NCC divests business area Industry for SEK 8.2 billion and strengthens focus on contracting
NCC has agreed to divest its Industry business area at an enterprise value of SEK 8.2 billion. The divestment will create a more focused NCC, specializing in contracting, while improving opportunities for long-term value creation. From NCC's perspective, it is a single transaction with two buyers: Heidelberg Materials and CRH. Heidelberg Materials is acquiring the operations in Sweden and Norway, while CRH is acquiring the operations in Denmark and Finland. The transaction is subject to approval by relevant authorities.
In 2025, NCC initiated a strategic review of the Industry business area, which includes stone materials and asphalt operations. Industry’s business model differs significantly from NCC’s other operations. While Industry is based on the production of standardized products from fixed production facilities, NCC’s contracting operations are project-based and characterized by lower capital intensity. The review resulted in a decision in early 2026 to separate the business area from the rest of NCC.
Following that announcement, offers were received from industrial buyers, reflecting the business area's underlying value. NCC subsequently concluded that a sale to two strong industrial owners would create the greatest long-term value for both NCC and the Industry business area.
The divestment amounts to an enterprise value of SEK 8.2 billion. The purchase price will be settled in cash upon completion and is expected to generate a positive cash flow of approximately SEK 7 billion. Full details of the financial impact will be communicated upon completion of the transaction. The transaction is subject to approval by the relevant authorities.
“This transaction marks an important milestone for both NCC and Industry. For NCC, the transaction creates a more focused contracting company with greater opportunities to deliver long-term value for customers, shareholders and employees. The divestment reduces NCC’s capital intensity, unlocks significant capital and strengthens our financial flexibility. I am also confident that the divested operations will continue to develop strongly with new owners,” says Tomas Carlsson, President and CEO NCC.
NCC Industry is a leading Nordic producer of stone materials and asphalt. The business area had sales of SEK 12.6 billion and an operating profit of SEK 879 M in 2025.
NCC expects the transaction to be completed during the second half of 2027. Until completion of the transaction, NCC will continue to recognize the earnings of Industry. The business will be reported as discontinued operations from the third quarter of 2026 as required by IFRS 5.
SEB Corporate Finance acted as financial advisor and Schjødt Law Firm served as legal advisor to NCC in connection with the transaction. KPMG acted as advisor on financial, carve-out, tax, pension and HR due diligence matters.
This is the type of information that NCC AB is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on October 7, 2026, at 08.15 CEST.
Investor and analyst conference call today at 10.00 CEST
Today, on October 7 at 10.00 CEST, NCC will host a conference call for investors and analysts. President and CEO Tomas Carlsson will lead the call, which can be followed via the link below or by telephone. Participants joining by phone will also have the opportunity to ask questions. For requests regarding one-on-one meetings, please contact Andreas Koch.
Participate by telephone:
SE: +46 8 505 100 31
UK: +44 203 059 58 63
US: +1 631 570 56 13
For further information, please contact:
Andreas Koch, Head of Communications and IR, +46705097761, andreas.koch@ncc.se
Tove Stål, Head of Group External Relations, +46 765216102, tove.stal@ncc.se
NCC’s media line: +46 8 585 519 00, press@ncc.se, NCC's Media bank
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include building and infrastructure project contracting, asphalt and stone materials production and commercial property development. In 2025, NCC had sales of SEK 56 bn and 11,500 employees. The NCC shares are listed on Nasdaq Stockholm.
About Heidelberg Materials. Heidelberg Materials is one of the world's largest integrated manufacturers of heavy building materials and solutions, with leading market positions in cement, aggregates and concrete. With around 49,000 employees, the Group operates in almost 50 countries worldwide. In Sweden and Norway, Heidelberg Materials is present at more than 100 locations and has around 2,700 employees.
About CRH. CRH is the leading provider of building materials critical to modernizing infrastructure. With our team of 83,000 people across 4,000 locations, our unmatched scale, connected portfolio, and deep local relationships make us the partner of choice for transportation, water, and reindustrialization projects, shaping communities for a better tomorrow. CRH (NYSE: CRH) is a member of the S&P 500 Index. For more information, visit www.crh.com.