Interim report January - September 2022
In March 2021, Holmströmgruppen carried out a restructuring of the group. By combining companies with residential and community properties and shareholdings in Magnolia Bostad and Vincero Fastigheter, a new subgroup was created under a new parent company, Holmström Fastigheter Holding AB (publ), ("Holmström Fastigheter").
COMMENTS ON THE RESULT
JANUARY - SEPTEMBER 2022
- Rental income amounted to SEK 43 million (56). The decrease from the corresponding period last year is attributable to the sale of Klippudden Fastigheter to a jointly owned JV company.
- Net operating income was SEK 23 million (36).
- Results from associated companies had a negative impact of SEK -244m (260).
- Change in value of investment properties was SEK 9 million (129), of which SEK 26 million is related to the sale of Klippudden Fastigheter to a jointly owned JV company and SEK -17 million is related to unrealised changes in value within the portfolio.
- Profit after financial items amounted to SEK -243m (403) and profit for the period was SEK -240m (372).
JULY - SEPTEMBER 2022
- Rental income amounted to SEK 11 million (27). The decrease from the corresponding quarter last year is attributable to the sale of Klippudden Fastigheter to a jointly owned JV company.
- Net operating income was SEK 7 million (18).
- Result from associated companies was SEK -198m (311), which consists of an equity share from Magnolia Bostad AB of SEK -189m and an equity share from Klippudden Fastigheter and Vincero Fastigheter, which generated approximately SEK -8m and SEK -1m respectively during the period.
- Change in value of investment properties during the period amounted to SEK 0 million (33), which is attributable to unrealised changes in the property portfolio of SEK -2 million and additional purchase consideration in the sale of Klippudden Fastigheter to a jointly owned JV company of SEK 2 million.
- The operating result was SEK -196m (359).
- Profit after financial items was SEK -204m (351) and profit for the period was SEK -203m (343).
KEY EVENTS JULY - SEPTEMBER 2022
- Holmström Group's CFO, Christian Fredefors, completed his assignment during the period.
KEY EVENTS AFTER THE END OF THE QUARTER
- Holmströmgruppen has hired Ken Wendelin as CFO and Deputy CEO. Ken comes from Aros Bostad where he has been CFO and Deputy CEO.
