Veidekke — Earnings Release 2016

Jan 5, 2017

Veidekke ASA: A good ending to the year

Veidekke ASA: A good ending to the year

Veidekke sold 1,795 residential units in 2016 worth over NOK 8 billion. The

number of units in production at the end of the year was 3,059 and sales

performance remained high at 88%.

At the end of 2016, activity was high in both Norway and Sweden, with good sales

and a high number of units being produced. During the fourth quarter, Veidekke

sold 410 residential units at a value of NOK 1.15 billion, of which Veidekke's

share is NOK 0.93 billion. Overall Veidekke has sold homes for NOK 8.2 billion

in 2016, where Veidekke's share is NOK 5.5 billion.

"2016 was a good year for Veidekke, with activities at record levels in Norway

and Sweden. We have many projects on the market for sale that have also

generated healthy response. What is curtailing sales at the moment is the number

of new projects. The market is very strong," says Arne Giske, CEO and President

of Veidekke ASA.

The number of homes under construction is 3,059, with Veidekke's share being

2,383. The corresponding figure at the end of the fourth quarter of 2015 was

2,381, of which Veidekke's share was 1,739. The overall sales ratio for projects

under construction is 88 %.

Home sales figures for Veidekke as at Q4 2016:

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

|   | Fourth quarter 2016 (2015) | 2016 (2015) |

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

|   | Gross(1) | Net(2) | Gross(1) | Net(2) |

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

| Norway | 169 (220) | 87 (112) | 806 (794) | 433 (406) |

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

| Sweden | 241 (241) | 206 (241) | 989 (1010) | 889 (1010) |

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

| Total | 410 (461) | 293 (353) | 1795 (1804) | 1322 (1416) |

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

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, 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 and aggregates. The company is

characterised by involvement and local knowledge. Revenue is 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.