Optimized business model and reduced risk level result in revaluations in Q3 2019

Following a review of the company’s operations, SSM Holding AB (publ) today resolved to optimize the company’s business model. The decision has led to the revaluation of certain projects and joint venture assets. The revaluations will not affect the company’s cash flow but are expected to have a -312.7 MSEK impact on the results for Q3 2019.

Following the review of SSM’s operations that was carried out during the third quarter 2019, the company’s Board of Directors today resolved to optimize SSM’s business model to adapt to current market conditions. As a result, certain projects and joint venture assets will be revalued.

The revaluations will not affect the company’s cash flow but are expected to have a preliminary effect of -312.7 MSEK on the results for the third quarter 2019.

Highlights from the review and SSM’s direction forward as well as the preliminary income statement and balance sheet for the third quarter 2019 will be published in a press release on November 12 at 07:00 CET and presented in connection with a Capital Markets Day that will be held between 11:30 and 14:00 CET.

A webcast from SSM’s Capital Markets Day will be available on the company’s website at ssmlivinggroup.com from about 17:00 CET on November 12, 2019.

This information is such that SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 21:15 CET on November 11, 2019.
  

For more information, please contact:

Ann-Charlotte Johansson
EVP Communications, IR & Sales
Phone: +46 761 65 17 71
Email: ann-charlotte.johansson@ssmliving.se
Twitter: @anncharlotteSSM
 

About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for  the company’s target group – the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible. SSM is the leading property developer in its niche within the Greater Stockholm area and at end of June 2019, the company has approximately 6,200 building permits in its portfolio. SSM has been listed on Nasdaq Stockholm main list since April 6, 2017. www.ssmlivinggroup.com