Q2 2025 NCC AB Earnings Call Transcript

Jul 15, 2025 / 07:00 AM GMT

Release Date Price: kr180.5

Transcript

Key Points

Positve

NCC AB (FRA:NCGB) reported higher earnings and margins across all business areas, indicating strong financial performance.
The company experienced a significant increase in early involvement projects, which are larger and more complex, showcasing their strategic development.
There was a strong demand for asphalt, driven by increased funding for road maintenance, contributing to improved margins and earnings.
The order backlog is healthy and aligns with strategic priorities, reflecting a good demand in contracting and industry sectors.
NCC AB (FRA:NCGB) maintains a strong financial position with a net debt significantly below their target, providing ample headroom for potential acquisitions.

Negative

The property development segment faced challenges with no new projects started and earnings close to zero due to lower rental income and fewer property sales.
The commercial property market remains slow, impacting the company's ability to dispose of completed projects at fair value.
Despite strong performance, the company is dependent on the property market for reaching its earnings per share target of 16%.
The stone materials business experienced lower volumes, although this was mitigated by a better product mix.
The transaction market for property development is slow, making it difficult to predict when assets can be disposed of at desired values.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NCCb.ST - NCC AB
Q2 2025 NCC AB Earnings Call
Jul 15, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everybody and welcome to this presentation of the 2nd quarter earnings for the NCC Group. I'm Thomas Carlson, CEO, and with me here today, I also have Susan Li Tander, our CFO.

And if we move on to the highlights of the quarter, this is the way I think about it. This is a consistent good performance of the group, higher earnings, and in particular, higher margins for all business areas. If we look at the business areas, we have higher orders received in building Sweden.

Which is good. The industry continued strong performance and demand for asphalt in particular.

Infrastructure, solid development overall building Nordics, a good performance driven by Denmark and then finally property development and given the current

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