Veidekke ASA: Good residential sales and increased production in Q3
Veidekke sold a total of 328 homes during the third quarter of 2015. The number of units under construction is 2,289, a significant increase from 1,874 in the previous quarter.
Veidekke's activity in housing development was high in both Norway and Sweden at the end of Q2 2015. In Sweden strong sales continue in all of our focus areas in Stockholm, Gothenburg and Skåne. In Norway Veidekke's projects in Trondheim and Oslo are experiencing the best sales. Overall, 328 homes were sold in Q3. This is somewhat down compared to Q2, and is due to fewer projects being put up for sale. Overall, Veidekke has sold homes for NOK 4.56 billion in 2015. Veidekke's share is NOK 3.57 billion.
- "In Sweden we have seen good sales for several consecutive quarters, and the number of units under construction is on the increase. A high sales ratio for homes in advance sales in Sweden indicates that production will increase in Q4 too. If home sales continue at the present high level in Norway, we expect that the number of units under construction will increase here as well," says CEO and President Arne Giske.
The number of units under construction is 2,289, with Veidekke's share being 1,680. This is a significant increase from the Q2 level (1,874 units gross). The corresponding figure for the third quarter of 2014 was 1,521, where Veidekke's share was 1,196. The overall sales ratio for projects under construction is 81% (number of homes).
Home sales figures for Veidekke as at Q3 2015:
| Home sales | Q1 gross (3) 2015 (2014) | Q3 net (2) 2015 (2014) |
| Norway | 118 (122) | 59 (72) |
| Sweden | 210 (204) | 210 (199) |
| Total | 328 (326) | 269 (271) |
- Number of sales including joint venture 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 and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 24 billion (2014), 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.