Nordecon
Annual Financial Report

Audited annual report 2013 and profit allocation proposal

Tallinn, Estonia, 2014-04-24 15:45 CEST -- The council of Nordecon AS approved on 24 April 2014 the consolidated audited annual report and profit allocation proposal for the year 2013. 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 2013 financial year is EUR 4,642 thousand euros. The balance of retained earnings is 6,039 thousand euros. The management proposes to distribute to dividends EUR 0.03 per share (EUR 923 thousand) and not to make any transfers to the capital reserve.

The annual report that contains auditor’s report and profit allocation proposal for 2013 is attached to this announcement and made available on NASDAQ OMX Tallinn Stock Exchange’s web page www.nasdaqomxbaltic.com and Nordecon’s web page www.nordecon.com. The annual report can also be read at location on Pärnu mnt 158/1, Tallinn.

Compared to the preliminary 12 month interim report published on 13 February 2014 the audited net profit is decreased by EUR 561 thousand. A substantial part of this adjustment is attributed to a specific court ruling (company announcement at 27 February 2014) made after publishing of the interim report with its effect accounted for in 2013 financial statements.

Nordecon 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, Ukraine and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2013 was 174 million euros and net profit 4.6 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.

         Raimo Talviste
         Nordecon AS
         Head of Finance and Investor Relations
         Tel: +372 615 4445
         Email: raimo.talviste@nordecon.com
         www.nordecon.com