Interim report January – September 2021
Holmström Fastigheter Holding AB (publ) (“Holmström Fastigheter”) was formed in December 2020.
January – September 2021
- Rental income amounted to SEK 56 m.
- Net operating income was SEK 36 m.
- Profit from participations in associated companies was SEK 260 mkr which is due to a revaluation of the shares in Magnolia Bostad occurring when the public tender offer to the shareholders of Magnolia Bostad was accepted. In Q1-Q2 the net loss of Magnolia Bostad AB had a negative impact on earnings.
- Changes in the value of investment properties was SEK 129 m. SEK 55 m is due to value-adding investments, increased rents and lower yield requirement. SEK 74 m of the change in value is attributable to the acquisition of companies from Holmströmgruppen in Q1 2021.
- The operating profit was SEK 419 m.
- Profit before tax was SEK 403 m and net profit for the period was SEK 372 m.
July - September 2021
- Rental income amounted to SEK 27 m.
- Net operating income was SEK 18 m.
- Profit from participations in associated companies was SEK 311 m which is mainly due to a revaluation of the shares in Magnolia Bostad occurring when the public tender offer to the shareholders of Magnolia Bostad was accepted.
- Changes in the value of investment properties was SEK 33 m.
- The operating profit was SEK 359 m.
- Profit before tax was SEK 351 m and net profit for the period was SEK 343 m
Significant events July – September 2021
- Issued additional unsecured bonds of SEK 200 m under the existing framework. Bonds of a total of SEK 500 m have been issued under the framework of a total of SEK 750 m maturing in October 2024.
- The public tender offer for the associated company Magnolia Bostad was accepted. 99% of the shares were acquired by HAM Nordic AB which is owned by Holmströmgruppen, Holmström Fastigheter and Ariem. As a consequence, Magnolia Bostad’s shares were delisted from Nasdaq Stockholm on 17 September.
Significant events after the end of the quarter
- Signed agreement to acquire two residential properties in Norrköping, with approximately 2,000 sqm of lettable area.
- Signed agreement to acquire 10,400 sqm of lettable area in central Kalmar, which constitutes three existing residential properties and two more assets that will be acquired after completion in 2023. The transaction is conditional upon financing.
The information Holmström Fastigheter Holding AB (publ) 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 30 November 2021 at. 07.30 a.m. CEST.
For more information, please contact:
Erik Rune, CEO
+46 73 399 40 30,