Interim report January - June 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").
January - June 2022
- Rental income amounted to SEK 32 million (29).
- Net operating income was SEK 16 million (18).
- Results from associated companies had a negative impact of SEK -46m (-51).
- Change in value of investment properties was SEK 9 million (96), of which SEK 24 million is attributable to the sale of Klippudden Fastigheter to a jointly owned JV company and SEK -15 million is attributable to unrealised changes in value within the portfolio.
- Profit before tax amounted to SEK -38m (52) and profit for the period was SEK -36m (29).
April- June 2022
- Rental income amounted to SEK 12 million (26). 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 (17).
- Result from associated companies was SEK -46 million (-22), which consists of an equity interest from Magnolia Bostad AB of SEK -46 million and equity interests from Klippudden Fastigheter and Vincero Fastigheter, which generated approximately SEK 1 million and SEK -1 million respectively during the period.
- Change in value of investment properties during the period amounted to SEK -19 million (21), which is attributable to unrealised changes in the property portfolio of SEK -15 million and final settlement in the sale of Klippudden Fastigheter to a jointly owned JV company of SEK -4 million.
- The operating result was SEK -60 million (13).
- Profit after financial items was SEK -65m (5) and profit for the period was SEK -62m (-2).
Key events April - June 2022
- The dividend of SEK 700 million approved by the Annual General Meeting of Holmström Fastigheter has been paid to the company's shareholders during the quarter. Half of the dividend, corresponding to SEK 350 million, has been reinvested in Holmström Fastigheter through a subordinated shareholder loan.
Important events after the end of the quarter
- Klippudden Fastigheter's CEO, Gustav Carp, will be succeeded by Daniel Goldman on 1 November 2022. Gustav Carp has spent the last six years building a stable platform with both strong growth and active management. In connection with the newly established partnership, Klippudden is entering a new phase where Daniel Goldman's deep knowledge of transactions and property management will contribute to Klippudden's development.
