Selvaag Bolig ASA: Q4 2019: Sold homes worth NOK 4.5 billion in 2019

Selvaag Bolig sold 169 homes worth a total of NOK 859 million in the fourth quarter of 2019. Sales for the full year came to 908 units totalling NOK 4 492 million. The gross value is up by more than 40 per cent from 2018.

“Sales have been good and stable throughout the year,” says CEO Rolf Thorsen. “We are seeing a good level of interest in the homes we’re offering for sale at the moment, particularly in Greater Oslo, and continue to believe that market conditions will be good during 2020.

“We have more than 700 homes on sale, and will be launching completely new projects during the coming year as well as further stages in existing developments.”

Net sales in 2019, adjusted for Selvaag Bolig’s share of joint ventures, came to 752.5 homes worth NOK 3 753 million. During the year, construction began on 830 units, 775 were completed and 731 were delivered to the buyer.

In the fourth quarter alone, net sales came to 140 homes worth a total of NOK 705 million. Construction started during the period on 248 units, 254 were completed, and 214 were delivered to the buyer

At 31 December, Selvaag Bolig had 1 504 homes under construction and 56 completed units which remained unsold.

Full-year net sales for 2018 amounted to 695 homes worth a combined NOK 2 829 million, while the gross figure was 777 units worth NOK 3 169 million.

The comparable figures for the fourth quarter alone were 147 units net, worth NOK 614 million, and 158 gross, totalling NOK 660 million.

Further information from
Rolf Thorsen, CEO, Selvaag Bolig ASA
Telephone: +47 901 19 373, e-mail: rt@selvaagbolig.no

Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: kgr@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 entire value chain from acquisition of land to sale of turnkey 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’s head office is at Ullern in Oslo.

www.selvaagboligasa.no

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