NCC receives payment from collectively bargained AGS group sickness insurance policy
Afa Försäkring has decided to make lump-sum payments of surpluses within the collectively bargained AGS group sickness insurance policy. For NCC this is expected to have a positive impact on EBIT in the fourth quarter of 2021 of approx. SEK 160 M, of which approx. SEK 28 M is reported in the Industry business area and approx. SEK 9 M in other subsidiaries. The remaining approx. SEK 123 M is reported in the Group under Other and eliminations.
In June 2021, Afa Sjukförsäkringsaktiebolag’s board of directors resolved on a payment to certain employers within the collectively bargained AGS group sickness insurance policy. Underpinning the decision is a favorable trend on the stock market and previous changes to the group sickness insurance system in 2008, which has resulted in a strong financial position for Afa Försäkring.
Payment will be made to the employers that had previously received repayment of AGS premiums for the years 2004–2008 and which had a valid insurance contract in December 2020, when the Confederation of Swedish Enterprise and the Swedish Trade Union Confederation reached an agreement concerning the payment. This included NCC, which has now been informed of the size of the payment.
The payment expects to take place in October 2021.
For further information, please contact:
Tove Stål, Head of Group External Relations NCC, +46 76 521 61 02
This is the type of information that NCC AB is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was issued for publication through the agency of the contact persons set out above on October 4, 2021, at 14.40 p.m. CEST.
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to a positive impact of construction for its customers and society. Operations include commercial property development, building and infrastructure project contracting, and asphalt and stone materials production. In 2020, NCC had sales of about SEK 54 bn and 14,500 employees. The NCC’s shares are listed on Nasdaq Stockholm.