NCC takes 1.4 billion kronor writedown

Swedish construction giant NCC has written down 1.4 billion kronor, primarily due to revised property valuations in its Property Development business. The company emphasizes that its underlying results and outlook remain positive.

Swedish construction giant NCC is writing down assets totaling 1.4 billion kronor following a reassessment of its property portfolio and tax positions. Around 900 million kronor stems from revised property valuations in the Property Development division, with the rest related to Norwegian tax assets.

The writedown excludes ongoing construction and civil engineering projects as well as the Industry business area.

– We have seen a subdued market for commercial properties for some time. In connection with the year-end closing, we made a new assessment of the total property values in the balance sheet. The writedown also creates better conditions for sales in the near term, says Tomas Carlsson, group CEO of NCC.

Strong underlying performance

Despite the writedown, NCC’s preliminary fourth quarter figures show revenue of 15.9 billion kronor. Operating profit is estimated at 692 million kronor, excluding items affecting comparability.

Carlsson emphasized that the company’s core business remains solid.

– I want to emphasize that the underlying result, cash flow and outlook for NCC as a whole are positive. The Industry business area once again has a record result, and all business areas within construction and civil engineering report stable or improved operating results, he says.

Full results for the fourth quarter and 2025 will be released on February 5.