Selvaag Bolig ASA

Selvaag Bolig ASA - Record year for Selvaag Bolig

Selvaag Bolig ASA sold 1 044 homes during 2016 with a total value of NOK 4.36

billion and an average price per unit of NOK 4.2 million. The number sold,

turnover and average value were all the highest in the company's history.

"We've had a fantastic year. Sales have been very good throughout and we have

sold well in all our projects. The market outlook is positive, and we'll have

many new homes ready for sale in the first and second quarters of 2017,"

comments CEO Baard Schumann.

Selvaag Bolig began construction of 902 units during the year, completed 836 and

delivered 869 to the buyer. Gross sales, including all sales in joint venture

projects, came to 1 182 homes.

"Since sales aren't recognised as income until the completed home has been

delivered to the buyer, this will give us very good future revenues," says

Schumann.

The company sold 161 residential units with an overall value of NOK 764 million

during the fourth quarter of 2016. It started the building of 196 homes during

this period, completed 255 and delivered 254.

At 31 December, Selvaag Bolig had 1 356 homes under construction and 43

completed units which remained unsold. Gross sales for the quarter came to 182

homes.

A total of 935 homes with an overall value of NOK 3 214 billion and an average

value of NOK 3,4 million were sold by the company in 2015, while its sales for

the fourth quarter of that year came to 209 units worth an overall NOK 751

million.

Further information from

Baard Schumann, CEO, Selvaag Bolig ASA

Telephone: +47 940 80 000, e-mail: [email protected]

Sverre Molvik, CFO, Selvaag Bolig ASA

Telephone: +47 401 00 585, e-mail: [email protected]

Selvaag Bolig ASA is a residential property developer controlling the entire

value chain from acquisition of land to sale of homes. The company has several

thousand homes under development at any given time, and focuses on the growth

areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig

represents a continuation of Selvaag's 60-year history and experience, and

offers a broad variety of property types marketed under the brand names Start,

Hjem and Pluss. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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