Selvaag Bolig ASA: Q1 2023: Better sales in the first quarter

03 Apr 2023 07:00 CEST

Selvaag Bolig sold 152 homes worth NOK 874 million in the first quarter.

"The market was significantly better in the first quarter than at the end of
last year. It is still not back to normal, but interest in our projects has
been good, and sales have been decent," says CEO Sverre Molvik.

"The challenging market conditions in the second half of 2022 led to fewer
construction starts in the first quarter. However, we have had several
successful sales starts now, which may result in more construction starts in
the future."

Net sales for the quarter, adjusted for Selvaag Bolig's share of joint
ventures, came to 116 homes worth NOK 658 million in all. Construction began
on 5 homes, 161 were completed and 150 were delivered to the buyer.

At 31 March, Selvaag Bolig had 1 097 homes under construction and 37 completed
units which remained unsold.

Sales for the corresponding quarter of 2022 amounted net to 201 homes worth a
combined NOK 1 033 million and gross to 271 units with an overall value of NOK
1 401 million.

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About Us
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, Trondheim and Stockholm.
Selvaag Bolig represents a continuation of Selvaag's 70-year history and
experience, and offers a broad variety of property types. The company is
headquartered at Ullern in Oslo.
www.selvaagboligasa.no/en

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This release was distributed by Kristoffer Gregersen, EVP communications and
sustainability, Selvaag Bolig ASA.

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For further information:
Sverre Molvik, CEO
Telephone: +47 40 10 05 85, e-mail: smo@selvaagbolig.no

Christopher Brunvoll, CFO
Telephone: +47 98 82 92 22, e-mail: chbr@selvaagbolig.no
(mailto:chrb@selvaagbolig.no)

Kristoffer Gregersen, EVP communications, sustainability and corporate
strategy,
Telephone: +47 95 77 55 93, e-mail: kgr@selvaagbolig.no

More information:
Access the news on Oslo Bors NewsWeb site

586974_Selvaag Bolig ASA- Q1 2023- Better sales in the first quarter.pdf