MNOK
INDUSTRY	Q2 2010	Q2 2009	2009	2008
Operating revenues	849.2	876.2	2 968.0	3 292.6
Earnings before tax (EBT)	47.6	63.6	7.1	68.1
Earnings before tax (EBT) (12 months rolling)	43.7	2.9	7.1	68.1

The Norwegian Industry Division’s operations are nation-wide and its business segments are asphalt, crushed stone and gravel, road maintenance and recycling of industrial waste. In Sweden, Veidekke has operations within the segments of asphalt, crushed stone and gravel, but at present, these activities are limited.

Industry’s turnover in the second quarter was slightly lower than for the same quarter in 2009. Profit before tax was MNOK 47.6 (MNOK 63.6).

The production volume for asphalt operations was somewhat lower the second quarter than in 2009, partly due to a late start to the season and a weaker private market. As a result, asphalt’s quarterly results are less than the second quarter of 2009.

Road maintenance still posted negative results. Efforts to improve operations are ongoing as planned and new contracts are developing as expected.

In the second quarter, activities within crushed stone and gravel were on a par with last year, and the operations achieved a satisfactory result. The company is focused on continuous cost reduction measures and increased productivity, and is very well positioned for further profitability improvement.

Recycling activities were on the same level as with the corresponding quarter in 2009 and with some performance improvement as well. The business has a strong focus on cost-cutting measures including the implementation of efficient transport solutions.

Industry has a very seasonally high level of activity in the 3rd quarter. However, there are still uncertainties related to market development and especially, private customer demand.