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Regulatory press release

Magnolia Bostad AB: Year-End Report January - December 2019

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We had 2,678 production starts of residential units in 2019, which is well in line with our target

January - December 2019
  • Net sales amounted to SEK 751 m (1,054).
  • The operating profit was SEK 380 m (164), of which SEK 348 m (67) refers to changes in the value of investment properties.
  • The net profit before tax for the period was SEK 208 m (22) and the profit after tax was SEK 171 m (7).
  • Earnings per share after deductions for minority shares was SEK 3.75 per share (0.26).
  • The Board's proposal for a dividend for 2019 will be announced at the latest in the notice to the AGM.
October - December 2019
  • Net sales amounted to SEK 258 m (42).
  • The operating profit was SEK 35 m (-33), of which SEK -4 m (67) refers to changes in the value of investment properties.
  • The net profit before tax for the period was SEK -8 m (-71) and the profit after tax was SEK 11 m (86).
  • Earnings per share after deductions for minority shares was SEK 0.13 per share (-2.12).
 Significant events October - December 2019
  • Conditional agreement signed on acquisition of land in Tullholmsviken, Karlstad of about 25,500 m2 GFA.
  • Joint venture company (JV) is formed with Slättö and conditional sales agreement is signed by the JV for four projects initially. The JV will initially comprise five projects covering up to 800 residential units.
  • A property in Nya Hovås, Göteborg, acquired for the development of about 180 residential units.
  • JV partners are bought out from an existing project in Partille for the development of approximately 200 residential units.
  • Production start of four projects with a total of around 1,350 residential units within the framework agreement with Heimstaden, which was signed in June 2018, of which the project Ferdinand in Spånga comprising 221 units is sold
Significant events after the end of the quarter
  • Start of zoning plan work for the project Vårby Udde, Huddinge Municipality, comprising development of around 1,800 residential units.

To make understanding the degree of maturity in Magnolia Bostad's project portfolio easier, we will, with effect from the Year-End Report for 2019, provide information about where in the zoning plan process different projects are. This replaces previous information about estimated production starts per project.

Total estimated production starts will be shown in a rolling 12-month chart for the next three years. In addition, estimated completion will only be shown as a total too, in a rolling 12-month chart for the next three years.

 

For more information, please contact:
Fredrik Lidjan, CEO
fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se
Tel. +46 72 720 00 06

The information Magnolia Bostad publishes in this report is required in accordance with the EU Market Abuse Regulation (EU) No 596/2014 and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons, on 20 February 2020 at. 08.00 a.m. CET.

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