Selvaag Bolig ASA: Q1 2019: Sold 270 homes for NOK 1 320 million

Selvaag Bolig sold 270 homes worth NOK 1320 million in the first quarter of 2019. Sales were particularly positive in the Oslo region.

“The market was good in the first quarter. We experienced a good level of interest in the homes we had for sale in all the markets where we operate,” says CEO Olav Selvaag.

“Sales have been especially positive in the Oslo region, and we have had successful sales starts in new projects in such areas as Asker and Ås in the Greater Oslo area.”

Net sales for the quarter, adjusted for Selvaag Bolig’s share of joint ventures, came to 243 homes worth NOK 1 183 million in all. Construction began on 97 homes, 12 were completed and 29 were delivered to the buyer.

Gross sales for the quarter came to 270 homes with a combined value of NOK 1 320 million. At 31 March, Selvaag Bolig had 1 534 homes under construction and 13 completed units which remained unsold.

Sales for the corresponding quarter of 2018 amounted net to 185 homes worth a combined NOK 693 million and gross to 215 units with an overall value of NOK 788 million.

Further information from

Olav H Selvaag, CEO, Selvaag Bolig ASA
Telephone: +47 901 67 388, e-mail: ohs@selvaagbolig.no

Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: kgr@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. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.