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Half-Year Report January – June 2019

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During the quarter we started the production process of 921 residential units. Of these, 645 are for our own management and developed through our joint venture with Heimstaden Bostad. The homes will be built as wooden multi-family dwellings

January - June 2019

  • Net sales amounted to SEK 439 m (798).
  • The operating profit was SEK 195 m (206), of which SEK 169 m (-) refers to changes in the value of investment properties.
  • The net profit before tax for the period was SEK 108 m (139) and the profit after tax was SEK 86 m (139).
  • Earnings per share after deductions for minority shares was SEK 1.93 per share (3.60).

April - June 2019

  • Net sales amounted to SEK 402 m (267).
  • The operating profit was SEK 73 m (93), of which SEK 4 m (-) refers to changes in the value of investment properties.
  • The net profit before tax for the period was SEK 28 m (59) and the profit after tax was SEK 39 m (59).
  • Earnings per share after deductions for minority shares was SEK 0.90 per share (1.45).

Events during the period April – June 2019

  • Sales, number of residencies
    - Norrtälje Hamn project, 167
    - Lilium project, stage 2, 90
    -18 tenant-owned apartments in projects production started earlier
  • Production process starts, number of residencies
    - Norrtälje Hamn project, 167
    - Lilium project, stage 2, 109
    - Joint venture (JV) Brogårdstaden project, 645
  • Completed: Adjutanten, Visby, 68 residencies for self-management.
  • Signed conditional agreement for sale of the Täljöviken project.
  • Signed agreement on the sale of shares in JV that owns Skogskarlen 3, Solna.
  • Formed JV with Heimstaden Bostad.
  • Signed construction contract with Derome regarding construction of wooden houses.

 

Events after the period’s end

  • No significant events after the end of the period.

For more information, please contact: 
Fredrik Lidjan, CEO
fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se

Tel. +46 72 720 00 06

The information Magnolia Bostad publishes in this report is required in accordance with the EU Market Abuse Regulation (EU) No 596/2014 and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons, on 8 July 2019 at. 08.00 a.m. CEST.


Magnolia Bostad AB (publ), CIN 556797-7078 develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing and hotels, in attractive locations in Sweden’s growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se 


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Magnolia Bostad Half-Year Report 2019

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