Nordecon Subsidiary Secures €4.7 Million Cold Storage Construction Contract
Nordecon AS (OMXTSE:NCN1T) announced that its subsidiary, Embach Ehitus OÜ, has signed an agreement to construct a new cold storage facility for OÜ Nõo Lihatööstus. The contract is valued at €4.7 million, excluding value-added tax, with project completion slated for September 2027.
The deal adds a defined project to the builder's backlog and provides clearer revenue visibility over the multi-year construction schedule. Winning an industrial client contract highlights ongoing demand in the non-residential sector. Shares of Nordecon AS traded down 1.87% at 0.524 EUR following the announcement.
Investors will be watching for broader backlog growth compared to prior periods, along with future updates regarding contract profit margins and additional commercial project awards.
Key points
- Nordecon subsidiary Embach Ehitus OÜ signed a contract worth €4.7 million excluding VAT.
- The project involves constructing a cold storage facility for client OÜ Nõo Lihatööstus.
- Construction is scheduled for completion in September 2027.
- The deal provides multi-year revenue visibility and expands non-residential contract backlog.
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How we writeDisclaimerQuestions and answers
What contract did Nordecon AS secure?
Nordecon unit Embach Ehitus OÜ signed a €4.7 million contract, excluding VAT, to construct a cold storage facility for OÜ Nõo Lihatööstus.
When is the Nordecon cold storage project scheduled for completion?
The construction project is scheduled to be completed by September 2027.
What is the stock ticker and price for Nordecon AS?
Nordecon AS trades under the ticker OMXTSE:NCN1T and was priced at 0.524 EUR, down 1.87% on the day.