Veidekke — Earnings Release 2014

Jan 7, 2015

Veidekke ASA: Strong finish in home sales for Veidekke

Veidekke ASA: Strong finish in home sales for Veidekke

Veidekke sold a total of 974 homes in 2014. This is an increase of 7% compared

to 2013. In Sweden we have seen the best home sales since 2008. In Norway there

was a marked improvement in sales after the summer.

Activity in Veidekke's housing development operations is high at the start of

2015, with 1,540 homes in production, of which Veidekke's share is 1,225. The

corresponding number at the same time last year was 1,912 (1,417) homes. The

overall sales ratio for homes under construction is 79% (74%).

The healthy Swedish housing market characterized Veidekke's home sales in 2014.

Sales went well and activity increased in all of our focus areas in Stockholm,

Gothenburg and Skåne. This is also proven by a high sales ratio of 90% for homes

under production. Sales will start for several new projects as spring proceeds,

and we expect a continued high level of activity in Sweden in the time ahead.

In Norway there have been major regional differences in home sales, but overall

sales have seen a positive trend as the year progressed.

* "We see that Veidekke's overall property operations have undergone positive

development in 2014, and it is encouraging that sales in Sweden have

continued to accelerate through the year. In Norway there will be particular

focus on starting sales on more projects so that things pick up here too,"

says CEO and President Arne Giske.

The overall sales value in the quarter was NOK 785 million, of which Veidekke's

share was NOK 510 million. In 2014 Veidekke's projects have sold flats for NOK

3.2 billion.

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

| Home sales | Q4 gross (1) | Q4 net (2) | Total gross  (1) | Total net (2) |

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

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

| Norway | 120 (56) | 59 (36) | 438 (469) | 246 (307) |

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

| Sweden | 106 (101) | 105 (97) | 536 (440) | 524 (337) |

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

| Total | 226 (157) | 164 (133) | 974 (909) | 770 (644) |

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

1. Number of sales including jointly owned projects

2. Veidekke's share of sales

For more information, please contact:

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

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

CFO 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#1884680]