A message from the CEO
NCC holds a strong position in the Nordic construction market
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56,819
Orders received (SEK M)
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56,932
Net sales (SEK M)
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1,802
Operating profit (SEK M)
Financial targets and outcome
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Earnings per share, SEK
Outcome 2023
16.11
Target 2023
≥16
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Corporate net debt /EBITDA, times
Corporate net debt/EBITDA, times
Corporate net debt excludes pension debt and lease liability.Outcome 2023
0.98
Target
<2.5
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Dividend policy, %
Percent of earnings to be distributed to shareholders according to dividend proposal. The Board of Directors has proposed a dividend of SEK 8 per share for 2023.Outcome 2023
50
Policy
≈60
Sustainability targets and outcome
Health and Safety
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LTIF4
Work-related accidents resulting in more than four calendar days of absence per million working hours.Outcome 2023
4.0
Target 2026
≤2.0
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Climate and energy
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Scope 1 & 2
Target: 60-percent reduction in CO2e1) (Scope 1 & 2) by 2030 (base year 2015), measured as tons of CO2e/SEK M.
Outcome 2023: Emission intensity amounted to 2.3 tons CO2e/SEK M, corresponding to a reduction of 56 percent compared with 2015.
1) Carbon dioxide equivalents, i.e. GHG emissions expressed as the equivalent amount of carbon dioxide.Outcome 2023
-56
Target 2030
-60
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Scope 3
Relates to sub-set of ready-mix concrete, steel reinforcement and internally purchased asphalt.
Emissions from transportation are reported for the first time in 2023 and thus no comparative figures are available.
Target 2030
-50
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Concrete Outcome 2023
-22
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Asphalt Outcome 2023
-25
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Steel reinforcement Outcome 2023
-45
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Transportation Outcome 2023
–
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Strategic direction
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Industry-leading competency
NCC has the ambition to be a leader in terms of expertise in the construction process. This requires that NCC is able to attract, retain and develop employees and that we continuously hone our competencies in important knowledge fields.
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Live by our Star behaviors
Achieving NCC’s strategic objectives requires a culture of consistent and clear-cut behaviors that create the right conditions in the company and facilitate attainment of our business aims.
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Data-informed decision making
A group of NCC’s size creates enormous amounts of data. For efficient knowledge sharing, it is essential that the information is structured, easily available and simple to share. This enables NCC to better leverage the Group’s collective knowledge and expertise, and enables the employees to make data-informed decisions, thus creating customer value, improving productivity and increasing competitiveness.
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A future-proof IT backbone
A modern and future-proof IT environment to enable efficient work and greater digitization.
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Early involvement
A shared feature in the Group is the drive to be proactive in relation to customers, and early involvement to be able to utilize and develop our expertise and experience.
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Strategic initiatives that bring us closer to customers
We will leverage our collective expertise in order to develop the construction process. In addition, each business area has its own point of departure and faces different challenges. Strategic initiatives – working closer to customers and gathering experts and their know-how – will therefore be based in our business areas.
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Expertise in distinct segments
An important feature of the strategic focus is to use our expertise in the construction process in a well-defined manner. Accordingly, sector-specific segment strategies play a key role in all business areas. A key strategic choice is that NCC will accumulate specific expertise in segments where it is possible to build a strong position.
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The strength of being a large, knowledge-based company
Enables expertise and resources to be leveraged across the company, not least in terms of specific know-how and development projects.
Focus Areas
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Industry-leading competency
NCC has the ambition to be a leader in terms of expertise in the construction process. This requires that NCC is able to attract, retain and develop employees and that we continuously hone our competencies in important knowledge fields.
-
Live by our Star behaviors
Achieving NCC’s strategic objectives requires a culture of consistent and clear-cut behaviors that create the right conditions in the company and facilitate attainment of our business aims.
-
Data-informed decision making
A group of NCC’s size creates enormous amounts of data. For efficient knowledge sharing, it is essential that the information is structured, easily available and simple to share. This enables NCC to better leverage the Group’s collective knowledge and expertise, and enables the employees to make data-informed decisions, thus creating customer value, improving productivity and increasing competitiveness.
-
A future-proof IT backbone
A modern and future-proof IT environment to enable efficient work and greater digitization.
-
Early involvement
A shared feature in the Group is the drive to be proactive in relation to customers, and early involvement to be able to utilize and develop our expertise and experience.
-
Strategic initiatives that bring us closer to customers
We will leverage our collective expertise in order to develop the construction process. In addition, each business area has its own point of departure and faces different challenges. Strategic initiatives – working closer to customers and gathering experts and their know-how – will therefore be based in our business areas.
-
Expertise in distinct segments
An important feature of the strategic focus is to use our expertise in the construction process in a well-defined manner. Accordingly, sector-specific segment strategies play a key role in all business areas. A key strategic choice is that NCC will accumulate specific expertise in segments where it is possible to build a strong position.
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The strength of being a large, knowledge-based company
Enables expertise and resources to be leveraged across the company, not least in terms of specific know-how and development projects.
Sustainability at NCC
NCC engages in construction and civil engineering project contracting, production of asphalt and stone materials and commercial property development and works continuously and in close dialogue with customers and other stakeholders to contribute to the transition to a more sustainable society. Based on data and expertise NCC can contribute with knowledge, enabling well founded decisions.
NCC has a sustainability framework as the basis for the Group’s work. There are common Group targets in two areas: Climate and energy and Health and safety. We also follow up work in other areas at Group level. Each business area then has relevant targets and governing parameters for its own operations.
4.0
NCC’s target is to have an accident frequency rate for LTIF4 (work-related accidents resulting in more than four days of absence per million hours worked) of 2.0 in 2026 with interim targets along the way.)
56%
Target: 60-percent reduction in CO2e by 2030. Reduction of CO2e/SEK M since 2015. Scope 1 & 2.
Building for the future
NCC is one of the leading construction companies in the Nordics, with operations in Sweden, Denmark, Norway and Finland. In 2023, the operations were divided into five business areas. Since January 1, 2024, NCC has an additional business area, NCC Green Industry transformation. The business area focuses on major and complex industrial projects that are driven by the green transition.
NCC has six business areas:
- NCC Infrastructure
- NCC Building Sweden
- NCC Building Nordics
- NCC Industry
- NCC Property Development
- NCC Green Industry Transformation (from January 1, 2024)
NCC Infrastructure
Builds, renovates and maintains infrastructure for travel, transportation, energy and water treatment, as well as facilities for basic industry, in Sweden, Norway and Denmark. With expertise encompassing the entire chain from counseling in early stages, project planning and design to production and maintenance, we realize, together with our customers, projects with a favorable impact on society.
17,667
Net sales (SEK M)
- Net sales share of NCC total
- Average number of employees share of NCC total
NCC Building Sweden
Builds and renovates residential buildings, offices, healthcare buildings, schools, sports facilities and public buildings for public and private customers in Sweden. With advanced skills in sustainability, digitalization and partnering, NCC Building Sweden develops projects jointly with customers from the early stages.
14,475
Net sales (SEK M)
- Net sales share of NCC total
- Average number of employees share of NCC total
NCC Building Nordics
Builds and renovates residential buildings, offices, healthcare buildings, schools, sports facilities and public buildings for public and private customers in Denmark, Finland and Norway. With advanced skills in sustainability, digitalization and partnering, NCC Building Nordics develops projects jointly with customers from the early stages.
14,615
Net sales (SEK M)
- Net sales share of NCC total
- Average number of employees share of NCC total
NCC Industry
Develops, produces and sells stone materials and asphalt products for construction and infrastructure projects in Sweden, Norway, Denmark and stone materials in Finland. The operations form a natural supply chain that is also well integrated into NCC’s construction and civil engineering operations.
11,485
Net sales (SEK M)
- Net sales share of NCC total
- Average number of employees share of NCC total
NCC Property Development
Develops, lets and sells properties, with the focus on office properties. With extensive expertise encompassing the entire chain from conceptualization of individual projects to the development of city districts, and with a major focus on sustainability and cooperation, flexible and customized property solutions are created in growth markets in the Nordic region.
1,376
Net sales (SEK M)
- Net sales share of NCC total
- Average number of employees share of NCC total
Expert competence throughout the entire construction process
During 2023, NCC's 12,200 employees have developed and driven the process forward in construction projects across the Nordic region, together with our customers. Expertise and experience enable our project teams to anticipate and manage the challenges and opportunities that arise during a construction process and propose proactive solutions to the customer.
Attracting and developing the best employees in the industry is critical to NCC's competitiveness. NCC has a good reputation with our candidates, who give high marks in the follow-up of the recruitment process. Common values and behaviors are cornerstones of NCC's culture and the employee survey shows a high level of commitment and willingness to recommend NCC as an employer.
12,200
Average number of employees 2023
8/10
High employee engagement (from NCC's employee survey)
8.8/10
Good career opportunities (from NCC's candidate survey)
Employee stories
The commitment and expertise of our employees is key to NCC's success. For NCC, it is decisive to offer development opportunities throughout the career.
An insight into our business
NCC creates the environments of the future for housing, work and infrastructure. We develop our employees, carry out complex projects and deliver smart sustainable solutions that respond to both large and small challenges.
Read our annual report
Here you can download the full Annual report, or parts of it and combine them as you wish.
NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include building and infrastructure project contracting, asphalt and stone materials production and commercial property development. In 2023, NCC had sales of about SEK 57 bn and 12,200 employees.
