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Published: 2024-04-19 15:30:00 CEST
Annual Financial Report

Audited annual report 2023 and profit allocation proposal

The council of Nordecon AS approved on 19 April 2024 the consolidated audited annual report and profit allocation proposal for the year 2023. 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.

The net loss attributable to the shareholders of Nordecon AS for the 2023 financial year amounts to 942 thousand euros. The retained profit of previous periods amounts to 2,691 thousand euros. To cover the net loss of the 2023 financial year on the account of the retained profit of the previous periods. To leave the retained profit of previous periods in the remaining part undistributed and not pay dividends to the shareholders. To not make any appropriations to the legal 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 2023 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. The annual report can also be read at location on Toompuiestee 35, 10149 Tallinn.

There were no significant adjustments made in audited annual report compared to the preliminary 12 month interim report published on 8 February 2024. According to international financial reporting standards, the consolidated statement of comprehensive income in the report also separately presents the revenues and expenses from continuing operations, and the presentation of the statement of comprehensive income has been accordingly revised for the comparative period. The activity of companies sold at the end of November 2023 is classified as discontinued operations.

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, Ukraine and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2023 was 278 million euros. Currently Nordecon Group employs close to 560 people. Since 18 May 2006 the company's shares have been quoted in the main list of the Nasdaq Tallinn Stock Exchange.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: andri.hobemagi@nordecon.com