Selvaag Bolig reported a strong first half of 2026, recording the highest-ever value of home sales for the period and registering year-on-year increases in operating revenue, adjusted EBITDA and earnings per share. For the six-month reporting period the company posted adjusted EBITDA of NOK 238 million and earnings per share of NOK 0.75.
The boost in sales was driven by new launches in several markets, notably Fornebu Sentrum, Bergen and Stavanger. Management attributed the performance to a combination of attractive project offerings, disciplined land acquisition practices and ongoing cost control measures that supported margin resilience.
Strong demand allowed Selvaag Bolig to commence a number of new developments during the period. The company said it currently has NOK 8.1 billion in homes under construction, a backlog the company expects will contribute to results in the coming years.
Despite the positive operational results, the board decided not to distribute an interim dividend for the half-year, pointing to a challenging market and uncertainty in the macroeconomic outlook. The company said it will assess whether to recommend a full-year dividend in February 2027, taking into account full-year results and prevailing market conditions.
Selvaag Bolig characterized the market environment as still challenging and reiterated that macroeconomic uncertainty remains an important factor in its capital allocation decisions. The withheld interim dividend reflects that caution even amid improved sales and profitability.
In summary, the first half produced record sales value and stronger profitability metrics, while management moved to secure future revenue through new starts and by maintaining financial flexibility in response to uncertain external conditions.