- Despite fluctuations in the housing market, the Group increased its operating revenues and operating profit in the quarter and achieved satisfactory margins. The market situation is still affected by financial turbulence and a volatile housing sector. The Group's order intake for Q1 was 20.9 percent lower than in the same period in 2007. In April, the Group reported a good order intake, and was able to show 19 percent growth compared with April 2007, comments CEO Lars Nilsen in BWG Homes.

 

Operating revenues NOK 858 million (NOK 785 million). Up 9.4 per cent.

EBITDA NOK 113 million (NOK 96 million). Up 17.2 per cent.

EBITDA margin 13.1 per cent (12.2 per cent).

EBIT NOK 106 million (NOK 96 million). Up 10.2 per cent.

EBIT margin 12.4 per cent (12.3 per cent).

EBT NOK 74 million (NOK 75 million). Down 0.6 per cent.

New orders NOK 736 million (NOK 931 million). Down 20.9 per cent.

Order backlog NOK 1 821 million (NOK 1 990 million). Down 8.5 per cent.

 

(Comparable figures 1st quarter 2007 are pro forma).

 

 

For more details, see the attached interim report.

 

Lars Nilsen, CEO, BWG Homes ASA, tel: +47 23 24 60 00

Ketil Kvalvik, CFO, BWG Homes ASA, tel: +47 23 24 60 42, +47 90 77 13 15

 

BWG Homes develops, sells and constructs residential homes in the Nordic region. The present brands owned by the group are Block Watne and Hetlandhus in Norway, Myresjöhus and SmålandsVillan in Sweden. BWG Homes sells and constructs homes through own residential projects and for individual customers. Ranked as a leading residential house builder in its markets, the group annually completes more than 2 500 new homes. BWG Homes has 1 330 employees. In 2007 the turnover was NOK 3.2 billion.