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Year end-report January – December 2016

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– During In 2016, Magnolia Bostad established the platform required so that we will consistently be able to achieve our goal of starting production on 3,000 apartments per year as of 2018.

Financial year January–December 2016

  • Net sales amounted to SEK 1,017 million (876).
  • The company reported an operating profit of SEK 355 million (358).
  • Net profit/loss for the year amounted to SEK 265 million (308). Profit/loss, excluding the minority amounted to SEK 5.87 per share (8.36).
  • Equity amounted to SEK 998 million (771). Equity, excluding the minority, amounted to SEK 22.79 per share (17.93).During the year Magnolia Bostad acquired 9,190 planned building rights, and apartments sold during the period amounted to 2,124.
  • During the year, Magnolia Bostad issued a secured bond loan of SEK 600 million and an unsecured bond loan of SEK 400 million. The bonds were admitted for trading on Nasdaq First North Bond Market.
  • The Board of Directors is proposing a dividend of SEK 1.75 per share (1.00).

Fourth quarter 2016

  • Net sales amounted to SEK 124 million (397).
  • The company reported an operating profit of SEK 41 million (96).
  • Profit/loss, excluding the minority amounted to SEK 0.26 per share (1.77).
  • During the quarter, Magnolia Bostad acquired 4,870 planned building rights, and apartments sold during the period amounted to 0.
  • During the quarter, Magnolia Bostad issued an unsecured bond loan of SEK 400 million.

Significant events during the quarter

  • Acquisition of around 4,870 planned building rights, for example in Sollentuna, Lund, Malmö and Norrtälje.
  • Acquisition of the Stinsen shopping center through a joint venture with Alecta, where Magnolia Bostad plans to develop 2,000 appartments.
  • Framework agreement with Slättö for the sale of housing projects totaling SEK 5-14 billion.
  • Issue of bond loans totaling SEK 400 million.
  • Sales start for phase 2 of the Bryggan project in Karlstad.

Significant events after the end of the period

  • Magnolia Bostad signs agreement to acquire three leaseholds in Bredäng, Stockholm, where Magnolia Bostad will continue work to develop the local plan with the goal of building approximately 700 to 800 homes.

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 February 24, 2017 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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