Magnolia Bostad reports the third quarter 2015
Magnolia Bostad reports an operating profit of SEK 61.6 (0.0) million for the third quarter 2015. Profit after tax was SEK 51.8 (–6.4) million.
- Strong sales and high recruitment of staff characterized this quarter, says Fredrik Lidjan, CEO of Magnolia Bostad. We have now established the platform we need for the company's future expansion and to achieve our financial goals.
Significant events during the quarter:
- Magnolia Bostad acquires the Nacka Orminge 52:1 property (Hantverkshuset) from Carnifex AB.
- Magnolia Bostad initiates sales for the Valsta Torg project, which consists of 42 tenant-owned apartments next to Valsta Centrum in Sigtuna Municipality.
- Magnolia Bostad acquires a plot of land at Kanikenäsholmen in southeast Karlstad. The Company is planning to build around 300 residential units on the site. The seller is Karlstadhus AB. The Company also signed an agreement for the sale of around 200 of these units, which will become rental apartments.
- Magnolia Bostad employs Clas Hjorth to head its hotel development. The Company and Clas Hjorth are also establishing a jointly owned hotel development company.
- Magnolia Bostad employs seven staff members. The reinforcements will strengthen the Company’s production organization and increase its presence in southern Sweden through the establishment of a local office in Helsingborg.
The full report (in Swedish) is available at: www.magnoliabostad.se/investorrelations/
The English report will be available for download November 30, 2015.
For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47
Erik Rune, CFO
+46 73-399 40 30
Magnolia Bostad was founded in 2009 with the vision of creating modern homes and residential environments through smart functions and attractive architecture. The company develops new housing, both rental apartments and tenant-owned apartments, mainly in attractive locations in Sweden’s larger cities and regional capitals. We operate with a holistic view that aims to achieve long-term sustainable development for the society at large.
Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is engaged as the Certified Adviser for the Company.
More information about Magnolia Bostad can be found at www.magnoliabostad.se