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Year-end Report 2010

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Good sales and high level of housing starts

  • Revenues amounted to SEK 9,136m (9,620), including a negative impact on revenue of SEK -138m (842) due to restatement according to IFRIC 15. Revenue according to segment reporting shows an increase of SEK496m (-3,451)

  • The number of residential units sold totaled 3,276 (3,291) and housing starts increased to 3,404 (2,150)

  • Profit before tax improved to SEK 840m (529) including a negative impact on revenue of SEK -62m (-18) due to restatement according to IFRIC 15 Profit after tax improved to SEK 594m (365). The operating margin increased to 9.9 percent (6.7).

  • Return on equity for the year rose to 15.7 percent (10.6). Earnings per share increased to SEK 7.10 (4.40)

  • Consolidated cash flow including net investment in properties was SEK 42m (1,124) including cash paid for the Dalénum acquisition, Stockholm, SEK -719m

  • The Board of Directors proposes a dividend of SEK 4.50 (2.50) for 2010.

JM discloses the information provided in this year-end report and interim report pursuant to the Securities Markets Act and/or Financial Instruments Trading Act. The information was submitted for publication on February 9, 2011.

This and previous press releases are also available at www.jm.se

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 9 billion and the company has about 2,100 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.

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