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Press Release

SOLON EIENDOM ASA - Strong results and sales in first half 2018


Posted on: 22 Aug 18

Solon Eiendom ASA – Revenue increase of 36 % in the first half of 2018 compared to first half 2017. Total EBITDA (NGAAP) of NOK 156 million in the first half of 2018.

(Oslo, Norway, 22 August 2018) Solon Eiendom ASA (OSE:SOLON) will present the Q2 2018 report at 11.00 am CET at the company’s office, Olav Vs gate 5, Oslo.

Key financials first half 2018 (first half 2017 in parenthesis):

  • Total sales value NOK 1 559 (1 092) million
  • Total revenue (NGAAP) of NOK 717 (527) million
  • Total EBITDA (NGAAP) of NOK 156 (101) million

Key financials Q2 2018 (Q2 2017 in parenthesis):

  • Total sales value of NOK 740 (685) million
  • Total revenue (NGAAP) of NOK 351 (357) million
  • Total EBITDA (NGAAP) of NOK 73 (75) million
  • Project margin (including finance) of 25 % (22 %)
  • 218 (257) units under construction at June 30, with 89 % (88 %) of these sold
  • 96 % (99 %) of remaining expected completions in 2018 are sold

The quarterly presentation materials is enclosed and will be available on the company's web site, www.soloneiendom.no and www.newsweb.no.

For further information, please contact:
Andreas Martinussen, Chief Executive Officer, Solon Eiendom ASA
Telephone:     +47 400 00 405, email:  am@soloneiendom.no

Scott Danielsen, Chief Financial Officer, Solon Eiendom ASA
Telephone:     +47 952 55 620, email:  sd@soloneiendom.no

About Solon Eiendom ASA
Solon Eiendom is a Norwegian residential real estate development company focusing on the Oslo and Akershus region.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachments

GlobeNewswire
globenewswire.com

Last updated on: 22/08/2018

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