CHR Bygga Bostäder Holding AB (publ)Interim Report January-Mars 2019

1stQUARTER 2019  

Numbers compared to januarymars2018

  • Net sales declined to MSEK 18(96)
  • Operating profit amounted to MSEK -48(1)
  • Profit after tax amounted to MSEK -50(-4)
  • Equity amounted to MSEK 17(182)
  • Cash and cash equivalents at the end of the period were MSEK 2(38)
  • Number of units started in production 0 (0)
  • Number of units in production 128(309)
  • Number of completed units 45(48)

SIGNIFICANT EVENTS JANUARI-MARS 2019  

  • An extraordinary shareholders meeting and first control meeting (kontroll stämma) in CHR Bygga Bostäder Entreprenad AB and CHR Bygga Bostäder Holding AB (publ) was convened on 21st January 2019. The meeting passed a resolution in line with the proposal of the Board of Directors to the effect that the companies are not to be liquidated, but to continue trading. This leads to a requirement to hold a second control meeting of shareholders within eight months.
  • A meeting of shareholders in CHR Bygga Bostäder Entreprenad AB and CHR Bygga Bostäder Holding AB (publ) was announced for 1st March 2019. The meeting passed a resolution in line with the proposal of the Board of Directors to effect changes to the Articles of Association, issuance of new preference shares, borrowing with profit sharing terms, new equity issue directed to lenders and a rights issue. More information is published on the web site https://www.byggabostader.se/.
  • CHR Bygga Bostäder Holding AB (publ) instructed the Bond Agent, Intertrust AB to initiate a written procedure to investors in the Bond Issue for approval of changes to the terms of the Bond. The voting was concluded on February 26 2019 with the result that all votes cast were in favor of accepting the changes of the proposed changes of the terms of the Bond Issue. More information is available on the company web site https://www.byggabostader.se/.
  • 45 new homes in Nyköping were completed during the first quarter.
  • The amount of the long-term financing of our project Brandholmen i Nyköping was reduced due to revised conditions by the mortgage lender. The reduced financing has a negative effect on the liquidity and P&L of the group during the first quarter 2019.
  • Bertil Rydevik took up the position as acting Chief Executive Officer (CEO) in January due the sick leave of Jonas Åkerman.
  • Jesper Widfeldt has given notice and will resign the position of Chief Financial Officer of the group to take up a position at a property management company. 

SIGNIFICANT EVENTS AFTER THE REPORT PERIOD  

  • Bostadsbolaget Brandholmen 5 AB was sold in April 2019. The transaction provided additional liquidity of 8,7 MSEK and had a negative effect on the P&L of 2,7 MSEK. The company owns a plot of land for development in proximity of project BRF Brandholmen 1-4.

This information is information provided by CHR Bygga Bostäder Holding AB (publ) under the EU Market Abuse Regulation. The information was provided by the contact person below for publication on may 31 2019 Kl 16:00.

For further information, please contact:

Bertil Rydevik, acting CEO

+46 763 145 985

bertil.rydevik@byggabostader.se  


About Us

Bygga Bostäder develops, sells and produces condominiums in the form of high quality apartments in standard row houses, tower blocks (punkthus) and villas. Bygga Bostäder has a unique position as a niche player in small and medium-sized Swedish cities with a strong housing demand. With access to a separate construction organization, Bygga Bostäder can control the entire project process from land planning to final inspection, which results in efficient processes and lower construction risk.

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