Interim Report January - March 2012

Good profit level - lower sales rate

• According to segment reporting revenues increased to SEK 3,188m (2,491) and the operating profit to SEK 337m (278). The operating margin was 10.6 percent (11.2)
  
• Restated according to IFRIC 15 revenues increased to SEK 2,987m (2,547) and the operating profit to SEK 329m (279)
  
• Profit before tax improved to SEK 316m (265). Profit after tax improved to SEK 227m (187) 
  
• Return on equity for the past twelve months increased to 24.2 percent (18.5). Earnings per share for the first quarter amounted to SEK 2.70 (2.20)
  
• Consolidated cash flow including net investment in properties was SEK 2m (-65)
  
• The number of residential units sold totaled 627 (840) and housing starts totaled 631 (908).

For further information, please contact:
Johan Skoglund, CEO and President, 46 (0)8-782 89 39
Claes Magnus Åkesson, CFO, 46 8 782 89 71
Tomas Eriksson, Press Officer, 46 8 782 86 61

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 the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 12 billion and the company has about 2,300 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.