Half-Year Report January – June 2022
In March 2021, Holmströmgruppen carried out a restructuring of the Group. Through combining companies with residential and community service properties and shareholdings in Magnolia Bostad and Vincero Fastigheter, a new sub-group was created under a new parent company, Holmström Fastigheter Holding AB (publ), (“Holmström Fastigheter”).
January – June 2022
- Rental income amounted to SEK 32 m (29).
- Net operating income was SEK 16 m (18).
- Operating losses from associated companies was SEK -46 m (-51).
- Changes in the value of investment properties of SEK 9 m (96) are attributable to the sale of the Klippudden Fastigheter to a jointly-owned JV, generating a profit of SEK 24 m, as well as an unrealized change in value of investment properties amounting to SEK -15 m.
- Profit before tax was SEK -38 m (52) and Net profit for the period was SEK -36 m (29).
April – June 2022
- Rental income amounted to SEK 12 m (26). The decrease from previous year is due to the sale of Klippudden Fastigheter to a jointly-owned JV.
- Net operating income was SEK 7 m (17).
- Profit from associated companies was SEK -46 m (-22)which consists of a loss in HAM Nordic AB of SEK -46 m along side profit from associated companies Klippudden Fastigheter and Vincero Fastigheter equaled to about SEK 1 m and SEK -1 m respectively.
Changes in the value of investment properties of SEK -19 m (21) are attributable to an unrealized change in value of SEK -15 m, as well as a realized change in value of SEK -4 m relating to changes in the final closure account for the sale of the Klippudden Fastigheter to a jointly-owned JV. - The operating profit was SEK -60 m (13).
- Profit after financial items was SEK -65 m (5) and Net profit for the period was SEK -62 m (-2).
Important events April - June 2022
- The dividend previously decided by the Annual General Meeting, totalling SEK 700 m, was paid out to the company’s shareholders during the period. SEK 350 m of the dividend was then reinvested in Holmström Fastigheter through a subordinated shareholder loan.
Important events after the end of the quarter
- Klippudden Fastigheter’s CEO, Gustav Carp, will be succeeded by Daniel Goldman from 1 November 2022. For the past 6 years Gustav Carp has worked on building a stable platform with both strong growth and active management. In conjunction with the recently established collaboration which takes Klippudden into a new phase, Daniel Goldman’s deep knowledge of transactions and property management will contribute to the development of Klippudden Fastigheter.
For more information, please contact:
Erik Rune, CEO
+46 73 399 40 30,
www.holmstromfastigheterholding.se
The information in this report is information that Holmström Fastigheter Holding AB (publ) is obliged to make public pursuant to EU Market Abuse Regulation (EU) No 596/2014 and the Securities Markets Act. The information was submitted for publication, according to the agency of the contact persons, on August 31, 2022 at 07:30 a.m. CET.