Veidekke ASA: Strong sales and high production of homes in Q4
Veidekke sold a total of 456 residential units during the fourth quarter of 2015. This is an increase from 328 in the third quarter of 2015. The number of units under construction is 2,381. Overall, Veidekke has sold homes for NOK 6.5 billion in 2015.
Veidekke's housing development activity at the end of the fourth quarter of 2015 is high in both Norway and Sweden, with increased sales and a greater number of units being produced. Veidekke has sold 456 residential units at a value of NOK 1.5 billion in the quarter, of which Veidekke's share is NOK 1.1 billion. Overall, Veidekke has sold homes for NOK 6.5 billion in 2015. Veidekke's share is NOK 4.8 billion.
In Sweden demand for our homes is very high, which is reflected in a sales ratio of 99%. Most of our projects are currently located in the Stockholm area and Gothenburg. In Norway we have seen an increase in sales, particularly in the Oslo area and in Trondheim, with a sales ratio of 69% for units under construction.
- "2015 was a good housing year for Veidekke with record sales in Sweden and a good increase in sales in Norway. In both Norway and Sweden we presented a number of good projects that were well-received by the market. We can conclude that 2015 was a significantly better year for residential sales than we expected," says CEO and President Arne Giske.
The number of units under construction is 2,381, with Veidekke's share being 1,734. The corresponding figure for the third quarter of 2015 was 2,289, where Veidekke's share was 1,680. The overall sales ratio for projects under construction is 89 %.
Home sales figures for Veidekke as at Q4 2015:
| Home sales | Q4 gross (1) 2015 (2014) | Q4 net (2) 2015 (2014) | Total gross (1) 2015 (2014) | Total net 2015 (2) (2014) |
| Norway | 217 (130) | 113 (59) | 794 (438) | 403 (246) |
| Sweden | 239 (106) | 239 (105) | 1,010 (536) | 1,009 (524) |
| Total | 456 (236) | 352 (164) | 1,804 (1 410) | 1,403 (770) |
- 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 billion (2014), and half of the 7,000 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.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.