Annual Financial Report
Audited annual report 2019 and profit allocation proposal
The council of Nordecon AS approved on 16 April 2020 the consolidated audited annual report and profit allocation proposal for the year 2019. The council decided to present the annual report and profit allocation proposal as prepared by the management for the approval of the general meeting of shareholders.
Nordecon AS shareholders’ net profit of the 2019 financial year is 3,378 thousand euros. The balance of retained earnings is 9,005 thousand euros. The management proposes to leave the retained earnings of previous periods as at 31 December 2019 in the amount of 12,383 thousand euros undistributed and not to make any appropriations to the capital reserve or other reserves provided for by the law or the articles of association.
The annual report that contains auditor’s report and profit allocation proposal for 2019 is attached to this announcement and made available on NASDAQ Tallinn Stock Exchange’s web page www.nasdaqbaltic.com and Nordecon’s web page www.nordecon.com (summary: www.nordecon.com/year2019). The annual report can also be read at location on Toompuiestee 35, Tallinn.
There were no significant adjustments made in audited annual report compared to the preliminary 12 month interim report published on 06 February 2020.
Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Sweden, Finland and Ukraine. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2019 was 234 million euros. Currently Nordecon Group employs close to 690 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.
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