Selvaag Bolig ASA - Record year for Selvaag Bolig
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Selvaag Bolig ASA sold 1 044 homes during 2016 with a total value of NOK 4.36 billion and an average price per unit of NOK 4.2 million. The number sold, turnover and average value were all the highest in the company's history.
"We've had a fantastic year. Sales have been very good throughout and we have sold well in all our projects. The market outlook is positive, and we'll have many new homes ready for sale in the first and second quarters of 2017," comments CEO Baard Schumann.
Selvaag Bolig began construction of 902 units during the year, completed 836 and delivered 869 to the buyer. Gross sales, including all sales in joint venture projects, came to 1 182 homes.
"Since sales aren't recognised as income until the completed home has been delivered to the buyer, this will give us very good future revenues," says Schumann. The company sold 161 residential units with an overall value of NOK 764 million during the fourth quarter of 2016. It started the building of 196 homes during this period, completed 255 and delivered 254.
At 31 December, Selvaag Bolig had 1 356 homes under construction and 43 completed units which remained unsold. Gross sales for the quarter came to 182 homes.
A total of 935 homes with an overall value of NOK 3 214 billion and an average value of NOK 3,4 million were sold by the company in 2015, while its sales for the fourth quarter of that year came to 209 units worth an overall NOK 751 million.
Further information from Baard Schumann, CEO, Selvaag Bolig ASA Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no
Sverre Molvik, CFO, Selvaag Bolig ASA Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no
Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 60-year history and experience, and offers a broad variety of property types marketed under the brand names Start, Hjem and Pluss. The company is headquartered at Ullern in Oslo.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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