Interim Report January-June 2018

The second quarter of the year has been eventful. Magnolia Bostad’s shares have been listed on Nasdaq Stockholm's main list, we have started collaborating with several new partners and implemented a number of acquisitions and sales.

January-June 2018

  • Net sales amounted to SEK 798 m (869).
  • The operating profit was SEK 206 m (147).
  • Net profit for the period was SEK 139 m (99). Earnings per share, after deductions for minority shares was SEK 3.60 per share (1.63).
  • Over the period Magnolia Bostad agreed on the acquisition of 2,511 estimated building rights (5,825) and the number of residential units sold over the period was 1,045 (780).

April-Jun 2018

  • Net sales amounted to SEK 267 m (792).
  • The operating profit was SEK 93 m (128).
  • Net profit was SEK 59 m (103). Earnings per share, after deductions for minority shares, was SEK 1.45 per share (1.72).
  • Magnolia Bostad agreed on the acquisition of 2,485 estimated building rights (3,075) and the number of residential units sold over the period was 712 (650)
  • The company's shares were listed on Nasdaq Stockholm's main list on 20 June.

Significant events during the period April-June 2018

  • Framework agreement worth SEK 9.6 bn signed with Heimstaden. 
  • Sales:
    -Sold 658 residences in Bro to Slättö.
    -Sold 54 residential care units in Laholm to Northern Horizon.
    -Sold land to Derome Hus.
  • Acquisitions:
    -Planned land in Bro, Upplands Bro municipality. 1,500 residential units planned.
    -Property in Spånga, Stockholm, 200 residences planned.
    -Property in Västerhaninge, Haninge municipality, 500 residential units planned.
    -Land in Nykvarn, 285 residential units planned, to be developed through a newly formed joint venture with SBB.

Significant events after the end of the period

  • No significant events 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

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 9 July, 2018 at. 08.00 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 shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se

Tags:

Subscribe