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Veidekke (VEI) investor relations material
Veidekke Autumn Market Update 2025 Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Autumn Market Update 2025 Presentation summary16 Oct, 2025
Market overview and outlook
Scandinavian contracting market valued at ~NOK 940 billion in 2024, covering apartments, commercial, public buildings, and civil engineering.
Market experienced an 11% decline in 2024 and is expected to fall by 4% in 2025, with moderate growth of 5% in 2026 and 4% in 2027.
Recovery is anticipated from 2026, especially in apartments and small houses, with infrastructure remaining strong.
Market volumes are back to 2014-2015 levels, well below the 2022-2023 peak.
About half of the market decline is expected to be recovered by end of 2026.
Economic environment
Norway's growth is accelerating in 2025, driven by consumption and exports, while Sweden lags but is expected to improve in 2026-2027.
Household purchasing power is improving, with stable unemployment across Norway, Sweden, and Denmark.
Inflation is near 2% targets, and key policy rates are being cut, but market rates remain high.
Population growth is slowing in Norway and Sweden, impacting long-term demand for new schools and housing, but increasing demand for elder care facilities.
Demographic shifts are driving investment needs toward elder care and away from education.
Contracting market trends by segment
Order intake for new apartments and small houses rose 21% in Norway and 26% in Sweden in 1H 2025, indicating a positive trend.
Commercial building order intake was flat in Norway (+4%) and Sweden (+2%) in 1H 2025, with robust activity despite a decline from previous highs.
Public building starts fell in Norway (mainly due to fewer hospital projects) but rose 19% in Sweden, driven by care-related buildings.
Denmark saw a 7% drop in commercial and 10% drop in public building demand in 1H 2025, but growth is expected to resume.
Norway public building decline vs Sweden growth drivers?
Demographic impact on specific building types?
Data centers' market share and future potential?
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Q3 20256 Nov, 2025
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Frequently asked questions
Veidekke ASA is a Norwegian construction and property development company. The Company operates in three segments: residential, industrial and services. It is involved in the business of constructing and selling new housing as well as expanding, modernizing and selling existing homes. Veidekke's industrial segment offers property development services to third parties through its Real Estate Management (REM) arm. Additionally, the Company's service segment consists of property management services to its own owners, as well as various others. Veidekke ASA is based in Oslo, Norway.
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