Interim report January – March 2021

1 January – 31 March

• Consolidated net sales amounted to SEK 2.60 m (2.68)
• Net operating income amounted to SEK -1.55 m (-1.84)
• Operating profit amounted to SEK -27.70 m (-9.77)
• The loss for the period amounted to SEK 29.34 m (-21.37)
• Earnings per share before and after dilution effects amounted to SEK -58.67 (-42.74)

Significant events during the quarter

The company has submitted documents to the Sollentuna municipality prior to the planned development consultation meeting. The municipality has decided that the consultation will be held in April 2021.

The Preliminary consultation documents contain an estimated volume of residential building rights of almost 100,000 sq meters of gross floor area above ground and another estimated volume of premises of approximately 10,000 sq meters of gross floor area above ground. According to the consultation proposal, the school and sports centre are expected to be developed by the municipality. Coinciding, with the consultation process, the property development enters a more active phase. The interest expenses related to the property development are thereby activated from the first quarter of 2021, according to IAS 23.

The municipality is still estimating that the zoning plan will come into force during the second half of 2022.

The COVID-19 infection will be with us for some time to come. Despite this, the impact on the company has been limited and our assessment remains that the main business of housing production will not be significantly affected.

Significant events after the end of the period

The zoning plan was displayed in agreement with Sollentuna municipality during the month of April.

The company has as of 20 April 2021, received an unconditional shareholder´s contribution, from the owner Alecta Pensionsförsäkring, ömsesidigt, of the sum SEK 20 m. The company has also at the same date received a unconditional shareholder´s contribution of SEK 20 m from Magnolia Projekt 36 AB.

For more information, please contact:
Christian Matti, CEO, Sollentuna Stinsen JV AB
+46 70 270 53 25, christian.matti@magnoliabostad.se

The information Sollentuna Stinsen JV AB publishes in this report is required in accordance with the EU Market Abuse Regulation (EU) No 596/2014. The information was submitted for through the agency of the contact person, on 17 May 2021 at 13.00 CEST.

Sollentuna Stinsen JV AB (559085-9954) is a joint venture between Magnolia Projekt 36 AB and the pension company Alecta pensionsförsäkring, ömsesidigt, and was formed in 2016 to develop the property Sollentuna Stinsen 2.The company is located at Sturegatan 6, Stockholm.