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2016-05-17

Magnolia Bostad AB: Magnolia Bostad reports on the first quarter of 2016

PRESS RELEASE May 17, 2016

The Company is reporting an operating profit/loss for the period of
SEK 99.5 million (146.1). Profit/loss after tax was SEK 85.8 million
(138.7), which adjusted for items affecting comparability is the
company's best result to date.

- The first months of 2016 were characterized by strong sales and
intensive business activity, says Fredrik Lidjan, CEO of Magnolia
Bostad. I am also pleased to announce that we have successfully
conducted a bond issue of SEK 600 million.

The first quarter in brief:

· Operating profit/loss: SEK 99.5 (146.1) million
· Profit/loss after tax: SEK 85.8 (138.7) million
· Earnings per share: SEK 2.01 (4.43)

Operating profit for Q1 2015 was positively impacted by approximately
SEK 153 million as a result of the revaluation of the Senapsfabriken
project during the transfer from associated company to subsidiary.

Significant events during the quarter

· Magnolia Bostad expands its organization in Stockholm and
Helsingborg with the addition of seven staff members.

· Magnolia Bostad signs a cooperation agreement with Västerkulla
Hotel. Under the agreement, Västerkulla Hotell Holding AB has the
possibility to acquire the hotels that Magnolia Bostad develops.

· Magnolia Bostad acquires the Antikvarien 1 and Arkeologen 1
properties in Mariastaden from Helsingborg Municipality. At the same
time, it sells the 345 rental apartments that will be developed on
these properties to SPP Fastigheter.

· Magnolia Bostad and Helsingborg Municipality sign a declaration of
intent to collaborate on the development of new rental apartments
with reasonable rents.

· Magnolia Bostad signs a land allotment agreement for 600
apartments in the Norra Kajen harbor area in Sundsvall.

· The sales target was achieved for the Varvet block of the
Kanikenäsholmen project in Karlstad.

· Magnolia Bostad annuls contracts concerning the Huvudkontoret
project, which consists of 90 tenant-owned apartments in Uppsala,
since it was prevented from starting work on the property by the
seller, Bergsporten AB.

The full report is available at:
www.magnoliabostad.se/investorrelations/

For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47, fredrik.lidjan@magnoliabostad.se

Erik Rune, CFO
+46 73 399 40 30, erik.rune@magnoliabostad.se

Magnolia Bostad develops efficient, attractive and functional
residential properties, including rental apartments, tenant-owned
apartments and hotels, in attractive locations primarily in Sweden's
growth areas. Our work is based on a holistic approach where the
operations are conducted in a manner that promotes long-term,
sustainable urban development. Magnolia Bostad's share (MAG) is
listed on Nasdaq First North. Erik Penser Bank is the Certified
Adviser for the Company. More information is available at
www.magnoliabostad.se

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http://news.cision.com/magnolia-bostad-ab/r/magnolia-bostad-reports-on-t...
http://mb.cision.com/Main/12686/2010428/516559.pdf
http://mb.cision.com/Public/12686/2010428/a6f57e16dfd1bcc1.pdf

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