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Report for the period 1 Jan - 30 Sep 2020

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1 July – 30 September 2020

  • Net sales amounted to SEK 2.76 m (4.05)
  • Net operating income was SEK -430,000 (2.23m)
  • The operating loss was SEK 5.98 m (-339,000)
  • The loss for the period was SEK 17.48 m (-11.70)
  • Earnings per share before and after dilution were SEK -34.96 (-36.73)

1 January– 30 September 2020

  • Net sales amounted to SEK 8.25 m (15.52)
  • Net operating income was SEK -2.88 m (1.51)
  • The operating loss was SEK 18.05 m (-16.29)
  • The loss for the period was SEK 52.88 m (-43.37)
  • Earnings per share before and after dilution were SEK -105.76  (-63.35)
  • Cash and cash equivalents at the end of the period were SEK 64.04 m

Significant events during the period
On 26 May 2020, the Urban Planning Committee in Sollentuna municipality discussed and decided to proceed with the next stage in the planning work, planning assignments for the zoning plan. The zoning plan work has now started, and consultations are expected to take place in the beginning of 2021. The municipality now estimates that the zoning plan will come into force during the second half of 2022, from previous assessment in the first half of 2022. The reason is that the work of coordinating the overall investigation has taken longer than expected, which has caused the estimated delay. Several months into the pandemic, it is a fact that 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 periods end
No significant events have occurred after the reporting period.

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 publication, through the agency of the contact persons, on 18 November 2020 at 12.00 CET.

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.

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