Interim report January - March 2018

After a record-breaking end to 2017 Magnolia Bostad started 2018 with another strong quarter. For the period January to March the company report an operating profit of SEK 113 million and profit after tax of SEK 80 million.

Interim Period January-March 2018

• Net sales amounted to SEK 532 million (77).
• The company reported an operating profit of SEK 113 million (20).
• Net profit for the period amounted to SEK 80 million (-3).
• Earnings per share, after deductions for minority shares, amounted to SEK 2.14 per share (-0.05).
• Magnolia Bostad agreed during the period on the acquisition of 26 estimated building rights (700), and the number of residential units sold during the period amounted to 333 (130).

Significant events during the quarter

• Entered into a cooperation agreement with Skanska with the aim of launching the method of the future for developing new neighborhoods.
• Sold 58 residential care units in Visby, Gotland, and 275 rental apartments in the Fasanen project in Arlöv, Burlöv Municipality.
• Sold the Instrumentet 2 property in Örnsberg, Stockholm, with a leasable area of around 6,000 sqm.
• Issued SEK 200 million under the framework of an existing bond loan.
• Formed a joint venture with Randviken for the Skogskarlen 3 property in Bergshamra, Stockholm, in which Randviken indirectly acquires half of the shares in the company.

Significant events after the end of the period

• No significant events occurred after the end of the period.

For more information, please contact:

Fredrik Lidjan, CEO
+46 702 23 43 47, fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO
+46 709 43 73 31, fredrik.westin@magnoliabostad.se

Information Magnolia Bostad publishes in this press release is required in accordance with the EU Market Abuse Regulation (EU) No. 596/2014. The information was submitted for publication through the agency of the contact persons set above on April 27, 2018, at 7:45 a.m. CEST. 

Magnolia Bostad AB (publ), CIN 556797-7078 develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing, hotels and student housing, in attractive locations in Sweden’s growth areas and major cities. 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 

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