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Report for the period 1 January-30 June 2020

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1 April– 30 June 2020

  • Consolidated net sales amounted to TSEK 2 813 (6 279)
  • Net operating income amounted to TSEK -617 (1 666)
  • Operating profit amounted to TSEK -2 298 (-10 441)
  • Net profit for the quarter amounted to TSEK -14 028 (-18 366)
  • Earnings per share before and after dilution effects amounted to SEK -28,06 (-36,73)

1 January– 30 June 2020

  • Consolidated net sales amounted to TSEK 5 491 (11 473)
  • Net operating income amounted to TSEK -2 452 (-715)
  • Operating profit amounted to TSEK -12 071 (-15 947)
  • Net profit for the period amounted to TSEK -35 400 (-31 675)
  • Earnings per share before and after dilution effects amounted to SEK -70,80 (-63,35)
  • Cash and cash equivalents on June 30 2020 amounted TSEK 74 206

Significant events during the period

On May 26th, The Community Building Commission in Sollentuna Municipality voted on and decided to proceed with the next stage in the planning work, the plan assignment for the zoning plan. The municipality estimates that the zoning plan will gain legal force during H1 2022.

The outbreak of the coronavirus Covid-19 has affected the entire world. The pandemic has consequences for people and societies. It has a business impact on companies and organizations. Several months into the pandemic, we can state that it is long-lasting. Despite this, the impact on the company has been limited and our assignments remains that the main business in form of production of housing will not be significantly affected.

Significant events after the periods end

Sollentuna Municipality has revised the timetable and assesses that the zoning plan will gain legal force during H2. The reason is that the work of coordinating joint overall investigations has taken longer than expected, which has caused the estimated time lag.

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 persons, on 28 August 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.

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