Nordecon AS announced profits of almost €3.2 million in the first half of 2018, thanks primarily to higher margins in the infrastructure segment of its business. The result was up from 0.5 percent during 2017 to 3.7 percent this year. However, stiff competition, increased subcontractor fees and labor costs pushed down margins in its building segment from 4.1 percent last year to 3.1 percent. Although 93 percent of the construction company’s operations are within Estonia, sales in the Ukraine have more than doubled and now account for 4 percent of the company’s turnover. Nordecon’s order book currently stands at €131 million, which is almost identical to the figure posted at the same period last year. But it’s a disappointment compared to the €144m in orders the company boasted about at the end of 2017.
