Selvaag Bolig ASA

Selvaag Bolig ASA: Q1 2020: Sold 196 homes worth NOK 1.03 billion

Selvaag Bolig sold 196 homes worth a total of NOK 1 031 million in the first

quarter of 2020. Sales were particularly good in the Oslo region.

"The market was good in the first quarter, especially in the Oslo region. We've

also achieved satisfactory sales at the end of the quarter, even though the

figures have naturally been lower because of the coronavirus. However, we're

keeping the wheels turning and the level of activity in the company is high. All

our construction projects are progressing as planned," says CEO Rolf Thorsen.

Net sales in the quarter, adjusted for Selvaag Bolig's share of joint ventures,

came to 164 homes worth NOK 840 million. During the period, Selvaag Bolig began

construction on 15 units, 89 were completed and 114 were delivered to the buyer.

At 31 March, Selvaag Bolig had 1 431 homes under construction and 37 completed

units which remained unsold.

CFO Sverre Molvik says that Selvaag Bolig is well positioned to cope with the

extraordinary circumstances.

"Activity in the company remains good, with all deliveries in the quarter

implemented as planned and 76 per cent of the homes currently under construction

sold. Should the present crisis last for a long time or escalate, we are

therefore very well positioned to cope with it. We have a strong balance sheet

and good liquidity. Our risk is also substantially reduced because we have no in

-house construction activities and our land bank was sold during the first

quarter."

Net sales for the first quarter of 2019 amounted to 243 homes worth a combined

NOK 1 183 million, while the gross figure was 270 units worth NOK 1.32 billion.

Further information from

Rolf Thorsen, CEO, Selvaag Bolig ASA

Telephone: +47 901 19 373, e-mail: [email protected]

Sverre Molvik, CFO, Selvaag Bolig ASA

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

Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig

ASA

Telephone: +47 957 75 593, e-mail: [email protected]

Selvaag Bolig ASA is a residential property developer which controls the entire

value chain from acquisition of land to sale of turnkey 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 70-year history and

experience, and offers a broad variety of property types. The company's head

office is at Ullern in Oslo.

www.selvaagboligasa.no

This information is subject to the disclosure requirements specified in section

5-12 of the Norwegian Securities Trading Act.

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