Selvaag Bolig ASA: Homes worth NOK 3.57 billion sold in 2017
Selvaag Bolig ASA sold 182 homes with a total value of NOK 696 million during the fourth quarter of 2017. Sales for the full year totalled 814 homes worth NOK 3 569 million in all.
"Sales have been good for 2017 as a whole. While the year got off to a very good start, the market quietened down after the second quarter. We've nevertheless succeeded in selling steadily and well in all our projects, so that the sales ratio for the homes we have under construction is high," says CEO Baard Schumann.
Selvaag Bolig started construction of 799 units during the year, completed 690 and delivered 737 to the buyer. Adjusted for Selvaag Bolig's share of joint ventures, sales amounted to 701 homes worth NOK 2 954 million.
During the fourth quarter, the company began the construction of 217 units, completed 336 and delivered 355 to the buyer. Adjusted for Selvaag Bolig's share of joint ventures, sales in the same
period amounted to 168 homes worth NOK 632 million. At 31 December, Selvaag Bolig had 1 463 homes under construction and 23 completed units which remained unsold.
"Value creation in the company is high and we believe 2018 will be a good year, also in terms of sales. We expect the market position to improve gradually over the year," says CEO Baard Schumann.
In 2016, Selvaag Bolig had net sales of 1 044 homes with a combined value of NOK 4.36 billion. Net sales in the fourth quarter of 2016 totalled 161 homes, while gross sales came to 182.
Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no
Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@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 development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 70-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 Ullern in Oslo.