Veidekke — Earnings Release 2015

Jan 8, 2016

Veidekke ASA: Strong sales and high production of homes in Q4

Veidekke ASA: Strong sales and high production of homes in Q4

Veidekke sold a total of 456 residential units during the fourth quarter of

2015. This is an increase from 328 in the third quarter of 2015. The number of

units under construction is 2,381. Overall, Veidekke has sold homes for NOK 6.5

billion in 2015.

Veidekke's housing development activity at the end of the fourth quarter of

2015 is high in both Norway and Sweden, with increased sales and a greater

number of units being produced. Veidekke has sold 456 residential units at a

value of NOK 1.5 billion in the quarter, of which Veidekke's share is NOK 1.1

billion. Overall, Veidekke has sold homes for NOK 6.5 billion in 2015.

Veidekke's share is NOK 4.8 billion.

In Sweden demand for our homes is very high, which is reflected in a sales ratio

of 99%. Most of our projects are currently located in the Stockholm area and

Gothenburg. In Norway we have seen an increase in sales, particularly in the

Oslo area and in Trondheim, with a sales ratio of 69% for units under

construction.

-          "2015 was a good housing year for Veidekke with record sales in

Sweden and a good increase in sales in Norway. In both Norway and Sweden we

presented a number of good projects that were well-received by the market. We

can conclude that 2015 was a significantly better year for residential sales

than we expected," says CEO and President Arne Giske.

The number of units under construction is 2,381, with Veidekke's share being

1,734. The corresponding figure for the third quarter of 2015 was 2,289, where

Veidekke's share was 1,680. The overall sales ratio for projects under

construction is 89 %.

Home sales figures for Veidekke as at Q4 2015:

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

|Home sales|Q4 gross (1) |Q4 net (2) 2015 |Total gross (1) |Total net 2015 |

| |2015 (2014) |(2014) |2015 (2014)   |(2) (2014) |

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

|Norway |217 (130) |113 (59) |794 (438) |403 (246) |

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

|Sweden |239 (106) |239 (105) |1,010 (536) |1,009 (524) |

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

|Total |456 (236) |352 (164) |1,804 (1 410) |1,403 (770) |

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

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 largest construction and property development

companies. The company undertakes all types of building and construction

contracts, maintains roads and produces asphalt, crushed stone and gravel. The

company is characterised by involvement and local knowledge. Revenue is NOK 24

billion (2014), 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#1977518]