Veidekke Full Year 2023 Earnings: Beats Expectations

Veidekke (OB:VEI) Full Year 2023 Results

Key Financial Results

• Revenue: kr43.1b (up 12% from FY 2022).
• Net income: kr1.07b (down 2.1% from FY 2022).
• Profit margin: 2.5% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: kr7.92 (down from kr8.09 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Veidekke Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.3%.

Looking ahead, revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Construction industry in Norway.

Performance of the Norwegian Construction industry.

The company's shares are up 2.6% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Veidekke that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.