| | | | | | MNOK |
| Construction, Denmark | Q3 2009 | Q3 2008 | At 30 Sep. 2009 | At 30 Sep. 2008 | 2008 | 2007 |
| Operating revenues | 436.1 | 500.7 | 1 234.2 | 1 590.4 | 2 073.0 | 2 779.6 |
| Operating expenses | -427.9 | -502.4 | -1 212.2 | -1 608.2 | -2 066.3 | -2 879.9 |
| Depreciation | -2.5 | -3.1 | -7.5 | -7.1 | -9.7 | -9.3 |
| Operating profit (EBIT) | 5.7 | -4.8 | 14.5 | -24.9 | -3.0 | -109.6 |
Share of profit associated
companies and | - | - | - | 0.3 | 0.7 | 0.6 |
| Net financial items | 3.9 | 4.7 | 11.9 | 12.5 | 15.5 | 20.9 |
| Earnings before tax (EBT) | 9.6 | -0.1 | 26.4 | -12.1 | 13.2 | -88.1 |
| Total assets business area | 856.1 | 811.7 | 856.1 | 811.7 | 641.1 | 644.8 |
In the third quarter, Veidekke’s Danish construction operations, Hoffmann, had a turnover of MNOK 436 (MNOK 501 for third quarter 2008), and earnings before tax totalled MNOK 9.6
(MNOK -0.1). This corresponds to a profit margin of 2.2 per cent (0.0 per cent).
The company managed to maintain the same level of earnings and profit as in the second quarter, despite a significant drop in the market. The number of orders received was low in the third quarter. This may be attributed to a weak demand both from private and public customers. Hoffmann has won several municipal projects, but contracts have not yet been signed due to lack of funding.
At the end of the third quarter, the company had orders-on-hand totalling MNOK 843, as against MNOK 1,298 at the turn of the year, and MNOK 1,164 at the same time last year. In light of this, there will be a strong focus on the order backlog in the times ahead.
