Veidekke — Earnings Release 2017

Apr 6, 2017

Veidekke sold homes to the tune of NOK 1.8 billion

Veidekke sold homes to the tune of NOK 1.8 billion

Veidekke sold a total of 383 homes during the first quarter

of 2017. This is on a par with Q4 2016. The number of homes

in production is 2,973. Overall, Veidekke has sold homes for

NOK 1.8 billion in Q1 2017.

Veidekke's activities in housing development remain high in

both Norway and Sweden. Overall Veidekke has sold 383

residential units at a value of NOK 1.8 billion in the

quarter, of which Veidekke's share was NOK 1.6 billion. The

number of homes in production at the end of the quarter was

2,973. Veidekke's share was 2,205. The corresponding figure

for the fourth quarter of 2016 was 3,059, where Veidekke's

share was 2,383. The overall sales ratio for projects under

construction is 90 %.

- Housing sales in 2017 have started well, and all

projects we have put up for sale have been well-received by

the market. Overall, sales are in line with the previous

quarters, and reflect the high sales ratio in the portfolio.

This means that we are maintaining the high level of

activity in both Norway and Sweden," says CEO and President

Arne Giske.

Home sales figures for Veidekke as at Q1 2016:

Home sales Q1 gross (1)

2017 (2016) Q1 net (2)

2017 (2016) 12 month rotating housing sales (1)

Norway 145 (205) 70 (104) 746

Sweden 238 (246) 211 (229) 981

Total 383 (451) 281 (333) 1 727

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.