Veidekke sold homes for NOK 1.1 billion

Veidekke sold homes for NOK 1.1 billion

07.10.2019 - 07:00

Veidekke sold 231 residential units in the third quarter of 2019. Activities are evenly distributed between Norway and Sweden. Overall, Veidekke’s sales of residential units amounted to NOK 1.1 billion during the third quarter of 2019. The number of units in production is 2,819.

Veidekke sold 231 residential units in the third quarter of 2019. In comparison, 193 homes were sold during the third quarter of 2018 and 275 homes during the second quarter of 2019. Sales in both Norway and Sweden have remained steady in comparison with the second quarter. The value of the residential units sold during the quarter was NOK 1.1 billion, of which Veidekke’s share was NOK 830 million.

“The strongest market at present is in Oslo, while other markets remain stable,” says Jørgen Wiese Porsmyr, Executive Vice President in Veidekke. “The sales ratio of the portfolio remains at the same level as previous quarters, and in our overall portfolio the number of units under production remains high. During this quarter, we commenced the construction of Middelthunet in Oslo, a project that has sold well and is our biggest launch ever.”

The number of homes under construction is currently 2,819, of which Veidekke’s share is 2,078. The sales ratio for units under construction is 79%.

Home sales figures for Veidekke as at the second quarter of 2019:

Third quarter 2019 (2018) 12 months rotating sales 1)
Gross 1) Net 2)
Norway 112 (115) 68 (73) 609
Sweden 119 (81) 104 (79) 461
Total 231 (193) 172 (152) 1070

1) Number of sales including joint venture projects
2) Veidekke's share of sales

For more information, please contact:

Audun Blegen, Director of Business Development at Veidekke Eiendom, tel. +47 959 79 664, audun.blegen@veidekke.no
J
ørgen Michelet, SVP Finance Veidekke ASA, 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 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.