NRC Group ASA ("the Company") announces that AGN Haga AB ("AGN"), in which the Company's subsidiary Nordic Railway Construction Sverige AB holds a 20% interest, has entered into a settlement agreement with Trafikverket regarding project E03 Kvarnberget.
This settlement concludes the financial involvement and risk exposure related to AGN for the Company's subsidiary Nordic Railway Construction Sverige AB.
AGN has been involved in two large projects (E04 Station Haga and E03 Kvarnberget) with Trafikverket as customer. E04 Station Haga was economically settled in 2024. The final settlement of E03 Kvarnberget, constitutes a full and final settlement of all outstanding claims and obligations between the parties. Following a net payment of SEK 40 million from AGN to Trafikverket, the Company's 20% share amounts to SEK 8 million. In addition, the Company will pay SEK 6 million as part of a separate settlement of costs between AGN Haga and its shareholders, bringing the Company's total financial cost to SEK 14 million. The liquidity effect is neutral for the Company. Upon completion of the settlement payments, all parent company guarantees and sureties previously provided by the owners of AGN will be fully released and discharged.
“This case has been handled by our Swedish team over several years and is now finally resolved. It is a good example of how consistent, focused effort over time protects the business and creates a stronger foundation going forward”, says Anders Gustafsson, CEO of NRC Group ASA.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.