During the first half of 2025, we refinanced our outstanding bonds through a new bond issue of SEK 825 m, thereby strengthening our financial position. In total, we sold over 1,000 new residencies during the period, of which two pro-jects were through forward funding, one in Kista and one in Tyresö. The sales contributed to strengthening the company's liquidity and reducing our debt. In parallel, we have completed and delivered just over 700 residencies to our buyers. Before the end of the year, we expect to reach the milestone of having delivered over 15,000 residencies to the Swedish market since the company started in 2009.
Johan Tengelin, CEO Magnolia Bostad:
"The results for the period were affected by the bankruptcy of a building contractor working on two of our sold projects. By acting quickly, we were able to secure a new contractor and will be able to continue delivering according to plan, a clear demonstration of our ability to manage and resolve unforeseen events that arise. We are also starting to see the effect of the cost-saving measures we initiated last year, which will be fully realized in the coming quarters.
The market in general is showing signs of improvement, inflation is moving closer to the target level and the policy rate has continued to decline. We expect further interest rate cuts during the year, which will strengthen the conditions for sales of new rental property production. We have several interesting discussions underway regarding both acquisitions and sales and see good opportunities to complete new deals.
As previously announced, I will be stepping down from my role as soon as a replacement is in place, but until then my work will continue to drive and manage our position as a leading developer of forward-funded housing. I am proud that during the quarter we sold housing projects to two international companies who are long-term players in the Swedish housing market and that we continue to deliver attractive and sustainable homes to our buyers."
1 January-30 June 2025
- Net sales amounted to SEK 382 m (1,331).
- The operating loss was SEK 161 m (-548).
- The period's loss before tax was SEK 284 m (-708)
and the loss after tax was SEK 284 m (-691).
1 April-30 June 2025
- Net sales amounted to SEK 344 m (1,279).
- The operating loss was SEK 97 m (-423).
- The period's loss before tax was SEK 150 m (-501)
and the loss after tax was SEK 150 m (-482).
Events 1 April-30 June 2025
- Sold the Kista Äng project in Stockholm consisting of 310 residential units and the Bäverbäcken project in Tyresö consisting of 140 residential units.
- It was announced that CEO Johan Tengelin will step down from his role, he will remain in his position until a successor is appointed to ensure a smooth transition.
Events after the end of the period
- Signed an agreement for the sale of 50 single-family housing development rights in Strängnäs Municipality, with transfer scheduled for early 2026.
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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-09 07:45 CEST.
About Magnolia Bostad
Magnolia Bostad AB (publ), 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
