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Veidekke — Earnings Release 2017
Apr 6, 2017
3781_rns_2017-04-06_1e52fe36-66d5-41eb-aaaa-610a2ff37a34.pdf
Earnings Release
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Oslo, Norway, 06 April 2017
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 wellreceived 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 | Q1 gross (1) | Q1 net (2) | 12 month rotating |
|---|---|---|---|
| sales | 2017 (2016) | 2017 (2016) | housing sales (1) |
| Norway | 145 (205) | 70 (104) | 746 |
| Sweden | 238 (246) | 211 (229) | 981 |
| Total | 383 (451) | 281 (333) | 1 727 |
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- Number of sales including jointly owned projects
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- 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, tel. +47 917 43 856, [email protected]
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.