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2020-07-07

Magnolia Bostad AB: Half-Year Report January - June 2020

January - June 2020

  • Net sales amounted to SEK 1,504 m (276).
  • The operating profit was SEK 437 m (185), of which SEK -30 m (169) refers to changes in the

value of investment properties.

  • The net profit before tax for the period was SEK 351 m (98) and the profit after tax was

SEK 366 m (76).

  • Earnings per share after deductions for minority shares was SEK 8.91 (1.69).

April - June 2020

  • Net sales amounted to SEK 1,058 m (243).
  • The operating profit was SEK 348 m (67), of which SEK -25 m (4) refers to changes in the

value of investment properties.

  • The net profit before tax for the period was SEK 308 m (22) and the profit after tax was

SEK 324 m (33).

  • Earnings per share after deductions for minority shares was SEK 7.92 (0.74).

Significant events April - June 2020

  • Sale of around 900 residential units in Tullholmsviken, Karlstad to Trenum. 440 units had already been acquired and 460 units were acquired during the quarter.
  • Sale of three projects of around 1,040 residential units in Sundsvall, Sundbyberg and Skellefteå to Heimstaden Bostad.
  • Sale of a community service property in Borlänge of 101 residential units to SBB i Norden.
  • Sale of the Björnbäret project developed for long-term management in Kalmar, consisting of over 230 residential units to a company formed by Arctic Securities. The project started the production process in 2018 as an investment property.
  • Land allocations obtained in Tamarinden, Örebro for the development of around 180 residential units.
  • Agreement signed for the acquisition of four additional projects of around 990 residential units in Sundbyberg, Sollentuna and Ystad.
  • Repayment of the remaining part of a bond loan with a nominal amount of SEK 450 m on the due date of 28 April.
  • On 26 June, the Board announced that Johan Tengelin will be appointed as the new CEO of Magnolia Bostad, no later than December 2020.
  • From Q2 2020, Magnolia Bostad has applied changed principles for the consolidation of tenant-owner associations until the time the final home buyers move into their apartments.

Significant events after the end of the quarter

  • No significant events have occurred after the end of the quarter.

 

For more information, please contact:

Fredrik Lidjan, CEO
fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se
Tel. +46 72 720 00 06

The information Magnolia Bostad 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 7 July 2020 at. 08.00 a.m. CEST.

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