development properties and land sales most recognized for performance contributed to higher results from the property development business.

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