Veidekke ASA: Sold homes for NOK 1.4 billion in Q2
Veidekke sold 275 residential units during the second quarter of 2019. Activities are evenly distributed between Norway and Sweden. Overall, Veidekke has sold homes for NOK 1.4 billion during the second quarter of 2019. The number of residential units under production is 2,798.
Veidekke sold 275 residential units during the second quarter of 2019. In comparison, 215 homes were sold in Q2 2018 and 404 homes in Q1 2019. The sales rate in Sweden has picked up somewhat in recent quarters. In Norway sales are stable. The value of the residential units sold in the quarter was NOK 1,4 billion, of which Veidekke’s share was NOK 1 billion.
“The second quarter was characterised by good interest and sales in all of our focus areas, and the positive trend we have seen in Sweden in recent quarters looks to continue,” says EVP Jørgen Wiese Porsmyr. “The sales ratio of the portfolio remains stable, and in our overall portfolio the number of units under production remains high. There are many projects with a high sales ratio that are approaching completion in Sweden, and this may result in a lower sales ratio and fewer units in production in the time ahead.”
The number of units under construction is increasing compared to the end of 2018 and is currently at 2,798 units, of which Veidekke’s share is 2,174 units. The sales ratio for units under construction is 82%.
Residential unit sales figures for Veidekke as at the second quarter of 2019:
|Second quarter 2019 (2018)||12 months rotating sales|
|Norway||120 (140)||75 (96)||612|
|Sweden||155 (75)||131 (67)||423|
|Total||275 (215)||206 (163)||1,035|
Gross and 12 months rotating sales = Number of sales including joint venture projects
Net = Veidekke's share of sales
Photo: Construction start in Q2 for Sølyst, Stavanger, with 57 residential units
For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
- Audun Blegen, Director of Business Development at Veidekke Eiendom, tel. +47 959 79 664, firstname.lastname@example.org
- Jørgen Michelet, SVP Finance Veidekke ASA, tel. +47 917 43 856, email@example.com
Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is NOK 36 billion, and half of its 8,600 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.