Profitable strong growth in Block Watne Gruppen

(Oslo 21 February 2007) Operating revenues for the 4th quarter 2006 amounted to NOK 447 million, up NOK 49 million (12.3 %). Operating revenues for 2006 amounted to NOK 1 529 million, up NOK 37 million (2.5 %). EBIT for the 4th quarter 2006 was NOK 84 million, up NOK 18 million (27.3 %). EBIT for 2006 amounted to NOK 241 million, up NOK 31 million (14.8 %). The EBIT margin for the 4th quarter 2006 was 18.8 % and 15.6 % for 2006. The board will propose a dividend of NOK 2.50 per share.
 
- The operating revenues and the operating profit for the 4th quarter 2006 and the year 2006 in Block Watne Gruppen show a strong growth compared with previous years. Combined with growth in new orders, a strong order backlog and expanded production staff, this forms a solid basis for 2007, comments Lars Nilsen, CEO in Block Watne Gruppen
- We see the market prospects for 2007 and 2008 as positive in our core business. Demand in 2007 and 2008 for detached/low-rise houses and flats outside city centres is expected to be on a par with 2006.
 
 
Key figures 4th quarter 2006
  • Operating revenues NOK 447 million as compared to NOK 398 million in the 4th quarter 2005. Growth 12.3 percent
  • Operating profit (EBIT) NOK 84 million as compared to NOK 66 million in the 4th quarter 2005. Growth 27.3 per cent
  • EBIT margin 18.8 per cent as compared to 16.6 per cent in the 4th quarter 2005
  • Profit before tax (EBT) NOK 83 million as compared to NOK 56 million in the 4th quarter 2005. Growth 47.4 per cent
  • New orders NOK 427 million as compared to NOK 335 million in the 4th quarter 2005. Growth 27.2 per cent
  • Cash flow from operating activities is positive with NOK 63 million
Key figures 2006
  • Operating revenues NOK 1 529 million as compared to NOK 1 492 million in 2005. Growth 2.5 per cent
  • Operating profit (EBIT) NOK 241 million as compared to NOK 210 million in 2005. Growth 14.8 per cent
  • EBIT margin 15.7 per cent as compared to 14.0 per cent in 2005
  • Profit before tax (EBT) NOK 218 million as compared to NOK 172 million in 2005. Growth 26.3 per cent
  • New orders NOK 1 686 million as compared to NOK 1 512 million in 2005. Growth 11.5 per cent
  • Order backlog NOK 966 million as compared to NOK 807 million in 2005. Growth 19.7 per cent
  • Cash flow from operating activities is positive with NOK 115 million
  • The board will propose a dividend of NOK 2.50 per share.
 
For more details, see the attached interim report.
 
 
Further information from:
Lars Nilsen, president and CEO, Block Watne Gruppen ASA, tel: +47 23 24 60 00
Ketil Kvalvik, chief financial officer, Block Watne Gruppen ASA, tel: +47 23 24 60 42, +47 90 77 13 15

About Us

BWG Homes develops, sells and constructs residential homes in the Nordic region. The brands owned by the Group are Block Watne and Hetlandhus in Norway, Kärnhem, Myresjöhus and SmålandsVillan in Sweden. Ranked as a leading residential house builder in its markets, the Group annually completes approx. 2 000 new homes through own residential projects and for individual customers. BWG Homes has approx. 1 000 employees. In 2013 the operational turnover was NOK 3.9 billion. BWG Homes is a company in the OBOS Group.

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