Interim Report January - March 2011

Continued good demand in JM’s main markets

- Revenues amounted to SEK 2,547m (1,708), including an impact on revenue of SEK 56m (-205) due to restate¬ment according to IFRIC 15. Revenue according to segment reporting shows an increase of SEK 578m (-206)

- The number of residential units sold increased to 840 (757) and housing starts increased to 908 (749)

- Profit before tax improved to SEK 265m (93) including an impact on revenue of SEK 1m (-29) due to restatement according to IFRIC 15. Profit after tax improved to SEK 187m (63). The operating margin increased to 11.0 percent (7.1)

- Return on equity for the past twelve months increased to 18.5 percent (10.8). Earnings per share during the first quarter amounted to SEK 2.20 (0.80)

- Consolidated cash flow including net investment in properties was SEK -65m (-88).

For additional information, please contact:
Johan Skoglund, President and CEO: +46 (0)8 - 782 89 39
Claes Magnus Åkesson, CFO: +46 (0)8 - 782 89 71

JM is one of the leading developers of housing and residential areas in the Nordic region.  Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 10 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.

About Us

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.

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