Interim Report January – June 2017
– Growth in the building rights portfolio, continued strategic cooperation, successful conversion projects and an agreement to purchase Svenska Vårdfastigheter AB create conditions for increased profitability.
Interim Period April–June 2017
- • Net sales increased to SEK 790 million (434).
- • The company reported an operating profit of SEK 126 million (116).
- • Net profit for the period amounted to SEK 101 million (86). Earnings per share, after deductions for minority shares, amounted to SEK 1.64/share (1.72).
- • During the period, Magnolia Bostad agreed on the acquisition of approximately 3,075 estimated building rights (1,810) and sold 650 apartments (900).
- • Move of bond loan of SEK 500 million to the corporate
Interim Period January–June 2017
- • Net sales increased to SEK 861 million (643).
- • The company reported an operating profit of SEK 139 million (215).
- • Net profit for the period amounted to SEK 91 million (172). Earnings per share, after deductions for minority shares, amounted to SEK 1.45/share (3.74).
- • Equity amounted to SEK 995 million (906). Equity per share, after deductions for minority shares, amounted to SEK 22.50/share (20.67).
- • During the period, Magnolia Bostad acquired approximately 5,825 estimated building rights (2,755) and sold 780 apartments (1,324).
- • Magnolia Bostad’s share is being traded as of March 31, 2017 on Nasdaq First North Premier.
Significant events during the quarter
- • Signed an agreement for the acquisition of 2,250 estimated building rights in Huddinge and Nynäshamn.
- • Agreed on the acquisition of all shares in Svenska Vårdfastigheter AB, including 825 building rights, which were accesses in July 2017.
- • Acquisition agreement in Q1 in Tumba for 2,000 estimated building rights no longer conditional.
- • Sale of Senapsfabriken, phase 2, in two separate deals concerning a total of 650 apartments.
- • The framework agreement with Slättö is no longer conditional, the scope is increased to a minimum of SEK 7 billion.
Significant events after the end of the period
- • Magnolia Bostad took possession of Svenska Vårdfastigheter AB on July 4, 2017.
- • Move of a bond loan of SEK 400 million to the corporate bond list at Nasdaq Stockholm.
For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47, firstname.lastname@example.org
Fredrik Westin, CFO
+46 70 943 73 31, email@example.com
The information in this press release is such information that Magnolia Bostad AB is obliged to make public according to the European Union’s 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 set above, on July 19, 2017 at 8:00 am.
Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North Premier. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se