Reuters logo
UPDATE 1-Selvaag Bolig Q4 adjusted EBITDA rises, outlook strong
February 15, 2017 / 8:35 AM / 10 months ago

UPDATE 1-Selvaag Bolig Q4 adjusted EBITDA rises, outlook strong

(Adds quotes from CEO at presentation, detail)

Feb 15 (Reuters) - Selvaag Bolig ASA:

* Q4 operating revenue (IFRS) 886 million Norwegian crowns ($105.57 million) versus 882 million crowns year ago

* Q4 adjusted EBITDA (IFRS) 170 million crowns versus 133 million crowns year ago

* Board proposes a dividend of 0.95 crowns per share for second half of 2016

* Sees a very good outlook for profits, expects strong margins also going forward

* Says 98 percent of the homes being completed in 2017 and 87 percent of those scheduled for completion next year are already sold

* CEO Baard Schumann says: “Sales will be good also this year, but it will be tough to be able to reach the same levels. Even though we could end up selling somewhat fewer houses, it does not mean that revenues necessarily will do down, because prices are higher.”

* Expects strong growth in housing prices in Oslo to continue due to supply shortage

* Has not yet seen any effects of tightening of mortgage regulations, but expects it to have a slowing effect eventually Source text for Eikon: Further company coverage: ($1 = 8.3928 Norwegian crowns) (Gdynia and Oslo newsrooms)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below