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Year-end report January - December 2018

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During the year, the company strengthened its position in the market through an agreement with Heimstaden AB corresponding to an order value of SEK 9.6 billion. During the year, we also expanded our already extensive cooperation with Alecta through a letter of intent regarding four hotels. In addition, we see that the company's cash flow from operating activities is moving in the right direction because projects under production are increasingly being completed.

However, we are not satisfied with our result for the fourth quarter, which was impaired by a number of projects being delayed, which are instead expected to be realized in 2019.

January - December 2018

  • Net sales amounted to SEK 1,054 m (1,781).
  • The operating profit was SEK 164 m (384).
  • The net profit for the period before tax was SEK 22 m (276) and the profit after tax was SEK 7 m (276).
  • Earnings per share after deductions for minority shares was SEK 0.26 per share (5.37).
  • The company reported on investment properties from the fourth quarter 2018, which means unrealized value adjustments of SEK 67 m.
  • Magnolia Bostad agreed during the period on the acquisition of 3,068 estimated building rights (7,501) and the number of residential units sold during the period was 1,314 (2,227).
  • The company’s shares were listed for trading on Nasdaq Stockholm’s main list on 20 June
  • The Board does not propose a dividend for 2018 (SEK 1.75 per share).

October - December 2018

  • Net sales amounted to SEK 42 m (718).
  • The operating profit was SEK -33 m (229).
  • The net loss for the period before tax was SEK -71 m (198) and the loss after tax was SEK -86 m (198).
  • Earnings per share after deductions for minority shares were SEK -2.12 per share (4.28).
  • The company reported on investment properties, which means unrealized value adjustments of SEK 67 m (-).
  • Magnolia Bostad agreed during the period on the acquisition of 557 estimated building rights (1,672) and the number of sold residential units during the period was 22 (1,223).

Events during the period October - December 2018

  • Construction started on the Piccolo project, in Halmstad.
  • The company has decided to develop and own properties to manage itself.
  • Acquisition of projects in Kalmar and Östersund that will be owned for own long-term management.
  • Issue of a new unsecured four-year bond loan of SEK 500 m in a framework of SEK 700 m.

Events after the period’s end

  • Signed an agreement to acquire property in Jakobsberg, Järfälla. The deal is conditional and through a joint venture with Heimstaden Bostad.

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

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se or +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 21 February 2019 at. 07.30 a.m. CET.

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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Year-End Report Magnolia Bostad

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