Selvaag Bolig ASA: Q1 2026: Record-high sales and more homes under construction

21 May 2026 07:02 CEST

Selvaag Bolig achieved record-high sales in the first quarter, with sales
exceeding NOK 2.5 billion. Several construction starts increased the order
backlog, which had a total value of NOK 7.8 billion at the end of the quarter.

In the first quarter of 2026, Selvaag Bolig sold 358 homes net, with a sales
value of NOK 2,516 million. Of these, 72 sales were booking agreements in
Sweden, with a value of NOK 684 million. The quarterly sales are the highest
in the company's history and represent more than a doubling from the first
quarter of 2025.

-- Sales in the quarter were the highest in the company's history, despite a
challenging market for new homes. Record-high sales and several successful
sales launches in Greater Oslo, Bergen and Stockholm have enabled us to start
construction of several new projects. At the end of the quarter, we had homes
under construction with a total sales value of NOK 7.8 billion, providing a
solid basis for earnings in the coming years, says CEO Sverre Molvik.

During the quarter, Selvaag Bolig started construction of 166 homes. By the
end of the quarter, the company had 1,078 homes under construction, and 65
percent of these homes were sold.

-- Although the IFRS result for the quarter is affected by few deliveries, the
NGAAP accounts show solid ongoing value creation. High activity and strong
project margins provide a solid foundation for results going forward, says
Molvik.

Selvaag Bolig has around 600 homes for sale. The company is planning several
sales launches going forward, including the first sales phase in Fornebu
Sentrum, which will be launched in June.

A webcast of the presentation can be viewed from 08:30 here
(https://qcnl.tv/p/I8GYtXr1U8E1lEbwXlXbMQ).

Key figures Q1 2026 (Q1 2025)

* Net sales* amounted to 358 homes (169) with a sales value of NOK 2,516
million (1,038), of which 72 booking agreements** for NOK 684 million
* Gross sales* amounted to 363 homes (196) with a sales value of NOK 2,563
million (1,244), of which 72 booking agreements** for NOK 684 million
* Net construction starts of 166 homes (183), no new homes completed (0), and
net deliveries of 24 homes to buyers (34)
* Net 1,078 homes under construction (1,012) with a combined sales value of
NOK 7,796 million (7,153)
* 65 percent of the homes under construction were sold at the end of the
quarter (64)
* 32 completed homes unsold at the end of the quarter (50)
* IFRS***: Operating revenues of NOK 123 million (167). EBITDA adjusted for
financial expenses NOK -17 million (-19), corresponding to a margin of -14
percent (-12)
* Proforma IFRS*** including Selvaag Bolig's share in joint ventures:
Operating revenues of NOK 188 million (194). EBITDA adjusted for financial
expenses NOK -6 million (-8), corresponding to a margin of -3 percent (-4)
* Earnings per share: NOK -0.20 (-0.22)
* NGAAP****: Operating revenues of NOK 989 million (678). EBITDA of NOK 101
million (65), corresponding to a margin of 10 percent (10)
* Proforma NGAAP**** including Selvaag Bolig's share in joint ventures:
Operating revenues of NOK 1,059 million (729). EBITDA of NOK 120 million
(72), corresponding to a margin of 11 percent (10)


* Units sold comprise sales contracts entered into with customers pursuant to
the Norwegian Housing Construction Act and the Tenant-Ownership Act
(Bostadsrättslagen) in Sweden, as well as booking agreements in Sweden. In
accordance with IFRS, they are recognised as income on delivery. Net sales
include Selvaag Bolig's share of joint venture projects. Gross sales include
all homes in joint venture projects.
**Booking agreements are used for sales of new collective flats in Sweden,
where the buyer pays a booking fee to ensure priority to a new home. Booking
agreements are non-binding, and if the buyer withdraws, part of the booking
fee will be refunded. The booking agreement is converted to a binding purchase
agreement prior to construction start.
*** Pursuant to IFRS, all profit is recognised when the homes are delivered to
the buyer. Profit pursuant to IFRS accordingly derives primarily from homes
which began to be built roughly two years ago.
**** The accounts pursuant to Norwegian generally accepted accounting
principles (NGAAP) utilise the percentage of completion method. This means
that profits are recognised on the basis of construction progress and sales in
the projects. That presents ongoing value creation in the company.

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About Us
Selvaag Bolig ASA is a residential development company that manages the entire
value chain from acquisition of land to completed residential and urban areas.
The company represents a continuation of Selvaag's 75-year history and
experience and has several thousand homes under development in growth areas in
and around the largest cities in Norway and Sweden. Selvaag Bolig offers a
broad variety of housing types, including the lifestyle concept Selvaag
Pluss®, which features homes with shared spaces and services.
www.selvaagboligasa.no/en

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This release was distributed by Line Lian Mjell, EVP marketing, strategy and
sustainability, Selvaag Bolig ASA.

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For further information:
Sverre Molvik, CEO
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

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

Line Lian Mjell, EVP marketing, strategy and sustainability
Telephone: +47 975 39 225, e-mail: limj@selvaagbolig.no

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-05-21 07:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

674071_SBO 2026 Q1 Presentation.pdf
674071_SBO 2026 Q1 Report.pdf