Interim Report January – June 2020
STABILITY IN THE SWEDISH HOUSING BUSINESS
Revenue amounted to SEK 7,476m (7,613), and revenue excluding JM Construction, Business area Construction (under closure), amounted to SEK 7,403m (7,517).
Operating profit amounted to SEK 840m (819)1). The operating margin was 11.2 percent (10.8). Operating profit excluding JM Construction, Business area Construction, decreased to SEK 860m (1,020) and the operating margin to 11.6 percent (13.6).
Profit before tax amounted to SEK 802m (779). Profit after tax amounted to SEK 630m (614).
Return on equity for the past twelve months amounted to 22.6 percent (19.8). Earnings per share for the first six months amounted to SEK 9.20 (8.80).
Consolidated cash flow including net investment in properties amounted to SEK 592m (371).
The number of residential units sold decreased to 1,447 (1,548), and housing starts were 1,368 (1,365).
1) The profit included the one-off cost for the discontinuation of the housing operations (Business area Construction) in JM Construction of SEK –180m reported during the first quarter of 2019.
Financial information according to segment reporting.
For additional information, please contact:
Claes Magnus Åkesson, CFO, +46 (0)8 782 89 71
This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 2020-07-14.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 16 billion and the company has about 2,600 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.