The impairment charges of approximately SEK 1.4 billion consist of approximately SEK 900 million attributable to updated assessments of property values within the Property Development business area. The remaining portion mainly relates to a review of tax assets in Norway. The impairment charges do not relate to any part of operation of ongoing contracting projects, nor to Industry business area.

The market for commercial properties has been weak for an extended period. The impairment charges are made to ensure that recognized values reflect NCC´s best current assessment of the underlying value of property assets. The impairment charges relate to a small number of completed property projects in Sweden and Finland.

"We have for some time seen a subdued market for commercial properties. As part of the year-end closing process, we have reassessed the total property values in the balance sheet. The impairment charges also create better conditions for sales in the near term. I want to emphasize that the underlying result, cash flow, and outlook for NCC remain positive. The Industry business area has once again record earnings, and all contracting business areas report stable or improved operating results. NCC is financially strong, and we see good opportunities for value creation in coming years", says Tomas Carlsson, President and CEO of NCC.