Selvaag Bolig ASA - Q1 2013 Sales of NOK 897 million in first quarter
Oslo, 02 April 2013: Selvaag Bolig ASA ("Selvaag Bolig", ticker "SBO")
Selvaag Bolig ASA sold 243 homes with a combined vale of NOK 897 million in the first quarter of 2013, and had 1 057 dwellings under construction at 31 March.
"The solid demand we experienced last year has continued, and we're enjoying good sales in all our markets. The pace of sales and the market are as forecast and we've priced our homes correctly," chief executive Baard Schumann said.
The company began the process of selling 227 dwellings in and around Greater Oslo and Stavanger during the first quarter. Sales were particularly good for the Lørenskog Stasjonsby project, where 27 of 28 terraced houses were sold as soon as sales started.
"This demonstrates that the level of demand for family homes is high on the outskirts of the big cities in our priority areas," Schumann said.
Selvaag Bolig began construction of 168 homes in all during the first quarter, while 178 units were completed during the period. Of the latter, 162 were delivered to their buyers. A total of nine of the 178 completed homes which were not delivered to the buyer have been sold. In addition, eight units completed earlier were delivered during the first quarter. The company had 23 unsold completed homes at 31 March.
Selvaag Bolig sold 244 dwellings with a combined value of NOK 830 million in the first quarter of 2012, and had 1 128 units under construction at 31 March last year.
Further information from
Baard Schumann, CEO, Selvaag Bolig ASA Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no
Haavard Rønning, CFO, Selvaag Bolig ASA
Telephone: +47 400 20 019, e-mail: hroe@selvaagbolig.no
Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under construction at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen and Stavanger. Selvaag Bolig represents a continuation of the Selvaag group's 60-year history and experience, and offers a broad variety of property types marketed under the brand names Start, Hjem and Pluss. The company is headquartered at Løren in Oslo.
www.selvaagbolig.no/investor