Year-end Report January-December 2022

Press release

Magnolia Bostad Year-end Report January-December 2022

Our results were hit by sales that fell through, negative effects on valuations, project write-downs and one-off items. In order to adapt to new market conditions, we have been working on cost reductions over the past six months. During Q4, we continued the review of our building rights portfolio, which now stands at around 18,800 building rights. Our building rights portfolio now has a better balance for the prevailing conditions. We have a strong market position and a high implementation capacity with good opportunities to continue developing housing and new communities even under the current tough market conditions.

1 January-31 December 2022

  • Net sales amounted to SEK 569 m (1,268).
  • The operating loss was SEK 747 (+260), of which SEK-230 m (128) refers to
    changes in the value of investment properties.
  • The loss before tax for the period was SEK 929 m (+75) and the loss after tax
    amounted to SEK 863 m (+50).
  • Earnings per share, after deductions for minority shares, was SEK -20.89 (1.59).

1 October-31 December 2022

  • Net sales amounted to SEK 349m (716).
  • The operating loss was SEK 235m (+196), of which SEK -34 m (22) refers to
    changes in value of investment properties.
  • The loss for the period before tax was SEK 288m (+145) and the loss after tax
    was SEK 281m (+148).
  • Earnings per share, after deductions for minority shares, Was SEK -6.93 (3.83).

Significant events 1 October-31 December 2022

  • Carried out a major review of the building rights portfolio to make it better
    balanced for prevailing market conditions.
  • Received two unconditional shareholder contributions totalling SEK 300 m
    from Magnolia Bostad's owner HAM Nordic AB.

Significant events after the end of the quarter

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