Year-end Report January – December 2020
STRONG END TO 2020
Revenue amounted to SEK 15,388m (15,692), and revenue excluding JM Construction, Business area Construction (under closure), amounted to SEK 15,232m (15,438).
Operating profit amounted to SEK 2,028m (2,008) 1). The operating margin was 13.2 percent (12.8). Operating profit excluding JM Construction, Business area Construction, amounted to SEK 2,051m (2,243) and the operating margin to 13.5 percent (14.5).
Gains from sale of properties, etc., of SEK 191m (276) are included in the operating profit.
Profit before tax amounted to SEK 1,955m (1,928). Profit after tax amounted to SEK 1,575m (1,570).
Return on equity for the past twelve months decreased to 20.8 percent (22.2). Earnings per share during the year amounted to SEK 22.50 (22.50).
Consolidated cash flow including net investment in properties amounted to SEK 1,715m (1,291).
The number of sold residential units increased to 4,026 (3,595) and housing starts amounted to 3,199 (3,269).
Surplus value of development properties is SEK 6.5bn (6.7).
The Board of Directors proposes SEK 12.75 (12.50) in dividend for 2020.
The Board of Directors proposes a mandate to buy back own shares.
The Board of Directors decided on amended financial targets.
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 CET on 2021-02-03.
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 15 billion and the company has about 2,500 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.