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Interim report January – September 2016

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– During the third quarter Magnolia Bostad continued to expand its project portfolio, and after the acquisitions for the period we have reached a total project volume of more than 10,300 apartments. Through our acquisition in Eskilstuna, we have established a presence in yet another new expansive city. We also continue to have high activity in our ongoing projects, with several ongoing construction projects and continued sales of our tenant-owned apartment projects.

Interim period, January – September

  • Operating profit/loss: SEK 313.1 million (261.4).
  • Profit/loss after tax: SEK 250.2 million (227.7).
  • Earnings per share: SEK 5.58 (5.83).

The third quarter, July – September

  • Operating profit/loss: SEK 98.2 million (61.6).
  • Profit/loss after tax: SEK 78.3 million (51.8).
  • Earnings per share: SEK 1.86 (1.30).

Significant events during the quarter

  • Sale of the Segelflygaren project consisting of 210 apartments located in Södra Ladugårdsängen, Örebro, and the Gjuteriet project, phase 1, consisting of 260 apartments located in Norra Muntellstaden, Eskilstuna. Both sales were made to Slättö.
  • Acquisition of a property in Helsingborg. Magnolia Bostad intends to secure local planning for the development of around 780 apartments.
  • Revenue recognition for the sale of the Tegelmästaren and Tegelslagaren projects. The transaction is no longer condi­tional on the buyer’s financing.

Significant events after the end of the period

  • Issue of a a 5-year senior unsecured bond loan of SEK 400 million pursuant to a bond frame up to SEK 1 billion.
  • Magnolia Bostad is awarded a land allotment in the Hagby Ängar in the Österåker Municipality.
  • Magnolia Bostad signs an agreement to acquire a property in Bunkeflostrand, Limhamn, where the company intends to secure local planning for approximately 1,000 apartments.
  • The first owners moved into project M6 located in Södermalm, Stockholm.

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, and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set above, on November 22, 2016 at 8:00 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. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se


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