Veidekke ASA : 2013 a good year for sales of homes
Veidekke sold a total of 909 homes in 2013. This is an increase of 9% compared
to 2012. Home sales were very good in Sweden, while in Norway there has been
somewhat of a slowdown, particularly in Q4. Activity at the turn of the year is
high in both Norway and Sweden with a lot of homes in production and a high
level of sales.
It is primarily in the Oslo area that fewer homes were sold toward the end of
2013. In addition to the general market trend, this is linked to the fact that
several of the major ongoing projects are being sold out. In Sweden growth in
home sales have been particularly strong in the Stockholm region, while we have
also seen significant improvements in Skåne.
* "Now it is Sweden that has taken the lead in home sales, and the strength of
being a company with a sound position in both Norway and Sweden is becoming
evident," says President and CEO Arne Giske.
Veidekke's property operations in Norway and Sweden sold a total of 157 homes in
Q4. The total sales value for the quarter was NOK 558 million, and Veidekke's
share was NOK 436 million. In 2013 Veidekke's projects have sold flats for NOK
3.7 billion.
The number of homes in production at the turn of the year is 1,799, of which
Veidekke's share is 1,300. The combined sales ratio for projects under
construction is 75%.
Residential sales for Veidekke are as follows as of Q4 2013:
+-----------------+----------------+---------------+-----------+---------------+
|Residential sales| Gross Q4 2013 | Net Q4 (*) |Gross total| Net total (*) |
| | (2012) | 2013 (2012) |2013 (2012)| 2013 (2012) |
+-----------------+----------------+---------------+-----------+---------------+
| Norway | 56 (112) | 35 (74) | 469 (606) | 307 (451) |
+-----------------+----------------+---------------+-----------+---------------+
| Sweden | 101 (53) | 97 (51) | 440 (225) | 387 (205) |
+-----------------+----------------+---------------+-----------+---------------+
| Total | 157 (165) | 132 (125) | 909 (831) | 694 (656) |
+-----------------+----------------+---------------+-----------+---------------+
* Veidekke's share of residential sales in collaboration projects and in our
wholly-owned projects.
For more information please contact:
Director of business development with 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 leading contractors and property developers
with a turnover of NOK 20 billion (2012) 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.
Veidekke Project Stockholm:
http://hugin.info/172/R/1752876/591116.pdf
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Source: Veidekke ASA via GlobeNewswire
[HUG#1752876]
