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Veidekke — Earnings Release 2016
Jul 7, 2016
3781_rns_2016-07-07_ef21305d-8069-4694-b8ea-2036a8ee128c.html
Earnings Release
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Veidekke ASA: NOK 4.8 billion in residential sales
Veidekke ASA: NOK 4.8 billion in residential sales
Veidekke sold a total of 615 homes during the second quarter of 2016. Sales
remain high in both Norway and Sweden.
Veidekke's housing development activity at the end of the second quarter of
2016 is high in both Norway and Sweden, with good sales and more homes being
built. In total, 615 homes were sold at a value of NOK 3.1 billion during the
quarter. In comparison, 451 homes were sold in Q1. Overall, Veidekke has sold
homes for NOK 4.8 billion in 2016.
In Sweden, activities are high, particularly in Gothenburg and Greater
Stockholm. In Norway, activities are at their highest in Oslo and Trondheim.
"Stable, high sales in both Norway and Sweden mean that the number of homes
being built has increased noticeably," says Group CEO Arne Giske. "It is
particularly pleasing that we are experiencing good sales in many different
locations and that we can see that we have excellent projects for which
commencement of construction is rapidly achieved. However, we would have liked
to have more projects ready for sale in the Oslo area to satisfy the great
demand for housing here," Giske says.
The number of homes under construction is 2,877, with Veidekke's share being
2,181. The corresponding figure for the second quarter of 2015 was 1,874, of
which Veidekke's share was 1,381. The overall sales ratio for projects under
construction is 87 %. The overall sales value in the quarter was NOK 3.1
billion, of which Veidekke's share was NOK 2.4 billion.
+------------+--------------+-----------------------------------------+
| Home sales | Q2 gross (2) | Veidekke's share of sales in Q2 net (2) |
| | 2016 (2015) | 2016 (2015) |
+------------+--------------+-----------------------------------------+
| Norway | 265 (212) | 162 (107) |
+------------+--------------+-----------------------------------------+
| Sweden | 350 (342) | 320 (342) |
+------------+--------------+-----------------------------------------+
| Total | 615 (554) | 482 (449) |
+------------+--------------+-----------------------------------------+
1. Number of sales, including joint venture 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, [email protected]
CFO Jørgen Michelet at Veidekke ASA, tel. +47 917 43 856,
Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of construction and civil
engineering contracts, maintains roads, and produces asphalt and aggregates. The
company is characterised by involvement and local knowledge. Revenue NOK 24.5
billion (2015) and half of the 7,000 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.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#2026447]