Half-year Report January-June 2022
Rapport
Pressmeddelande
Half-year Report January-June 2022
We acquired just over 1,300 building rights during the second quarter and we started production of 538 residential units. In total our building rights portfolio now amounts to just over 21,100 building rights. In addition, we have over 10,000 residential units in production. At the beginning of the quarter, we issued another green bond. However, the market situation deteriorated significantly during the latter part of the quarter. As a consequence of this, we will need to review our fixed costs to make Magnolia Bostad more flexible and adapted to achieve our business goal.
1 January–30 June 2022
• Net sales amounted to SEK 188 m (459).
• The operating loss was SEK 85 m (-27), of which SEK 32 m (42) refers to changes in the value of investment properties.
• The loss before tax for the period was SEK 161 m (-114) and the loss after tax amounted to SEK 148 m (-127).
• Earnings per share, after deductions for minority shares, was SEK -3.38 (-2.99).
1 April–30 June 2022
• Net sales amounted to SEK 97 m (52).
• The operating loss was SEK 62 m (-2), of which SEK 14 m (22) refers to changes in the value of investment properties.
• The loss before tax for the period was SEK 105 m (-46) and the loss after tax amounted to SEK 109 m (-55).
• Earnings per share, after deductions for minority shares, was SEK -2.59 (-1.28).
Significant events 1 April–30 June 2022
• Acquired around 1,100 building rights in Botkyrka, Stockholm and Österåker.
• Won two land allocations in Väsjön, Sollentuna consisting of about 200 residential units, a grocery store and a large community centre.
• Production started on 538 residential units for Magnolia Bostad's self-management.
• Completed 149 residential units for Magnolia Bostad's self-management, 58 in Eskilstuna and 91 in Örebro.
• Issued new senior unsecured green bonds of a nominal SEK 300 million within a framework of SEK 1,500 million and listed them on Nasdaq's list for sustainable bonds.
• Completed voluntary early redemption of outstanding green bonds maturing in 2024 amounting to SEK 180 m.
Significant events after the end of the quarter
• No significant events after the end of the quarter
For more information, please contact:
Johan Tengelin, CEO
Fredrik Westin, Deputy CEO & CFO
+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. The information was submitted for publication, through the agency of the contact persons, on 6 July 2022 at. 07.45 a.m. CEST.