Release details

2018-05-16 08:00 CEST
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Solon Eiendom ASA : Q1 2018 - Record results

 

Solon Eiendom's revenues (IFRS) increased to NOK 489 million in Q1 2018 compared to NOK 225 million in Q1 2017. EBITDA (IFRS) increased to NOK 117 million, compared to NOK 33 million in Q1 2017.

"Q1 2018 has been a very strong quarter for Solon Eiendom with three successful sales starts. In addition, we have doubled our revenues and more than tripled EBITDA compared to the same quarter last year," says CEO Andreas Martinussen.

Highlights for Q1 2018 (Q1 2017 in brackets)

- NGAAP: Operating revenues of NOK 366 million (NOK 170 million), EBITDA of NOK 83 million (NOK 26 million)

- IFRS: Operating revenues of NOK 489 million (NOK 225 million), EBITDA of NOK 117 million (NOK 33 million)

- 189 (236) homes under construction at the end of the quarter, of which 89 % (87 %) were sold for a total sales value of NOK 1,343 million (NOK 1,222 million)

- 95 % of homes to be completed in 2018 have already been sold

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

Further information
Andreas Martinussen
Chief Executive Officer, Solon Eiendom ASA
E-mail: am@soloneiendom.no Cell Phone: +47 400 00 405

Scott Danielsen
Chief Financial Officer, Solon Eiendom ASA
E-mail: sd@soloneiendom.no Cell Phone: +47 952 55 620

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

HUG#2192818