Veidekke ASA: Increased home sales
Veidekke sold a total of 284 homes in the second quarter of 2014. This is an
increase from 128 in Q1 2014. Housing sales are now higher in Sweden than in
Norway and there is a strong level of activity with several new projects
starting in both countries.
In Norway Veidekke's home sales (including jointly owned projects) have
increased somewhat from Q1. This is due to both the general improvements in
the residential property market, particularly in the central region of Eastern
Norway, as well as multiple sales commencing across new projects this quarter.
In Sweden Veidekke have had several successful sales and activity levels are
"We are seeing that home sales are increasing somewhat in Norway, and we have
commenced building on four new projects in the quarter. Among others, a
decision has been made to start building the project Gartnerløkka in Oslo.
This is the first stage of the development at Løren, where we will develop a
total of more than 900 homes in cooperation with OBOS. In Sweden we have for a
long period experienced a stable high activity level in all regions, and sales
were also good in Q2," says CEO and President Arne Giske.
Veidekke's property operations in Norway and Sweden sold a total of 284 homes
in Q2. The total sales value for the quarter was NOK 900 million, of which
Veidekke's share was NOK 680 million. The number of homes in production is
1,453, of which Veidekke's share is 1,079. The combined sales ratio for
projects under construction is 73 %.
Veidekke's home sales figures for Q2 2014:
Sales figures including jointly owned Veidekke's share of sales (net
projects (gross sales) sales)
Q2 2014 (2013) Q2 2014 (2013)
Norway 118 (157) 73 (106)
Sweden 166 (147) 164(113)
Total 284 (304) 237 (219)
For more information please contact:
Director of business development with Eiendom, Audun Blegen, tel. +47 959 79
SVP Finance Jørgen Michelet, tel. +47 917 43856, email@example.com
Veidekke is one of Scandinavia's leading contractors and property developers
with a turnover of NOK 21 billion (2013) and 6,300 employees. Activities
include building and construction projects, residential developments, asphalt
plants, gravel and aggregates, and road services. Our values are professional,
honest, enthusiastic and ground-breaking. Our goals for health, safety and the
environment, HSE, have equal status with our financial goals. Veidekke is
characterised by a strong corporate culture with employee involvement and
co-ownership as important cornerstones. More than half of the employees are
co-owners, holding around 20 per cent of the Group's shares between them. The
company 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.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Veidekke ASA via Globenewswire
Press spacebar to pause and continue. Press esc to stop.