Interim report January - March 2014
FAVORABLE DEVELOPMENT FOR THE HOUSING OPERATIONS
- According to segment reporting, revenue increased to SEK 3,037m (2,875) and operating profit increased to SEK 379m (335). The operating margin increased to 12.5 percent (11.7)
- Restated according to IFRIC 15, revenue increased to SEK 2,969m (2,698) and the operating profit increased to SEK 391m (288). Revenue and profit were strengthened by a positive restatement for JM International; profit increased by SEK 12m (–47)
- Profit before tax increased to SEK 374m (273). Profit after tax increased to SEK 283m (208)
- Return on equity for the past twelve months increased to 26.1 percent (20.9). Earnings per share for the first quarter increased to SEK 3.70 (2.60)
- Consolidated cash flow including net investment in properties was SEK –241m (–309)
- The number of residential units sold totaled 697 (709) and housing starts increased to 694 (574).
For more information please contact:
Claes Magnus Åkesson, CFO, Head of IR, +46 8 782 89 71
Johan Skoglund, President and CEO, +46 8 782 87 00
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, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 13 billion and the company has about 2,200 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.