Year-End Report January – December 2017
– Magnolia Bostad closes 2017 with its strongest quarter ever. More good news is that during the fourth quarter we completed our first transactions in Hotel and Residential Care.
Reporting period October - December 2017
- Net sales amounted to SEK 718 million (124).
- The company reported an operating profit of SEK 230 million (41).
- Net profit for the period amounted to SEK 198 million (14). Earnings per share, after deductions for minority shares, amounted to SEK 4.26 per share (0.26).
- Magnolia Bostad agreed during the period on the acquisition of 1,676 estimated building rights (4,870) and the number of apartments sold during the period amounted to 1,223 (0).
- The Extraordinary General Meeting on October 13, 2017, resolved to approve the introduction of a new minority ownership structure with Fredrik Lidjan AB.
- The Board of Directors is proposing a dividend of SEK 1.75 per share (1.75).
Financial Year January–December 2017
- Net sales increased to SEK 1,772 million (1,010).
- The company reported an operating profit of SEK 375 million (355).
- Net profit for the period amounted to SEK 267 million (265). Earnings per share, after deductions for minority shares, amounted to SEK 5.16 per share (5.87).
- Equity amounted to SEK 1,171 million (998).
- Equity per share, after deductions for minority shares, amounted to SEK 26.20/share (22.79).
- Magnolia Bostad agreed during the period on the acquisition of approximately 7,501 estimated building rights (9,190), and the number of sold apartments during the period amounted to 2,227
- Magnolia Bostad’s share is being traded since March 31, 2017 on Nasdaq First North Premier.
Significant events during the quarter
- Sale of 427 apartments and commercial premises in Hyllie, Malmö.
- The sale of 236 apartments in phase 2 of Fyren is no longer conditional.
- Completed two hotel transactions, one in Lund for 260 rooms and one in Halmstad for 240 rooms.
- Received land allocations for the development of residential care facilities in Motala, assisted living facilities in Ystad and four development projects in the City of Stockholm totaling 355 apartments.
- The management team expanded with the addition of the position, Head of Business Development.
- Partnership agreements were signed with contractor Consto for the production of 2,000 apartments.
Significant events after the end of the period
No significant events have occurred after the end of the period.
For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47, email@example.com
Fredrik Westin, CFO
+46 70 943 73 31, firstname.lastname@example.org
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 February 22, 2018 at 07:45 am.
Magnolia Bostad 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