We have greatly increased developing properties for self-management. Value development on investment properties and sales drive the quarter's results.

January - September 2020

· Net sales amounted to SEK 1,785 m (395).
· The operating profit was SEK 627 m (333), of which SEK 96 m (352) refers to changes in the value of investment properties.
· The net profit before tax for the period was SEK 497 m (204) and the profit after tax was SEK 486 m (148).
· Earnings per share after deductions for minority shares was SEK 11.91 (3.33).

July - September 2020

· Net sales amounted to SEK 281 m (119).
· The operating profit was SEK 187 m (148), of which SEK 126 m (183) refers to changes in the value of investment properties.
· The net profit before tax for the period was SEK 145 m (106) and the profit after tax was SEK 119 m (73).
· Earnings per share after deductions for minority shares was SEK 3.00 (1.64).

Significant events July - September 2020

· Reclassification of projects for developing as self-managed properties. These now make up 56% of the building rights portfolio.
· Formed new joint ventures with Heimstaden Bostad and Derome for joint development of 1,600 residential units and 1,500 detached houses.
· Signed agreements for the acquisition of four projects for the development of 2,345 estimated building rights, of which 2,090 for self-management in Kungsbacka, Haninge and Upplands Bro.
· Production start and sale of 231 residential units in Partille to Heimstaden Bostad.
· Production start of four projects of 890 residential units for self-management, of which one project is a community service property.

Significant events after the end of the quarter

· Issue of new, unsecured, green bond loan of SEK 550 m and voluntary buy-back of certain outstanding bonds.

For more information, please contact:
Fredrik Lidjan, CEO
fredrik.lidjan@magnoliabostad.se 

Fredrik Westin, CFO
fredrik.westin@magnoliabostad.se
Tel. +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 22 October 2020 at. 08.00 a.m. CEST.

Magnolia Bostad AB, CIN 556797-7078, is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se

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