Interim Report January – March 2017

– In the past two quarters, we have doubled and further developed our building rights portfolio. Hence, the full year 2017 is expected to show continued growth and improved results.

Interim Period January–March 2017

•        Net sales amounted to SEK 71 million (210).
•        The company reported an operating profit of SEK 14 million (100).
•        Net profit for the period amounted to SEK -9 million (86). Earnings per share, after deductions for minority shares, amounted to SEK -0.20/share (2.02).
•        Equity amounted to SEK 990 million (857). Equity per share, after deductions for minority shares, amounted to SEK 22.61/share (19.95).
•        During the period, Magnolia Bostad acquired approximately 700 (945) estimated building rights and sold 130 (437) apartments.
•        Magnolia Bostad’s share is being traded as of March 31, 2017 on Nasdaq First North Premier.

Significant events during the quarter

•        Agreement for the acquisition of 700 estimated building rights in Bredäng.
•        Conditional agreement for the acquisition of property in Tumba.
•        Sale of phase 2 of the Sländan project in Södertälje totaling 130 apartments.
•        Start of sales on phase 2 of the Lilium tenant-owned apartment project in Uppsala.
•        Established date for estimated start of production to 2017 on phase 2 of the Senapsfabriken project in Uppsala.

Significant events after the end of the period  

•        Magnolia Bostad moves a previously issued covered bond loan for SEK 500 million from the Nasdaq First North Bond Market to the Corporate Bond List of Nasdaq Stockholm. The first day of trading was April 12, 2017.

For more information, please contact:

Fredrik Lidjan, CEO
+46 70 223 43 47, fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO

+46 70 943 73 31, fredrik.westin@magnoliabostad.se 

The information in this press release is such information that Magnolia Bostad AB is obliged to make public according to the European Union’s Market Abuse Regulation, (EU) No 596/2014. The information was submitted for publication, through the agency of the contact persons set above, on April 26, 2017 at 8:15 am.

Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. 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 share (MAG) is listed on Nasdaq First North Premier. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se

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