Veidekke sold residential units valued at NOK 6.3 billion in 2019

Veidekke sold 256 residential units in the 4th quarter. Total sales for 2019 encompassed 1,155 residential units with a total value of NOK 6.3 billion.  There were 2,215 units under construction at the end of 2019, and the sales ratio was 78%.

Veidekke sold 256 residential units during the 4th quarter of 2019, of which 154 units were sold in Sweden and 102 units in Norway. Residential sales increased compared with the 3rd quarter, and this increase was in Sweden. Across the year as a whole, Veidekke sold 1,155 residential units, which represents an increase of 305 units compared with the year before.

‘During 2019, we noted a solid increase in sales against the previous year in both Norway and Sweden. In Norway, we have enjoyed success on several projects in both Oslo and Trondheim. The positive developments we have experienced in Sweden are also gratifying, even if it will take time before increased sales yield a positive impact on the number of residential units under construction,’ says Executive Vice President Jørgen Wiese Porsmyr. During the 1st quarter of 2020, a new stage of sales will begin at Middelthunet (94 units), while the first stages at Løren Botaniske (70 units) in Oslo and the wooden house project Cederhusen i Hagastaden in Stockholm (60 units) will also launch. These will all be important contributing factors to activities over the course of the year, according to Porsmyr.

The value of the sold residential units was NOK 1.3 billion during the 4th quarter, of which Veidekke’s share was NOK 978 million. For the full year, residential units valued at NOK 6.3 billion were sold, and Veidekke's share was NOK 4.3 billion.

The number of residential units currently under construction is 2,215 at year-end, of which Veidekke’s share is 1,732 units. The sales ratio for units under construction is 78%.

Residential sales figures for Veidekke as at the fourth quarter of 2019:

  Fourth quarter of 2019 (2018) 2019 (2018) 12 months rotating sales 1
  Gross1 Net2 Gross1 Net2  
Norway 91 (89) 72 (52) 611 (437) 378 (288) 611
Sweden 154 (111) 125 (109) 544 (286) 472 (271) 544
Total 245 (200) 197 (161) 1 155 (723) 850 (525) 1 155
  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

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
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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.

 

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