English

Half-year Report January–June 2021

Report this content

Our intensive efforts to find new building rights in attractive areas produced results. We have expanded our building rights portfolio with approximately 1,400 assessed building rights in seven projects around the country. Our portfolio of building rights now contains about 25,300 potential building rights and I expect that before the end of the year we will be able to present our customers with a number of attractive projects. It is also satisfying that Magnolia Bostad's shares were green-labelled by Nasdaq during Q2. This further clarifies our sustainability value for our investors.

January–June 2021

  • Net sales amounted to SEK 459 m (1,504).
  • The operating loss was SEK 27 m (+437). Changes in the value of investment properties contributed positively with SEK 42 m (-30).
  • The net loss before tax for the period was SEK 114 m (+351) and the loss after tax was SEK 127 m (+366).
  • Earnings per share after deductions for minority shares was SEK -2.99 (8.91).

April–June 2021

  • Net sales amounted to SEK 52 m (1,058).
  • The operating loss was SEK 2 m (+348). Changes in the value of investment properties contributed positively with SEK 22 m (-25).
  • The net loss before tax for the period was SEK 46 m (+308) and the loss after tax was SEK 55 m (+324).
  • Earnings per share after deductions for minority shares was SEK -1.28 (7.91).

Significant events April–June 2021

  • Acquired land for developing around 1,300 residential units in seven projects located in Östersund, Sundsvall, Håbo, Nynäshamn, Ursvik and Tyresö in Greater Stockholm and Kungsbacka in Greater Göteborg.
  • Received the Nasdaq Green Equity Designation, which gives a green labelling of the company's shares on Nasdaq's main list. The purpose is to provide an increased focus for investors looking for sustainable investments.
  • Listed the company's second green bond on Nasdaq Stockholm's list for sustainable bonds.
  • Carried out voluntary early redemption of all outstanding bonds maturing in October 2021.

Significant events after the end of the quarter

  • Acquired land in Håbo for development of about 100 residential units.

For more information, please contact:
Johan Tengelin, CEO
johan.tengelin@magnoliabostad.se

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se
+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 7 July 2021 at. 07.30 a.m. CEST.

Magnolia Bostad AB, CIN 556797–7078, is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.com 

Documents & Links