LYSAKER, Norway, Feb. 17, 2021 /PRNewswire/ -- Full-year 2020
revenue was NOK 6,449 million, an
increase of 4% from 2019. Group EBITA was NOK 50 million, compared with NOK 55 million in 2019. EBITA margin was 0.8% in
2020 and in line with the announcement of estimated financial
results from 21 January 2021.
In Norway, the EBITA of
NOK -43 million is mainly explained
by lower revenue in the civil construction due to low order intake
during the year, and low profitability in the demolition- and
recycling business. Finland had a
strong quarter with a revenue of NOK 740
million (NOK 713 million in Q4
2019). EBITA margin was 8.4% in the quarter, an increase from 4.1%
last year, mainly explained by strong project execution in the
light rail projects. In Sweden,
revenues increased from NOK 370
million to NOK 396 million,
with EBITA of NOK -22 million
(NOK -83 million in Q4 2019).
"We implemented several actions in 2020 to restore our
profitability, but even with many great achievements we did not
reach our profitability target. By systematically addressing new
challenges the same structured way as we did in 2020, I'm confident
that we will improve significantly in 2021. The improvement
measures will continue, and the priority is to restore
profitability, said Henning
Olsen, CEO of NRC Group.
NRC Group has identified an addressable tender pipeline of
approximately NOK 21 billion for the
next nine months, an increase of NOK 5
billion compared to the same time in 2020. In Finland, the tender pipeline is doubled to
NOK 5 billion, compared to three
months ago. In Norway and
Sweden, the tender pipeline is
also still strong.
"Our mission is to build infrastructure for tomorrow, and we
will continue to go the extra mile to find sustainable solutions
for our society and people. The addressable tender pipeline
confirms a strong outlook for our investments going forward", said
Olsen.
For further information, please contact:
Henning Olsen, CEO of NRC Group,
+ 47 91 74 15 92.
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Henning Olsen CEO NRC
Group
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