Selvaag Bolig ASA: Sold 276 homes for NOK 1 393 million in the second quarter

Selvaag Bolig sold 276 homes worth NOK1 393 million in the second quarter of 2019. Sales for the first half came to 546 units totalling NOK 2 712 million.

“The balance between supply and demand is good and sales have been generally stable and favourable over the quarter. We sold homes in the first half for over NOK 1 billion more than in the same period of last year,” says CEO Rolf Thorsen.

“While the market was especially good in Greater Oslo, we are well positioned in all the regions where we operate and have positive expectations for the market during the autumn. We are particularly looking forward to the launch of our first Pluss homes at Ringve in Trondheim.”

Net sales for the second quarter, adjusted for Selvaag Bolig’s share of joint ventures, came to 210 homes worth NOK 1 106 million. Construction began on 311 units, 307 were completed and 246 were delivered to the buyer.

At 30 June, Selvaag Bolig had 1 538 homes under construction and 48 completed units which remained unsold.

The company began construction of 408 units in the first half, completed 319 and delivered 274 to the buyer. Net sales for the period came to 453 homes worth NOK 2 289 million.

Sales for the second quarter of 2018 amounted net to 181 homes worth NOK 765 million and gross to 203 units worth NOK 862 million. In the first half of last year, they came net to 368 homes worth NOK 1 444 million and gross to 419 homes worth NOK 1 651 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 market, 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/english

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