VEIDEKKE ASA Veidekke sold a total of 451 homes during the first quarter of 2016. This is on a par with Q4 2015. The number of homes in production is 2,398. Overall, Veidekke has sold homes for NOK 1.7 billion in Q1 2016.
Veidekke's housing development activity at the end of the first quarter of 2016 is high in both Norway and Sweden, with good sales and a high number of units being produced. Veidekke has sold 451 residential units at a value of NOK 1.7 billion in the quarter, of which Veidekke's share is NOK 1.2 billion.
In Sweden demand for Veidekke's homes is very high, which is reflected in a sales ratio of 99%. Most of the projects are located in the Stockholm area and Gothenburg. In Norway we have seen very good sales in all of our residential projects, particularly in eastern Norway and in Trondheim, with a sales ratio of 80 % for units under construction.
"Residential sales in 2016 have started well, and are on a par with the previous four quarters. This means that we are maintaining the high level of activity in both Norway and Sweden," says CEO and President Arne Giske.
The number of homes in production at the end of the quarter was 2,398. Veidekke's share is NOK 1,774. The corresponding figure for the fourth quarter of 2015 was 2,389, where Veidekke's share was 1,734. The overall sales ratio for projects under construction is 94%.
Home sales figures for Veidekke as at Q1 2016:
| Home sales | Q1 gross (1) 2016 (2015) | Q1 net (2) 2016 (2015) | 12 months rotating (1) |
| Norway | 205 (244) | 104 (128) | 755 |
| Sweden | 246 (218) | 229 (217) | 1038 |
| Total | 451 (462) | 333 (345) | 1793 |
- Number of sales including jointly owned projects
- 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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Veidekke ASA via Globenewswire
