Year-end Report January – December 2019

STRONG SALES AND HIGH LEVEL OF PRODUCTION STARTS

Revenue decreased to SEK 15,692m (16,161), and revenue excluding JM Construction, Business area Construction (under closure), amounted to SEK 15,438m (15,391).

Operating profit increased to SEK 2,008m ¹⁾ (1,886). The operating margin increased to 12.8 percent (11.7). Operating profit excluding JM Construction, Business area Construction, increased to SEK 2,243m (2,062) and the operating margin to 14.5 percent (13.4).

Gains from the sale of two completed rental unit properties of SEK 170m are included in the operating profit.

Profit before tax increased to SEK 1,928m (1,817). Profit after tax increased to SEK 1,570m (1,438).

Return on equity for the past twelve months amounted to 22.2 percent (22.2). Earnings per share during the year increased to SEK 22.50 (20.60).

Consolidated cash flow including net investment in properties amounted to SEK 1,291m (–473).

The number of residential units sold increased to 3,595 (2,463), of which 376 residential units refer to the sale of rental units within JM Property Development. Housing starts increased to 3,269 (3,135), of which 143 residential units refer to rental units within JM Property Development.

Surplus value of development properties of SEK 6.7bn (7.0).

The Board of Directors proposes SEK 12.50 (12.00) in dividend for 2019.

¹⁾ Profit includes the one-off cost for the discontinuation of the housing operations (Business area Construction) in the subsidiary JM Entreprenad AB of SEK –180m reported during the first quarter.

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 CET on 2020-01-31.

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.