Veidekke sold residential units at a value of NOK 5.7 billion in 2017
Veidekke sold 1,215 residential units in 2017, of which 210 were sold in Q4. The number of units in production was 3,173 and the sales ratio was 83% at year-end. Overall, Veidekke sold residential units at a value of NOK 5.7 billion in 2017
Veidekke sold 210 residential units in Q4 2017, which is on a par with Q3. The number of units in production increased somewhat compared to year-end 2016, and there were 3,173 units in production at year-end 2017, of which Veidekke's share was 2,505. The sales ratio for units in production was 83%.
"Residential sales are on a par with Q3, but significantly lower than what we experienced before the summer of 2017. We are seeing that the period from the start of sales and until the project achieves a sales ratio of 50% that allows us to start construction has normalized and is longer than one year ago. The number of units in production remains high," says President and CEO Arne Giske.
In the fourth quarter Veidekke sold residential units at a value of NOK 960 million, of which Veidekke's share was NOK 810 million. For the year as a whole sales totalled NOK 5.7 billion, of which Veidekke's share was NOK 4.3 billion.
Residential unit sales figures for Veidekke as at Q4 2017:
| Fourth quarter 2017 (2016) | 2017 (2016) | 12-months rolling sales (1) | |||
| Gross1 | Net2 | Gross1 | Net2 | ||
| Norway | 124 (169) | 99 (83) | 493 (806) | 304 (433) | 493 |
| Sweden | 86 (241) | 79 (206) | 722 (989) | 645 (889) | 722 |
| Total | 210 (410) | 178 (289) | 1,215 (1,795) | 949 (1,322) | 1,215 |
1. Number of sales including joint venture projects.
2. 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
SVP Finance 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 civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 30 billion, and around half of the 7,400 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.