Selvaag Bolig ASA : Q4 2012 Record year for Selvaag Bolig
Stock exchange announcement from Selvaag Bolig ASA
26 February 2013
Selvaag Bolig's strong progress during the fourth quarter helped the company to achieve a record profit of NOK 490 million before tax for 2012.
Total sales of NOK 1.25 billion for the final three months yielded a pre-tax profit of NOK 220 million for the housebuilder, while the corresponding figures for the full year were NOK 2.8 billion and NOK 490 million.
"A substantial growth in sales and production during 2011 meant that we could enjoy a good year in 2012," comments chief executive Baard Schumann.
"The level of activity in the group is high, and we have a good order backlog. That will also contribute to creating substantial value for us in the years to come.
"We sold 1 011 homes during 2012, and had more than 1 000 under construction with a total sales value of roughly NOK 3.6 billion at 31 December."
The EBITDA margin, based on segment reporting, was 17.4 per cent for the fourth quarter and 19.3 per cent for 2012 as a whole.
Sales are first recognised when completed homes are delivered to their buyers.
The interim report for the fourth quarter can be downloaded here: http://www.selvaagbolig/investor
Results for the first quarter of 2013 will be presented on 29 May 2013.
Further information from
Baard Schumann, CEO, Selvaag Bolig ASA Telephone: +47 940 80 000, e-mail: email@example.com
Haavard Rønning, CFO, Selvaag Bolig ASA
Telephone: +47 400 20 019, e-mail: firstname.lastname@example.org
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.