Veidekke ASA: Sold homes for NOK 2.5 billion in Q1

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Veidekke sold 404 residential units in the first quarter of 2019, which is twice as many as in the fourth quarter of 2018. The sales boost is driven by projects in Norway. Overall, Veidekke has sold homes for NOK 2.5 billion in Q1 2019. The number of units under construction is 2,808.

Veidekke sold 404 residential units in the first quarter of 2019. In comparison, 152 homes were sold in Q1 2018 and 200 homes in Q4. Sales have been stable in Sweden, while they have increased in Norway. The value of the residential units sold was NOK 2,5 billion, and Veidekke’s share was NOK 1,6 billion.  

“Residential sales in the quarter are good, with strong sales at Middelthunet at Majorstuen in Oslo and consistently good sales in Oslo, Trondheim and Stavanger. In Sweden sales remain stable after an increase in Q4. We perceive good interest in new homes and are working hard to close every sale. The number of units under construction in our overall portfolio remains at a high level,” says Executive Vice President Jørgen Wiese Porsmyr. 

The number of residential units under construction has increased from the end of 2018, and is currently 2,808 units, of which Veidekke’s share is 2,232 units. The sales ratio for units under construction is 81%.  

Residential unit sales figures for Veidekke as at Q1 2019: 

First quarter 2019 (2018)  12 months rotating sales (1) 
Gross 1)  Net 2)
Norway  288 (93)  162 (67)  632 
Sweden  116 (59)  112 (56)  343 
Total  404 (152)  274 (123)  975 

1)      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, 

SVP Finance Jørgen Michelet, tel. +47 917 43 856, 

Veidekke is one of Scandinavia’s largest construction and property development companies. The company undertakes all types of building and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is around NOK 36 billion, and half of the 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.