Report for the period 1 January - 31 March 2020

1 January - 31 March 2020
Consolidated net sales amounted to 2 677 TSEK (5 194)
Net operating income amounted to -1 835 TSEK (2 381)
Operating profit amounted to -9 773 TSEK (-5 505)
Net profit for the quarter amounted to -21 371 TSEK (-13 309)
Earnings per share before and after dilution effects amounted to -36,38 SEK (-26,62

Significant events during the period
Christian Matti has taken over as CEO of the company.

During the period an outbreak of the coronavirus Covid-19 occurred and this has led to a general concern in society. It is currently difficult to determine the consequences this will have on the company and the market in both the short and the long term. So far, the impact on the company has been limited and our assessment is that the main business in the form of housing production will not be significantly affected..

Significant events after the periods end
On April 27, Sollentuna Municipality announced that on May 26, 2020, the Community Building Commission intends to consider the next phase of the planning work, which is a plan assignment for the detailed plan. As a result, the municipality has presented an updated timetable for the work on the detailed plan, where the municipality estimates that the detailed plan will gain legal force during H1 2022.

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 14 May  2020 at 12.00 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.