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Report for the period 1 Jan - 30 Sep 2021

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1 July – 30 September 2021

  • Net sales amounted to SEK 2.84 m (2.76)
  • Net operating income was SEK 557,000 (-430,000)
  • The operating loss was SEK 13.82 m (-5.98)
  • The loss for the period was SEK 14.97 m (-17.48)
  • Earnings per share before and after dilution were SEK -29.93 (-34.96)

1 January – 30 September 2021

  • Net sales amounted to SEK 8.26 m (8.25)
  • Net operating income was SEK -652,000 (-2.88 m)
  • The operating loss was SEK 32.85 m (-18.05)
  • The loss for the period was SEK 37.35 m (-52.88)
  • Earnings per share before and after dilution were SEK -74.71 (-105.76)
  • Cash and cash equivalents at the end of the period September 30, 2021 were SEK 79.36 m

Significant events during the period

The company has submitted documents to the Sollentuna municipality prior to the planned development consultation meeting. The zoning plan was displayed in agreement with Sollentuna municipality during the month of April 2021.

The 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 center 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 company has as of 20-4 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 an unconditional shareholder´s contribution of SEK 20 m from Magnolia Projekt 36 AB.

The company has as of 30-9 2021, received a shareholder´s loan of SEK 40 m from the owner Alecta Pensionsförsäkring, ömsesidigt.

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 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 25 November 2021 at 15.00 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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