Veidekke — Earnings Release 2017

Jul 7, 2017

High production of homes by Veidekke

High production of homes by Veidekke

Veidekke sold 434 homes during the second quarter of 2017. This is

on a par with the first quarter. The number of homes in production

is 3449 with a sales ratio of 87%. Overall, Veidekke has sold homes

for NOK 1.9 billion in Q2 2017.

Veidekke's activities in housing development remain high in both

Norway and Sweden. Overall Veidekke has sold 434 residential units

at a value of NOK 1.8 billion in the quarter, of which Veidekke's

share was NOK 1.5 billion. The number of homes in production at the

end of the quarter was 3,449. Veidekke's share was 2,775. The

corresponding figure for the first quarter of 2017 was 2,973, where

Veidekke's share was 2,205. The overall sales ratio for projects

under construction is 87 %.

"Home sales in 2017 have maintained a high level, and the new

projects that have been put up for sale in the second quarter have

been well-received. The number of homes in production increased as

the quarter progressed. With a high sales ratio for homes in

production and a large share of the sales in the second quarter in

new projects that will start construction in the second half of the

year, the residential business area has good leeway going forward,

even if the market and sales should slow down in the next quarters,"

Giske says.

Home sales figures for Veidekke as at Q2 2017:

Home Q1 gross (2) Q2 net (2) 12 month rotating

sales 2017 (2016) 2017 (2016) housing sales (1)

----- ------------ ----------- -----------------

Norway 151 (265) 88 (162) 630

Sweden 283 (320) 259 (320) 914

Total 434 (585) 347 (482) 1244

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 30 billion (2016),

and half of the 7,400 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.