Dictionary

Action reflection learning means learning through experience and reflection. The method involves acquiring skills and competence through practising and carrying out tasks, working with real issues. Emphasis is placed on learning, as well as identifying and implementing solutions. This is a tried and tested way of obtaining increased learning effect, which enables people to handle difficult problems more efficiently.

Active sick leave is a Norwegian health insurance option that enables sick employees to return to modified duties at the workplace. The doctor granting the sick leave must consider partial sick leave as an option before approving active sick leave.

Veidekke’s basic values are: being professional, honest, enthusiastic and ground-breaking.

Adhesive used in asphalt laying

Final result, e.g. profit earned during the year (quarter) after deduction of all costs, taxes and financial items.

Non-governmental organisation which keeps track of how companies are handling the climate challenge

Liquid assets plus unused borrowing facilities divided by short-term interest-bearing liabilities.

Management characterised by guidance and involvement

Making changes in the company with an aim to strengthen operations, among other things, by implementing organisational changes, reducing the number of employees, strengthening market areas etc

A building project contracted out as an assignment to a contractor

Designation indicating how the system of contracts for a building project is built up

Control criteria

The cost-benefit ratio is the ratio between what a product/service costs, and the benefit the customer has/will have from the product/service

An organisation in which power, responsibility and influence are distributed across the organisation with a large degree of local responsibility and authority

Project which is handed over from the contractor without any non-conformities

A generic term for signed agreements on future purchases/sales of shares, raw materials and currency. Derivatives are used to manage risk.

Primary insider trade with financial instruments in Veidekke must be pre-approved in writing by the President and CEO. The President and CEO shall clear such trades with the chairman of the Board of Directors

Ordinary profit for the year after minority interests divided by the average number of shares outstanding (fully diluted)

Electrical and electronic products for disposal

In Swedish: Medarbeterinvolvering (MI). Name of improvement process in Veidekke’s Swedish operations