Interim report January – March 2013

DEMAND IN STOCKHOLM CONTINUES TO IMPROVE

  • According to segment reporting revenues decreased to SEK 2,875m (3,188) and the operating profit was SEK 335m (337). The operating margin increased to 11.7 percent (10.6)
     
  • Restated according to IFRIC 15 revenue decreased to SEK 2,698m (2,987) and the operating profit decreased to SEK 288m (329) with a limited number of completed projects in JM
    Norway during the quarter
     
  • Profit before tax decreased to SEK 273m (316). Profit after tax decreased to SEK 208m (227)
     
  • Return on equity for the past twelve months amounted to 20.9 percent (21.9). Earnings per share for the first quarter amounted to SEK 2.60 (2.70)
     
  • Consolidated cash flow including net investment in properties decreased to SEK –309m (2) with major investments in development properties in JM Residential Stockholm
     
  • Number of residential units sold increased to 709 (627). Housing starts decreased to 574 (631).

   
For further information, please contact:

Claes Magnus Åkesson, CFO, Head of IR, +46 8 782 89 71
Johan Skoglund, President and CEO, +46 8 782 87 00

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.