Selvaag Bolig ASA: Sold 192 homes for NOK 914 million in third quarter

Selvaag Bolig sold 192 homes worth NOK 914 million in the third quarter of 2019. Sales for the first nine months came to 739 units totalling NOK 3 633 million.

“The balance between supply and demand is positive and sales have been good over the quarter. Sales of homes so far this year are more than NOK 1 billion higher than in the same period of 2018,” says CEO Rolf Thorsen.

“While the market has been particularly good in Oslo and the surrounding local authorities, we have also sold well in such places as Tønsberg. We don’t expect any significant changes in market conditions during the fourth quarter, and have attractive projects for sale in all the markets where we operate.”

Net sales for the third quarter, adjusted for Selvaag Bolig’s share of joint ventures, came to 159 homes worth NOK 756 million. Construction began on 174 units, 203 were completed and 243 were delivered to the buyer.

At 30 September, Selvaag Bolig had 1 510 homes under construction and 34 completed units which remained unsold.

The company began construction of 582 units in the first nine months, completed 521 and delivered 517 to the buyer. Net sales for the period came to 613 homes worth NOK 3 048 million.

Sales for the third quarter of 2018 amounted net to 182 homes worth a combined NOK 771 million and gross to 201 units worth NOK 861 million. In the first nine months of last year, they came net to 547 homes worth NOK 2 215 million and gross to 619 homes worth NOK 2 509 million.

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

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

Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: kgr@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/en

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