Selvaag Bolig ASA (0Q92) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the second quarter's presentation of the results for Selvåg Bolig. My name is Sverre Måhlvik, I am the Director of Management. Together with Christoffer Brunvold, who is the CEO, I will go through today's agenda. We start by looking at some highlights from the quarter to the half of the year, and then we take the operational, we also look at the financial, then we take the market and some future prospects and Q&A at the end. The second quarter was actually a satisfactory result, given that we only delivered 40 units, which is actually very good. We are very pleased with that. This is due to the fact that we have a good cost control, both when it comes to overhead costs and not least project building costs in general. In the first half of the year, we sold more than 2 billion houses. The first quarter was strong, the second quarter calmer, but still good sales, year-to-date, in relation to the market in general, with the lack of leverances from the Norwegian Bank in relation to the promise of a cut in interest in March, The political unrest in general has caused the second quarter to start slowly, but we have sold 106 units, which is always good in relation to the market. We have also sold a lot of our unsold finished goods warehouse in relation to a year ago. We have sold about 400 million of that. The good sales have meant that we have managed to start building much more than we have done in the quarter. We have completed very few units and started building more than 170 units, so we now have an order reserve of 8.2 billion, which is strong in relation to the market, and will ensure results in a few years at least. We have bought tomatoes, about 800 units in our hand in the quarter in the Storoslo area. And we have decided, or the board h...