Veidekke ASA: Good home sales - extremely high sales ratio
Veidekke sold a total of 317 homes during the third quarter of 2016. Home sales remain high both in Norway and Sweden, and the sales ratio for homes in production came in at 91%.
Veidekke's activity in housing development is high in both Norway and Sweden at the end of Q3 2016. In the quarter a total 317 homes were sold at a value of NOK 1.5 billion. In comparison, 554 homes were sold in the last quarter. Overall Veidekke has sold homes for NOK 6.3 billion so far in 2016, where Veidekke's share is NOK 4.8 billion.
"It's satisfying that we manage to maintain high home sales in our key markets. In Sweden activities remain at a high level in Gothenburg and Greater Stockholm, while in Norway the greatest activity is in Oslo and Trondheim," says CEO and President Arne Giske.
The number of homes under construction at the end of Q3 is 2,837, of which Veidekke's share is 2,140. The corresponding figure at the same time in 2015 was 2,289, where Veidekke's share was 1,684. The overall sales ratio for projects under construction is 91 %. The overall sales value in the quarter was NOK 1.5 billion, of which Veidekke's share was NOK 900 million.
"The record-breaking sales ratio for our projects under construction shows that demand is strong - but at the same time it indicates that we are low on stock. An important task now is to quickly move more projects into the sale stage to meet the great demand," Giske says.
| Home sales | Q1 gross (3) 2016 (2015) | Veidekke's share of sales in Q2 net (3) 2016 (2015) |
| Norway | 165 (118) | 84 (59) |
| Sweden | 152 (210) | 135 (210) |
| Total | 317 (328) | 219 (269) |
- Number of sales including jointly owned projects
- Veidekke's share of sales
For more information, please contact:
Director of Business Development at Veidekke Eiendom, Audun Blegen, tel. +47 959 79 664, audun.blegen@veidekke.no
CFO Jørgen Michelet, tel. +47 917 43 856, jorgen.michelet@veidekke.no
Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel. The company is characterised by involvement and local knowledge. Revenue is NOK 24.5 billion (2015), and half of the 6,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.