Nordecon group’s main strategic objectives until and through 2013
- To complete the significant adjustments to the Group’s structure and management that were launched in 2009 in order to secure profitable and rapid growth in the rise phase of the market.
- To continue building construction operations in Ukraine in line with the former strategy.
- To maintain preparedness for re-launching more active operations in our foreign markets (as a general contractor) as soon as the situation in the construction market becomes sufficiently supportive.
- To operate in the Finnish concrete works market (as a contractor) through the subsidiary Nordecon Betoon OÜ in order to support development of the business line.
- To be by the end of 2013 a leading construction group in Estonia that earns half of its revenue from infrastructure and the other half from building construction.
The key theme of the strategy for 2010-2013 is “To respond to market changes swiftly and flexibly and to enter the next economic growth cycle successfully”.
The sales revenue of Nordecon AS amounted to €27.1 million in the 1st quarter of 2013, which is 20% more than in the same period the year before. The Group’s gross profit in the 1st quarter was €593,000, increasing by more than half a million euros compared to the quarter a year ago.
Today, Nordecon AS delivered the completed commercial and residential building at the address Rotermanni 10 in the Tallinn City Centre to Rotermanni City OÜ, a company engaged in developing the Rotermanni Quarter. The construction of the commercial building with guest apartments lasted 12 months.
The management board of Nordecon AS (registry code 10099962, address Pärnu mnt 158/1, 11317 Tallinn) summons an annual general meeting of shareholders, which shall be held on 24 May 2013 at 10.00 a.m. in the conference centre of Radisson Blu Hotel Olümpia, room Beta (Liivalaia 33, 10118 Tallinn).
Nordecon enter into a contract with AS Paide Vesi for reconstruction of the water treatment plant in Paide. The total value of the work with the reserve of the contracting entity is 6.74 million euros exclusive of VAT.