Selvaag Bolig ASA: Q3 2014 - Sales up by 46 per cent
Selvaag Bolig ASA sold 259 homes with a combined value of NOK 915 million in the third quarter of 2014. This represented an increase of 46 per cent from the same period of last year.
"The positive trend in the newbuild market continued in the third quarter," says CEO Baard Schumann.
"Sales of homes in the NOK 2-4 million price range were particularly good, and the market for more expensive residences also improved."
Selvaag Bolig started construction on 203 homes during the quarter. A total of 274 units were completed, of which 262 were delivered to the buyer.
Five of the twelve completed units not delivered to the buyer have been sold. In addition, 17 units completed in earlier periods were delivered in the third quarter.
"We secured sufficient advance sales to be able to start construction in a number of important projects, and are ahead of budget for both sales and starts so far this year," says Schumann.
At 30 September, the company had 1 347 homes under construction and 18 unsold homes which had been completed.
Selvaag Bolig sold a total of 653 homes during the first nine months, with a combined sales value of NOK 2 254 million.
The company sold 236 homes with a combined value of NOK 625 million during the third quarter of 2013, and had 1 279 units under construction at 30 September last year. Of the 236 homes, 95 were student residences with an average value of NOK 700 000.
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, which controls the whole value chain from the acquisition of land to the sale of turnkey homes. With several thousand homes under development at any given time, the company concentrates on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig continues the 60-year history and experience of the Selvaag group, and offers a broad range of home types under the Start, Hjem and Pluss brands. Its head office is at Løren in Oslo.
www.selvaagbolig.no/investor