Veidekke — Earnings Release 2014

Jul 3, 2014

Veidekke ASA: Increased home sales

Veidekke ASA: Increased home sales

Veidekke sold a total of 284 homes in the second quarter of 2014. This is an

increase from 128 in Q1 2014. Housing sales are now higher in Sweden than in

Norway and there is a strong level of activity with several new projects

starting in both countries.

In Norway Veidekke's home sales (including jointly owned projects) have

increased somewhat from Q1. This is due to both the general improvements in the

residential property market, particularly in the central region of Eastern

Norway, as well as multiple sales commencing across new projects this quarter.

In Sweden Veidekke have had several successful sales and activity levels are

steady.

"We are seeing that home sales are increasing somewhat in Norway, and we have

commenced building on four new projects in the quarter. Among others, a decision

has been made to start building the project Gartnerløkka in Oslo. This is the

first stage of the development at Løren, where we will develop a total of more

than 900 homes in cooperation with OBOS. In Sweden we have for a long period

experienced a stable high activity level in all regions, and sales were also

good in Q2," says CEO and President Arne Giske.

Veidekke's property operations in Norway and Sweden sold a total of 284 homes in

Q2. The total sales value for the quarter was NOK 900 million, of which

Veidekke's share was NOK 680 million. The number of homes in production is

1,453, of which Veidekke's share is 1,079. The combined sales ratio for projects

under construction is 73 %.

Veidekke's home sales figures for Q2 2014:

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

|   | Sales figures including jointly | Veidekke's share of sales (net |

| | owned projects (gross sales) | sales) |

| | | |

| |   |  |

| | | |

| | Q2 2014 (2013) | Q2 2014 (2013) |

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

|Norway| 118 (157) | 73 (106) |

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

|Sweden| 166 (147) | 164(113) |

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

|Total | 284 (304) | 237 (219) |

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

For more information please contact:

Director of business development with Eiendom, Audun Blegen, tel.

+47 959 79 664, audun.blegen@veidekke.no

SVP Finance Jørgen Michelet, tel. +47 917 43 856, jorgen.michelet@veidekke.no

Veidekke is one of Scandinavia's leading contractors and property developers

with a turnover of NOK 21 billion (2013) and 6,300 employees. Activities include

building and construction projects, residential developments, asphalt plants,

gravel and aggregates, and road services. Our values are professional, honest,

enthusiastic and ground-breaking. Our goals for health, safety and the

environment, HSE, have equal status with our financial goals. Veidekke is

characterised by a strong corporate culture with employee involvement and co-

ownership as important cornerstones. More than half of the employees are co-

owners, holding around 20 per cent of the Group's shares between them. The

company is listed on the Oslo Stock Exchange and has always posted a profit

since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1811854]