Børsmelding 01.07.2021

Another record-breaking quarter for Solon Eiendom and the third quarter in a row with sales exceeding NOK 1 billion

(Oslo, 1 July 2021) Solon Eiendom sold 205 units with a total sales value of NOK 1 317 million in the second quarter of 2021, compared to 120 units and NOK 810 million in sales value for the second quarter of 2020. This represents an all-time high in terms of sales value for any quarter in the company’s history, and the third consecutive quarter with over 200 units sold and NOK 1 billion in sales value. Units sold are sales contracts with customers pursuant to the Norwegian Housing Construction Act. “With slightly softer market conditions, we are even more proud of Q2 sales than the previous quarters. All-time high sale in Q2 is driven by three factors: High quality projects that attract financially solid and discerning customers, hard work from all our employees and even stronger sales focus within the organization. With the level of sales volume last three quarters, we have effectively assured that the company will deliver strong results for the foreseeable future,” says CEO Andreas Martinussen. Sales for the first half of 2021 amounted to 420 units with a total sales value of NOK 2 580 million, compared to 150 units and NOK 1 026 million in sales value for the first half of 2020. During the second quarter, Solon Eiendom completed 88 units and delivered 114 to the buyer. Due to the settlement structure of last year’s acquisition of Solon Sørvest, 63 of the delivered units are not expected to generate significant income for the company. In the first half of the year, 365 units were completed and 371 delivered to the buyer. Sales adjusted for Solon Eiendom’s share of joint ventures amounted to 160 units with a total sales value of NOK 1 039 million in the quarter, compared to 105 units and NOK 723 million in sales value for the second quarter of 2020. For the first half of 2021 sales adjusted for Solon Eiendom’s share of joint ventures amounted to 352 units with a total sales value of NOK 2 176 million, compared to 135 units and NOK 924 million for the first half of 2020. Further information: Andreas Martinussen, Chief Executive Officer, Solon Eiendom ASA Tel: +47 400 00 405, e-mail: am@soloneiendom.no About the company: Solon Eiendom ASA is a residential property developer that focuses on the Greater Oslo region, and other larger cities in Norway.
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