Nordecon AS Highlights 2024 Financial Achievements
Nordecon AS has made a significant announcement regarding its consolidated audited annual report and profit allocation for the year 2024. Approved by the council, this report will be presented at the forthcoming general meeting of shareholders, illustrating the company's solid financial performance.
Overview of Net Profit and Reserves
The financial outcomes for 2024 reveal a remarkable net profit attributable to the shareholders of Nordecon AS, amounting to 3,827 thousand euros. Additionally, the retained profit from previous periods stands at 919 thousand euros. The decision taken by the council emphasizes retaining the profit without distributing dividends, ensuring that shareholders see the benefit of accumulated value in the company.
Profit Allocation Proposals
In line with these results, the council has also proposed that there will be no appropriations made to the legal reserve or any other reserves that are typically provided for either by legal standards or the company's articles of association. This strategic move allows Nordecon to focus on reinvestment and growth in upcoming projects and ventures.
Internal Audit Review and Reports
The complete annual report, which includes the auditor's evaluation alongside the profit allocation proposal for 2024, has been made available via Nasdaq Tallinn Stock Exchange's official website. Stakeholders can access important documents that illustrate Nordecon's financial journey. The group's management believes transparency through these reports is vital in maintaining shareholder trust and confidence.
Accessibility of the Annual Report
Shareholders and interested parties can view the detailed annual report on both the Nasdaq Tallinn website and Nordecon's official site, ensuring that all stakeholders have access to relevant financial data and insights. The annual report is also available for on-site viewing at Nordecon's headquarters.
Comparative Analysis with Preliminary Reports
Upon review, it is noteworthy that there were no significant adjustments made in the audited annual report compared to the preliminary 12-month interim report that was disclosed earlier. This consistency reflects well on Nordecon's reliable financial practices and commitment to clear reporting.
Company Growth and Operations
Nordecon, known for its extensive work in construction project management and general contracting, has showcased impressive operational revenues. In 2024, the consolidated revenue reached approximately 224 million euros, reflecting the group's ongoing growth and resilience within the industry. Nordecon currently employs close to 435 individuals, marking a stable workforce that contributes to its success.
Market Position and Future Prospects
Nordecon AS is not just a player in the local market; the group operates across various regions, including Estonia, Ukraine, and Sweden. This geographical diversification opens doors to new projects and collaborations, strengthening its market presence. As a publicly traded company on the Nasdaq Tallinn Stock Exchange since May 2006, Nordecon's consistent growth speaks volumes about its operational strategies and market adaptability.
Contact Information
For more insights about Nordecon AS and its operations, stakeholders can reach out to Andri Hõbemägi, the Head of Investor Relations. Interested parties can contact him via telephone at +372 6272 022 or through email at andri.hobemagi@nordecon.com. Ensuring communication remains open is part of Nordecon's ethos in maintaining good relations with its investors and stakeholders.
Frequently Asked Questions
What was the net profit for Nordecon AS in 2024?
Nordecon AS reported a net profit of 3,827 thousand euros for the financial year 2024.
What are the plans for the retained profits?
The company plans to keep the retained profits undistributed without paying dividends to shareholders, focusing instead on reinvestment.
Where can I find the annual report for 2024?
The annual report can be accessed on the Nasdaq Tallinn Stock Exchange website and Nordecon's official site.
Have there been changes in the audited report compared to the interim report?
No significant adjustments were made in the audited annual report compared to the preliminary 12-month interim report.
What is Nordecon’s core area of operation?
Nordecon focuses on construction project management and general contracting, operating in the buildings and infrastructure segment.
