Nordecon in
2024
Nordecon in
2024
Nordecon at a glance
Nordecon is one of the largest construction groups in Estonia, mainly involved in general contracting and project management. In 2024, we celebrated our 35th anniversary. Over the years we have helped our customers with a wide range of design and construction projects – our companies build residential, commercial and public buildings, roads, ports and other facilities. Every day, we work to make public spaces in every corner of Estonia better, more comfortable, safer and more beautiful. Our core market is Estonia, but we also operate in Sweden and Ukraine.
Our people are highly skilled in their field and focused on quality results and continuous professional development. We take great pride in our team, whose expertise and experience enables us to provide modern, high-quality solutions to any construction or reconstruction challenge.
Nordecon drives innovation in construction management in Estonia. We use and test various digital solutions and pay increasing attention to the sustainability of our operations.
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Group structure at 31 December 2024
Strategic agenda and goals for 2023-2027
- The group will grow, mostly organically, with a focus on efficient use of resources.
- In Estonia, we will operate in the building and infrastructure construction as well as housing development segments.
- In foreign markets (Ukraine, Sweden), we will compete as a general contractor and a provider of concrete works.
- We will provide our people with a modern and inspiring work environment and a motivation system that fosters collaboration and initiative.
- We will improve our profitability by planning and managing our design and construction operations more precisely.
- We will streamline our work and decision-making processes by implementing digital solutions.
- We will maintain the order books of our different operating segments in balance.
- We will set our sustainable development goals and adopt an action plan to achieve them.
- Revenue will grow by at least 5% per year.
- Operating margin for the year will be consistently above 3%.
- Operating profit per employee will increase to at least €10 thousand per year.
- We will deliver a strong dividend yield for Nordecon’s shareholders.
Key figures for 2024
€224m
(2023: €186m)
Revenue
20.1%
(2023: -15.4%)
Revenue change, year on year
€209m
(2023: €217m)
Order book at the year-end
€181m
(2023: €277m)
Value of new contracts signed
55
(2023: 125)
Projects delivered to customers
435
(2023: 558)
Employees
3/0
(2023: 6/0)
Accidents / Fatal injuries at work (incl. subcontractors)
0
(2023: 0)
Environmental pollution, discrimination and corruption incidents
€0.2m
(2023: €0.3m)
Donations to community projects and charities
€224m
(2023: €186m)
Revenue
20.1%
(2022: -15.4%)
Revenue change, year on year
€209m
(2023: €217m)
Order book at the year-end
€181m
(2023: €277m)
Value of new contracts signed
55
(2023: 125)
Projects delivered to customers
435
(2023: 558)
Employees
3/0
(2023: 6/0)
Accidents / Fatal injuries at work (incl. subcontractors)
0
(2023: 0)
Environmental pollution, discrimination and corruption incidents
€0.2m
(2023: €0.3m)
Donations to community projects and charities
Construction market
Construction output has decreased for three years in a row. In 2024, the output of Estonian construction companies decreased by 6% overall and by 7% in the Estonian market. Building construction fell by 9% and infrastructure construction by 2% compared with 2023. Although the economic downturn in Estonia slowed in 2024, both residential and commercial property development declined. The general security situation and pessimistic economic climate also make it difficult to attract new foreign investment.
The Estonian economy has been in recession for ten consecutive quarters, partly due to geopolitical crises, developments in external markets and falling productivity in the corporate sector. Such an economic environment poses constant challenges that require continuous adaptation, flexibility and the capacity for rapid change.
Our work
2024 was a very successful year for the Nordecon group, with a solid foundation laid by a strong order book at the beginning of the year. We were able to increase revenue and, most importantly, significantly improve profitability. There were many large and complex projects, some of which are still ongoing, requiring not only engineering expertise but also excellent teamwork and time management.
As well as delivering strong financial results, our companies and people received a lot of recognition in 2024, with many of the awards being for construction projects related to national defence. Given the political uncertainties in the external environment and the ongoing war in Ukraine, we are keen to contribute both to strengthening Estonia's defence capabilities and to the reconstruction efforts in Ukraine.
Operating segments |
2024 |
2023 |
2022 |
2021 |
2020 |
|---|---|---|---|---|---|
Buildings |
84% |
76% |
81% |
75% |
72% |
Infrastructure |
16% |
24% |
19% |
25% |
28% |
In the Buildings segment, revenue grew by 36%, driven by significant revenue growth in the commercial and public buildings subsegments. In the industrial and warehouse facilities subsegment and the apartment buildings subsegment, revenue declined.
In 2024, the largest projects in the public buildings subsegment were the construction of the main building of the Estonian Internal Security Service and Loodusmaja (Nature Hub) in Tallinn, the design and construction of storage facilities for the Estonian Centre for Defence Investment in Tartu County and Ida-Viru County, the design and construction of a new study and sports building for the Saku Upper Secondary School near Tallinn, the reconstruction of the building of the Karlova School in Tartu, and the design and construction of a study building for the Centre for Defence Investment on the Raadi campus in Tartu.
Revenue generated by the apartment buildings subsegment consisted of revenue from the construction of the Vektor commercial and residential complex and the group’s own development projects: the sale of apartments in the Mõisavahe Kodu housing estate and the centrally located Emajõe Residents housing estate on the banks of the Emajõgi river in Tartu. We continue to build phase 1 of the Seileri Kvartal housing estate in Pärnu and the Tammepärja Kodu housing estate in the Tammelinn district in Tartu.
The largest ongoing projects in the commercial buildings subsegment were the construction of the Vektor commercial and residential complex and the LEED Gold compliant Golden Gate office building at Ahtri 6 in Tallinn, the design and construction of a commercial building at Nõlvakaare 4 at Raadi in Tartu County and the construction of a Lidl store in Võru.
A significant share of the revenue generated by the industrial and warehouse facilities subsegment came from the reconstruction of substations and installation of associated physical protection systems in the Poltava, Zhytomyr, Volyn and Ivano-Frankivsk oblasts in Ukraine.
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Revenue breakdown in Buildings segment |
2024 |
2023 |
2022 |
2021 |
2020 |
|---|---|---|---|---|---|
Commercial buildings |
21% |
23% |
24% |
29% |
23% |
Public buildings |
70% |
37% |
30% |
28% |
37% |
Apartment buildings |
6% |
27% |
28% |
29% |
28% |
Industrial and warehouse facilities |
3% |
13% |
18% |
14% |
12% |
The largest revenue contributor in the Infrastructure segment was the road construction and maintenance subsegment, whose revenue decreased by around 22% compared to the previous year. The main reasons for revenue decline were delays in the start of work on the Rail Baltica contracts and reduced investment by the Transport Administration.
A major share of the subsegment’s revenue came from the construction of an armoured manoeuvre shooting range and roads in Harju County, the reconstruction of the Mäeküla–Koeru–Kapu road section, the construction of the Tagadi ecoduct on the Rail Baltica route and the provision of road maintenance services in Järva County.
Revenue breakdown in the Infrastructure segment |
2024 |
2023 |
2022 |
2021 |
2020 |
|---|---|---|---|---|---|
Road construction and maintenance |
90% |
63% |
75% |
87% |
74% |
Other engineering |
10% |
30% |
20% |
6% |
18% |
Specialist engineering (including hydraulic engineering) |
- |
- |
5% |
4% |
4% |
Environmental engineering |
- |
7% |
- |
3% |
1% |
Foreign markets
Revenue generated outside Estonia, in Ukraine, accounted for approximately 2% of the group’s total revenue in 2024. Despite the war, our business volumes in Ukraine have stabilised and exceed the pre-war level. Ongoing projects include the reconstruction of substations and installation of associated physical protection systems in the Poltava, Zhytomyr, Volyn and Ivano-Frankivsk oblasts and the reconstruction of a building into an apartment complex for internally displaced persons in the city of Ovruch in Zhytomyr Oblast.
Nordecon did not generate any revenue and had no ongoing construction contracts in the Swedish market in the period under review.
|
|
2024 |
2023 |
2022 |
2021 |
2020 |
|---|---|---|---|---|---|
Estonia |
98% |
97% |
96% |
94% |
82% |
Sweden |
- |
- |
- |
- |
11% |
Finland |
- |
1% |
2% |
3% |
6% |
Ukraine |
2% |
2% |
- |
2% |
1% |
Latvia |
- |
- |
1% |
1% |
- |
Lithuania |
- |
- |
1% |
- |
- |
Sustainability
Responsible business has been in the spotlight for a number of years. In addition to complying with legal requirements, such as EU and other regulations, large companies are preparing for much broader reporting obligations in the coming years. Estonia adopted the EU’s Corporate Sustainability Reporting Directive (CSRD) as an amendment to the Accounting Act at the end of 2024 and, under current legislation, the Nordecon group will be subject to sustainability reporting requirements from 2025.
In the construction sector, only the larger companies will be required to develop a sustainability strategy in the coming years. Given the way the sector operates, large general contractors and major material producers will influence the whole industry, but the process is unlikely to be rapid or spontaneous. Investment in the construction sector is largely driven by market demand and due to the higher cost of sustainable options, there is no reason to expect significant growth in demand.
In early 2024, we began preparations to produce a sustainability report in accordance with the requirements of the CSRD. This included setting up a sustainability working group, identifying the group’s impacts, risks and opportunities in collaboration with key stakeholders and conducting a comprehensive double materiality analysis. By developing our environmental, social and governance (ESG) strategy in line with the double materiality analysis and by involving key partners and suppliers in the process, we are also leading the way for other market players.
Until the ESG strategy is adopted, we will report on the sustainability focus topics according to the previously agreed materiality ranking.
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Sustainability
Responsible business has been in the spotlight for a number of years. In addition to complying with legal requirements, such as EU and other regulations, large companies are preparing for much broader reporting obligations in the coming years. Estonia adopted the EU’s Corporate Sustainability Reporting Directive (CSRD) as an amendment to the Accounting Act at the end of 2024 and, under current legislation, the Nordecon group will be subject to sustainability reporting requirements from 2025.
In the construction sector, only the larger companies will be required to develop a sustainability strategy in the coming years. Given the way the sector operates, large general contractors and major material producers will influence the whole industry, but the process is unlikely to be rapid or spontaneous. Investment in the construction sector is largely driven by market demand and due to the higher cost of sustainable options, there is no reason to expect significant growth in demand.
In early 2024, we began preparations to produce a sustainability report in accordance with the requirements of the CSRD. This included setting up a sustainability working group, identifying the group’s impacts, risks and opportunities in collaboration with key stakeholders and conducting a comprehensive double materiality analysis. By developing our environmental, social and governance (ESG) strategy in line with the double materiality analysis and by involving key partners and suppliers in the process, we are also leading the way for other market players.
Until the ESG strategy is adopted, we will report on the sustainability focus topics according to the previously agreed materiality ranking.
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Quality
The quality of our work is primarily reflected in well-managed projects and buildings and facilities that are completed on time and to the required quality standards. Nordecon's customers are satisfied when we deliver high-quality construction work, act transparently and communicate openly. Our work is underpinned by conscious, systematic and uncompromising quality management.
Nordecon’s management system complies with the requirements of the quality management system standard ISO 9001, the environmental management system standard ISO 14001 and the occupational health and safety management system standard ISO 45001. Compliance with the standards has been certified by DNV.
Examples from 2024
- In the first half of the year, the parent company introduced a knowledge bank to store and quickly retrieve information on positive and negative examples for other projects, both for budgeting and execution purposes.
- The parent company extended the use of the Hausing environment to the management of warranty work in order to gain a better overview of warranty issues and associated costs.
- Embach Ehitus piloted the DoBu platform in the Mõisavahe development in 2024. DoBu helps homeowners find answers to technical questions about their home and provides valuable guidance. The builder and the developer can get a quick overview of all questions and problems, allowing for a quick response. DoBu’s AI specifies and categorises warranty cases. The Digital Construction Cluster nominated the pilot project for the Innovation Project of the Year 2024 award.
- In addition to the apartment maintenance files, apartment owners in the Vektor commercial and residential complex, completed by the parent company in 2024, were provided with instructional videos showing the location of the main electrical and utility systems in the apartment and describing how to maintain them.
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The compliance of the management system designed and implemented by Nordecon with the requirements of quality management standard ISO 9001, environmental management standard ISO 14001 and occupational health and safety management standard ISO 45001 is verified by the certificates issued by DNV.
Nordecon AS has built a modern building complex for the Estonian Internal Security Service, which includes a variety of spaces from offices to storage areas. The construction work had to be carried out with additional security restrictions, which made the execution more difficult, but the general contractor coped very well. Difficulties with the supply of materials due to the Covid-19 pandemic and the war in Ukraine were also skilfully resolved.
Representative of the Estonian Internal Security Service
The Estonian Centre for Defence Investment has always found Nordecon to be a very good partner, able to ensure high-quality and speedy completion of various defence projects. New military capabilities require, among other things, appropriate storage conditions, which are definitely provided by the modern facilities built by Nordecon in Jõhvi, Ämari and Tartu County.
We are pleased to say that we have recently signed a contract with Nordecon for the design and construction of a barracks for the Allied Forces in Tapa. Nordecon’s previous experience and knowledge of defence infrastructure requirements will certainly contribute to the successful completion of this project. Many thanks to the Nordecon team!
Kadi-Kai Kollo
Head of Infrastructure Department at the Estonian Centre for Defence Investment
The City Government of Tartu had a very pleasant and efficient cooperation with Embach Ehitus OÜ during the reconstruction works of Tartu Karlova School. Reconstruction projects, especially in buildings that have sections built at different times, are always challenging undertakings for all project parties, especially for the construction company. In addition to the usual factors – the client's evolving requirements, design errors, demanding neighbors, etc. – there is also a significant element of unpredictability involved.
Embach Ehitus OÜ proved to be an excellent cooperation partner. The project team's solid experience and competence, adequate staffing of the site, and a strong culture of communication and management ensured an efficient, smooth construction process that adhered to both the schedule and the budget. The client is very grateful for the collaboration and is pleased to acknowledge that Estonia has such well-managed, highly competent, and results-oriented construction company.
We hope that the future will bring more opportunities to work with you. The standards upheld by your organization serve as an example for other construction companies, and you have made a commendable contribution to the Estonian construction market.
Wishing you continued success in the construction sector! May you have many exciting projects ahead!
Indrek Hunt
The Chief Specialist of Construction Services Tartu City Government
Nordecon AS has built a modern building complex for the Estonian Internal Security Service, which includes a variety of spaces from offices to storage areas. The construction work had to be carried out with additional security restrictions, which made the execution more difficult, but the general contractor coped very well. Difficulties with the supply of materials due to the Covid-19 pandemic and the war in Ukraine were also skilfully resolved.
Representative of the Estonian Internal Security Service
The Estonian Centre for Defence Investment has always found Nordecon to be a very good partner, able to ensure high-quality and speedy completion of various defence projects. New military capabilities require, among other things, appropriate storage conditions, which are definitely provided by the modern facilities built by Nordecon in Jõhvi, Ämari and Tartu County.
We are pleased to say that we have recently signed a contract with Nordecon for the design and construction of a barracks for the Allied Forces in Tapa. Nordecon’s previous experience and knowledge of defence infrastructure requirements will certainly contribute to the successful completion of this project. Many thanks to the Nordecon team!
Kadi-Kai Kollo
Head of Infrastructure Department at the Estonian Centre for Defence Investment
The City Government of Tartu had a very pleasant and efficient cooperation with Embach Ehitus OÜ during the reconstruction works of Tartu Karlova School. Reconstruction projects, especially in buildings that have sections built at different times, are always challenging undertakings for all project parties, especially for the construction company. In addition to the usual factors – the client's evolving requirements, design errors, demanding neighbors, etc. – there is also a significant element of unpredictability involved.
Embach Ehitus OÜ proved to be an excellent cooperation partner. The project team's solid experience and competence, adequate staffing of the site, and a strong culture of communication and management ensured an efficient, smooth construction process that adhered to both the schedule and the budget. The client is very grateful for the collaboration and is pleased to acknowledge that Estonia has such well-managed, highly competent, and results-oriented construction company.
We hope that the future will bring more opportunities to work with you. The standards upheld by your organization serve as an example for other construction companies, and you have made a commendable contribution to the Estonian construction market.
Wishing you continued success in the construction sector! May you have many exciting projects ahead!
Indrek Hunt
the Chief Specialist of Construction Services Tartu City Government
Safety
One of our most important responsibilities is to ensure the safety of our sites and to create a safe and ergonomic working environment to prevent accidents and occupational diseases.
We provide ongoing training and information to our employees in this area, all sites have relevant action plans, everyone is provided with appropriate work and personal protective equipment, and all hazardous situations and accidents are analysed to prevent their recurrence. We carry out regular site inspections to ensure that both our employees and subcontractors are working properly and safely. We also promote healthy lifestyles and support the physical and mental health of our employees.
Examples from the year 2024
- At the end of each calendar year, the parent company recognises the achievements of its employees. In 2024, for the first time, the board presented the Safest and Tidiest Construction Site award to recognise the work of the coordinators and teams responsible for ensuring the safety and tidiness of construction sites.
- In 2024, the group’s subsidiary Embach Ehitus renovated 15 heated shelters used at construction sites. This included improving the exterior, installing new floors, insulation and ventilation and air conditioning systems, and equipping the shelters with new furniture, including folding tables.
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2024
|
Subcontractors’ workforce |
2023
|
Subcontractors’ workforce |
|
|---|---|---|---|---|
Work-related safety incidents |
1 |
8 |
13 |
11 |
Minor accidents at work |
0 |
1 |
2 |
2 |
Serious accidents at work |
1 |
2 |
0 |
2 |
Fatal accidents at work |
0 |
0 |
0 |
0 |
Environmental impacts
Our aim is to avoid risks and negative environmental impacts, keep the environment clean and minimise disruption to people living near our construction sites. Changing regulations and society’s growing environmental awareness mean that construction companies must pay increasing attention to the environmental aspects of their operations. We inform local residents in advance of planned work, work closely with local authorities and hold community engagement meetings to help prevent problems.
The most important environmental aspects of the group’s operations are:
- the materials used and the waste generated in the construction process;
- the risk of contamination of soil and water and the impact on wildlife and vegetation;
- greenhouse gas emissions from asphalt production.
We prepare an environmental plan for each site, monitor its implementation and update it regularly. We have also started mapping waste handlers to increase the proportion of waste that is recycled. An informed and sustainable approach also helps avoid additional costs.
Construction is a price-sensitive industry where environmental impacts are reduced where economically feasible or required by customers, but additional opportunities for voluntary impact reduction or recycling are relatively difficult to find. However, we are making efforts to raise awareness and influence the behaviour of our subcontractors (e.g. in relation to site waste management).
The group's goal is to ensure that the team can deliver more sustainable solutions on both current and future projects. To this end, our project managers attend environmental awareness lectures and we advise customers who wish to find more sustainable solutions.
Examples from 2024:
- In early 2024, the parent company started the construction of Loodusmaja (Nature Hub) in Tallinn, commissioned by Riigi Kinnisvara AS. It is an innovative nearly-zero energy timber building that will absorb around 3,900 tonnes of CO2 and facilitate adaptation to climate change through smart technologies. It will be a reference for the Estonian timber construction sector and a valuable centre for nature education.
- In the second half of 2024, the group, together with an external consultant, started preparations for measuring its greenhouse gas emissions and implementing a relevant data collection system from 2025.
- In order to meet market expectations and increasingly stringent procurement requirements, the subsidiary Tariston invested €400 thousand in sustainability by purchasing various machines and equipment in 2024.
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Giving back to society
Group companies give back to society by:
- supporting and promoting construction and engineering professions;
- participating in professional and public debate on issues affecting the construction sector;
- contributing to sport, education, culture and community initiatives through support activities.
Examples from 2024:
- Most group companies offered paid internships to students. The parent company organised three meetings for interns where they could learn about the company, visit construction sites and interact with Nordecon’s employees.
- We organised many site visits for students from various schools. For the first time, a site visit was combined with an academic lecture at the construction site of the new building of Saku School.
- The subsidiary Embach Ehitus continued to work with the Estonian Association of Civil Engineers to promote the engineering profession, contributing both financially and through lectures at various Estonian schools.
- For the third year in a row, the parent company participated as a founder in the implementation of the ‘Lae end’ (Charge Yourself) educational programme, which aims to strengthen the skills of physics teachers. In 2024, the programme was extended to include chemistry teachers and a record 20 teachers completed the programme.
- Nordecon awarded two engineering scholarships and one Heinrich Laul PhD scholarship through the Tallinn University of Technology Development Fund. The subsidiary Tariston contributed to the Peep Sürje Scholarship Fund.
Digital construction
Digital construction, which includes various digitalisation solutions, is part of Nordecon's daily work. The aim of digital solutions is to make work more efficient, transparent and systematic, thus enabling better analysis of activities and smarter decision-making. The group’s ambition is to be a leader and advocate in digital construction and to contribute to making practical digital solutions an everyday standard. Digital construction helps modernise the construction industry and makes the image of the sector more attractive to young people choosing a profession. Nordecon is also actively involved in the board of the Digital Construction Cluster to contribute to the wider development of digital construction in Estonia.
The group uses Building Information Modelling (BIM) in all projects where possible. In 2024, BIM was also increasingly used in infrastructure projects. The only exceptions are highly classified construction projects, which are usually subject to additional restrictions on the use of cloud-based solutions.
Examples from 2024:
- The parent company participated in Tehnopol’s AI development programme with a project to explore the possibility of creating an AI application for planning and managing construction works based on existing data from construction sites. During the programme, a specific case was selected and a prototype was developed in collaboration with technology partner MindTitan to test the functionality of the solution.
- The subsidiary Embach Ehitus piloted SimpleBIM software, which is designed to process and standardise BIM data, both in the budgeting process and on the construction sites of larger projects such as the commercial buildings at Väike-Turu 7.
- The subsidiary Tariston used advanced machine guidance technology in the Mäeküla–Koeru–Kapu pilot project. 3D spatial models were used in the execution of the construction work, which helped speed up the acceptance and documentation of the work. To ensure accuracy, a local base station was installed on site and a tachymeter was used for machine guidance.
- The subsidiary Tariston implemented Buildocs to manage the registers and track the status and deadlines of projects under warranty. Buildocs simplifies the management of the construction process by ensuring the rapid availability and accuracy of information.
- The parent company used Buildots, an AI-based application piloted a year earlier in the construction of the Vektor residential and commercial complex, in the construction of the Saku School building. Buildots is a technology solution used by the general contractor to more accurately assess construction progress. In addition, Dalux was used in the Golden Gate project to capture 360-degree images.
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Digital construction
Digital construction, which includes various digitalisation solutions, is part of Nordecon's daily work. The aim of digital solutions is to make work more efficient, transparent and systematic, thus enabling better analysis of activities and smarter decision-making. The group’s ambition is to be a leader and advocate in digital construction and to contribute to making practical digital solutions an everyday standard. Digital construction helps modernise the construction industry and makes the image of the sector more attractive to young people choosing a profession. Nordecon is also actively involved in the board of the Digital Construction Cluster to contribute to the wider development of digital construction in Estonia.
The group uses Building Information Modelling (BIM) in all projects where possible. In 2024, BIM was also increasingly used in infrastructure projects. The only exceptions are highly classified construction projects, which are usually subject to additional restrictions on the use of cloud-based solutions.
Examples from 2024:
- The parent company participated in Tehnopol’s AI development programme with a project to explore the possibility of creating an AI application for planning and managing construction works based on existing data from construction sites. During the programme, a specific case was selected and a prototype was developed in collaboration with technology partner MindTitan to test the functionality of the solution.
- The subsidiary Embach Ehitus piloted SimpleBIM software, which is designed to process and standardise BIM data, both in the budgeting process and on the construction sites of larger projects such as the commercial buildings at Väike-Turu 7.
- The subsidiary Tariston used advanced machine guidance technology in the Mäeküla–Koeru–Kapu pilot project. 3D spatial models were used in the execution of the construction work, which helped speed up the acceptance and documentation of the work. To ensure accuracy, a local base station was installed on site and a tachymeter was used for machine guidance.
- The subsidiary Tariston implemented Buildocs to manage the registers and track the status and deadlines of projects under warranty. Buildocs simplifies the management of the construction process by ensuring the rapid availability and accuracy of information.
- The parent company used Buildots, an AI-based application piloted a year earlier in the construction of the Vektor residential and commercial complex, in the construction of the Saku School building. Buildots is a technology solution used by the general contractor to more accurately assess construction progress. In addition, Dalux was used in the Golden Gate project to capture 360-degree images.
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Our people
The skills and commitment of our people are at the heart of our success. Providing a modern, safe and motivating working environment is therefore a priority for all group companies. We support our employees in their professional development and recognise their achievements. Our workforce is made up of professionals with a wide range of experience.
In 2024, the group employed 435 people, of whom 84% were men and 16% women. The average length of service is 10.4 years. We also pay a lot of attention to young people and organise activities to support the next generation of our workforce. In 2024, 25 young people completed an internship with us.
Examples from 2024:
- A group-wide satisfaction survey was conducted in autumn 2024. Compared to the previous year, the response rate was higher and the summary engagement index increased significantly across the group. A specific action plan for the coming year will be developed together with managers to address the concerns raised in the survey.
- At the end of the year, the parent company launched a virtual mailbox called the Trove of Ideas, which aims to encourage employee engagement and the contribution of ideas to improve the wellbeing and day-to-day processes of the organisation. The idea for the mailbox came from an action plan drawn up following the 2023 engagement survey.
- For the second time (the first time was in 2022), the parent company put together a team of five to represent Nordecon in the Construction Industry Science Challenge organised by Rakett69 Science Studio. The aim of the science challenge is to promote science and technology education among both children and adults.
- Engineering students ranked Nordecon AS second in a survey of attractive employers conducted by Instar EBC among students at higher and vocational education institutions in 2024. In addition, the parent company ranked third among construction companies in the employer reputation survey conducted by CV Keskus in 2024.
- The parent company organised a drawing competition for employees’ children up to the age of 15. The drawings of all participants were used in the company’s virtual Christmas card and the best drawing, chosen by the employees, was used in a wall calendar for the year 2025.
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Awards and public recognition
Builder of the Year 2024: Priit Murmann, project manager at Nordecon AS, was awarded the Builder of the Year 2024 title by the Estonian Association of Construction Entrepreneurs for his work as project manager in the construction of the Estonian Internal Security Service building complex.
Civil Engineer of the Year 2024: Priit Murmann, project manager at Nordecon AS, was also awarded the title of Civil Engineer of the Year 2024 by the Estonian Association of Civil Engineers for his work as project manager in the construction of the Estonian Internal Security Service building complex.
Attractive Employer of the Year 2024: Nordecon AS was ranked among the TOP 3 companies in the construction industry in the employer reputation survey conducted by CV Keskus.
Attractive Employer of the Year 2024: Nordecon AS was ranked among the TOP 2 companies by engineering students in the employer reputation survey conducted by Instar.
Medal for Contribution to the Defence of Ukraine – Медал ‘За сприяння обороні’: Toomas Luman, chairman of the council of Nordecon AS, was awarded a medal in Kyiv for his long-term and consistent support of Ukraine’s national defence.
Special Award from the Ministry of Defence: Nordecon AS was honoured for its outstanding contribution to national defence with the Special Award of the Ministry of Defence, which is given for special and unique contributions to the support of the Estonian Defence Forces.
Internal Security Service Cross of Merit, Second Class: Priit Murmann, project manager at Nordecon AS, was awarded the Internal Security Service Cross of Merit, Second Class, for his effective cooperation in the completion of the main building of the Estonian Internal Security Service.
Internal Security Service Plaque of Merit: Nordecon AS was awarded the Internal Security Service Plaque of Merit for effective cooperation in the completion of the main building of the Estonian Internal Security Service.
Ministry of Defence Silver Badges: Margo Rosin, project manager at Embach Ehitus OÜ, and Renee Must, project manager for electrical works at Embach Ehitus OÜ, were awarded Silver Badges by the Ministry of Defence for their contribution to the national defence of Estonia.
Estonian Centre for Defence Investment Builder of the Year 2023 Award: Nordecon AS received the Builder of the Year 2023 award from the Estonian Centre for Defence Investment.
Recognised Security Solution 2023: Nordecon AS received the Recognised Security Solution 2023 award from the Association of Estonian Security Companies for its work in the construction of a factory building for AS E-Piim.
Tariston AS won three places on the winners’ podium in two different competitions for the Smoothest Road 2024 organised by Teede Tehnokeskus AS.
Builder of the Year 2024: Priit Murmann, project manager at Nordecon AS, was awarded the Builder of the Year 2024 title by the Estonian Association of Construction Entrepreneurs for his work as project manager in the construction of the Estonian Internal Security Service building complex.
Civil Engineer of the Year 2024: Priit Murmann, project manager at Nordecon AS, was also awarded the title of Civil Engineer of the Year 2024 by the Estonian Association of Civil Engineers for his work as project manager in the construction of the Estonian Internal Security Service building complex.
Attractive Employer of the Year 2024: Nordecon AS was ranked among the TOP 3 companies in the construction industry in the employer reputation survey conducted by CV Keskus.
Attractive Employer of the Year 2024: Nordecon AS was ranked among the TOP 2 companies by engineering students in the employer reputation survey conducted by Instar.
Medal for Contribution to the Defence of Ukraine – Медал ‘За сприяння обороні’: Toomas Luman, chairman of the council of Nordecon AS, was awarded a medal in Kyiv for his long-term and consistent support of Ukraine’s national defence.
Special Award from the Ministry of Defence: Nordecon AS was honoured for its outstanding contribution to national defence with the Special Award of the Ministry of Defence, which is given for special and unique contributions to the support of the Estonian Defence Forces.
Internal Security Service Cross of Merit, Second Class: Priit Murmann, project manager at Nordecon AS, was awarded the Internal Security Service Cross of Merit, Second Class, for his effective cooperation in the completion of the main building of the Estonian Internal Security Service.
Internal Security Service Plaque of Merit: Nordecon AS was awarded the Internal Security Service Plaque of Merit for effective cooperation in the completion of the main building of the Estonian Internal Security Service.
Ministry of Defence Silver Badges: Margo Rosin, project manager at Embach Ehitus OÜ, and Renee Must, project manager for electrical works at Embach Ehitus OÜ, were awarded Silver Badges by the Ministry of Defence for their contribution to the national defence of Estonia.
Estonian Centre for Defence Investment Builder of the Year 2023 Award: Nordecon AS received the Builder of the Year 2023 award from the Estonian Centre for Defence Investment.
Recognised Security Solution 2023: Nordecon AS received the Recognised Security Solution 2023 award from the Association of Estonian Security Companies for its work in the construction of a factory building for AS E-Piim.
Tariston AS won three places on the winners’ podium in two different competitions for the Smoothest Road 2024 organised by Teede Tehnokeskus AS.
