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Report for the period 1 Jan – 31 Dec 2020

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October – December 2020

  • Net sales amounted to SEK 2.99 m (4.67)
  • Net operating income was SEK 207,000 (823,000)
  • The operating profit was SEK 3.47 m (9.29)
  • The loss for the period was SEK 8.28 m (-7.81)
  • Earnings per share before and after dilution were SEK -16.55 (-15.62)

1 January– 31 December 2020

  • Net sales amounted to SEK 11.25 m (20.20)
  • Net operating income was SEK -2.67 m (2.33)
  • The operating loss was SEK 14.58 m (-7.00)
  • The loss for the period was SEK 61.16 m (-51.18)
  • Earnings per share before and after dilution were SEK -122.32 (-102.36)
  • Cash and cash equivalents at the end of the period were SEK 56.71 m (106.01)

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 is in progress, and consultations are expected to take place in the spring of 2021. The municipality is still estimating that the zoning plan will come into force during the second half of 2022, from previous assessment in the first half of 2022. The main reason for the delay is the coordination of the municipality´s overall investigations for Södra Häggvik, such as water and sewage investigations and coordination with surrounding property owners.

At the extraordinary general meeting on December 22, Lena Boberg and Johan Tengelin were elected to the Board. Tengelin was also elected Chairman of the Board. Danor Ghersinich and Fredrik Lidjan have resigned as board members.

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 period’s end

The company has submitted documents to the municipality prior to the planned development consultation meeting. Consultation is expected in the spring of 2021 but the decision from the municipality on when the consultation will take place is yet to be confirmed.

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 center are expected to be developed by the municipality.

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 and the Securities Market Act. The information was submitted for publication, through the agency of the contact person, on 25 February 2021 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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