During Q1 2025, we completed two projects in the Göteborg area consisting of 540 residences. Furthermore, during the period, we sold our share in a joint venture project, which comprised 409 residencies under production and 713 completed residencies. In April, an agreement was signed for the sale of a residential project in Kista Äng, Stockholm, via a forward funding deal. The project consisted of 310 residences, a small number of commercial premises and 117 parking spaces, and construction will start shortly.
Johan Tengelin, CEO
"The sale of the Kista Äng project is the first pure forward funding sale in some time, which makes the transaction particularly pleasing. During the year, we estimate that around 1,900 residencies will be completed. In terms of results, Q1 has shown an improvement compared to the previous quarter, despite a continued challenging market.
At the start of the quarter, we successfully issued a new bond of SEK 825 million. In connection with this, we redeemed our three previous bonds totalling SEK 1,226 m, thereby reducing our debt. At the same time, we received additional capital contributions from our owners, which has given the company a stable financial foundation. At the same time, we implemented further cost savings and replaced our regional offices with two central units, a business development unit and a project development unit.
We announced new goals in Q1. In accordance with our goals and established business plan, we will create stable, long-term and continuous value growth by developing attractive, sustainable living environments in Sweden's metropolitan areas. Our focus remains on developing homes for sale - a segment where we see long-term demand. We note growing interest in housing projects among investors, domestic and international, and several forward funding transactions were completed during the period. Overall, this gives the market a strong signal, even if recovery is taking place slowly. Since it started in 2009, the company has delivered over 13,500 residencies to the Swedish market and we now look forward to continuing to sell, develop and deliver top-quality, sustainable, energy-efficient homes to our customers."
1 January-31 March 2025
- Net sales amounted to SEK 38 m (52).
- The operating loss was SEK 63 m (-125).
- The period's loss before tax was SEK 134 m (-208)
and the loss after tax was SEK 134 m (-208).
Events 1 January-31 March 2025
- Divested all shares in JV Yard, corresponding to 561 residential units.
- Received an unconditional shareholder contribution of SEK 300 m from Magnolia Bostad's owner HAM Nordic AB.
- Issued a bond consisting of senior unsecured bonds of SEK 825 m and redeemed all other outstanding bonds totalling SEK 1,226 m.
Events after the end of the period
- Agreement on the sale of the Kista Äng project in Stockholm, consisting of 310 residential units.
For more information, please contact:
Johan Tengelin, CEO
johan.tengelin@magnoliabostad.se
Fredrik Westin, Deputy CEO & CFO
fredrik.westin@magnoliabostad.se
+46 73 367 71 27
This information is information that Magnolia Bostad AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-04-25 07:45 CEST.
About Magnolia Bostad
Magnolia Bostad AB, CIN 556797-7078, develops attractive and sustainable rental apartments, tenant-owned apartments and community service properties in Sweden's metropolitan areas. Our work is based on a holistic approach where the operations are carried out in a way that promotes long-term, sustainable urban development. The company's bonds are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se
