Veidekke

Earnings Release • Jul 4, 2019

Veidekke ASA: Sold homes for NOK 1.4 billion in Q2

Veidekke ASA: Sold homes for NOK 1.4 billion in Q2

Veidekke sold 275 residential units during the second quarter of 2019.

Activities are evenly distributed between Norway and Sweden. Overall, Veidekke

has sold homes for NOK 1.4 billion during the second quarter of 2019. The number

of residential units under production is 2,798.

Veidekke sold 275 residential units during the second quarter of 2019. In

comparison, 215 homes were sold in Q2 2018 and 404 homes in Q1 2019. The sales

rate in Sweden has picked up somewhat in recent quarters. In Norway sales are

stable. The value of the residential units sold in the quarter was NOK 1,4

billion, of which Veidekke's share was NOK 1 billion.

"The second quarter was characterised by good interest and sales in all of our

focus areas, and the positive trend we have seen in Sweden in recent quarters

looks to continue," says EVP Jørgen Wiese Porsmyr. "The sales ratio of the

portfolio remains stable, and in our overall portfolio the number of units under

production remains high. There are many projects with a high sales ratio that

are approaching completion in Sweden, and this may result in a lower sales ratio

and fewer units in production in the time ahead."

The number of units under construction is increasing compared to the end of 2018

and is currently at 2,798 units, of which Veidekke's share is 2,174 units. The

sales ratio for units under construction is 82%.

Residential unit sales figures for Veidekke as at the second quarter of 2019:

+-------+----------+----------------+-------------------------+

| |Second quarter 2019 (2018) |12 months rotating sales |

+-------+----------+----------------+-------------------------+

| | Gross   | Net  | |

+-------+----------+----------------+-------------------------+

|Norway |120 (140) | 75 (96)  | 612  |

+-------+----------+----------------+-------------------------+

|Sweden |155 (75)  | 131 (67)  | 423  |

+-------+----------+----------------+-------------------------+

|Total  |275 (215) | 206 (163)  | 1,035  |

+-------+----------+----------------+-------------------------+

Gross and 12 months rotating sales = Number of sales including joint venture

projects

Net = Veidekke's share of sales

Photo: Construction start in Q2 for Sølyst, Stavanger, with 57 residential units

For press photos, see www.flickr.com/photos/veidekke, for more information,

contact:

· Audun Blegen, Director of Business Development at Veidekke Eiendom, tel. +47

959 79 664, audun.blegen@veidekke.no

· Jørgen Michelet, SVP Finance Veidekke ASA, tel. +47 917 43 856,

jorgen.michelet@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. The company is known for its involvement and

local knowledge. Its annual turnover is NOK 36 billion, and half of its 8,600

employees own shares in the company. Veidekke is listed on the Oslo Stock

Exchange and has always posted a profit since it was founded in 1936.