COMMENTS ON THE RESULTS
 

JANUARY - JUNE 2023

- Rental income amounted to SEK 24 million (32). The decrease from the corresponding period last year is attributable to the sale of Klippudden Fastigheter to a jointly owned JV company, which took place on February 14, 2022.
- Other income of SEK 4 million (0) is a non-recurring effect from insurance compensation for fire. Related one-off costs of SEK -4 million have also affected production and operating costs. The net of the one-off effect corresponds to SEK 0 million on net operating income.
- Net operating income amounted to SEK 12 million (16).
- Income from associated companies had a negative impact of SEK -578 million (-46).
- Change in value of investment properties was SEK -94 million (9).
- Profit before tax for the period amounted to SEK -697 million (-38).


APRIL - JUNE 2023

- Rental income amounted to SEK 12 million (12).
- Net operating income was SEK 7 million (7).
- Profit from associated companies amounted to SEK -507 million (-46). This is primarily an effect of the revaluation of HAM Nordic shares in connection with the signed sales agreement, which resulted in an impairment of SEK -502 million.
The remaining result relates to capital share from Ankarhagen and Vincero Fastigheter, which generated SEK 1 million and SEK -6 million respectively during the period.
- Change in value of investment properties during the period amounted to SEK -94 million (-19).
- Profit before tax for the period was MSEK -614 (-65).


SIGNIFICANT EVENTS APRIL - JUNE 2023

- Holmström Fastigheter signed an agreement in June to sell all shares in Magnolia Bostads AB's owner company, HAM Nordic AB to Areim.
- During the period, shareholder loans corresponding to SEK 350 million were converted to unconditional shareholder contribution, which increases the Group's equity.
- During the period, Holmström Fastigheter has divested all preference shares in Klippudden Fastigheter to the JV partner Slättö at book value. The company's ordinary shares in Klippudden Fastigheter remain, but at a non-significant value, whereupon reporting of Klippudden Fastigheter ceases as of this quarterly report.


SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

- During Q3 Holmström Fastigheter transferred parts of its ownership in HAM Nordic AB to Areim. Remaining ownership as of publication of this quarterly report amounted to about 21.8 percent, compared to previously about 35.5 percent.
- At the beginning of the third quarter, the Group amortized the remaining shareholder loan, corresponding to SEK 104 million. The isolated effect of the amortization gives an adjusted equity ratio of about 43 percent.
- During August, Holmström Fastigheter has refinanced 68 percent of the existing bank debt, which extended the average capital tie-up for the total bank debt from 0.3 years to 2.7 years as of August 2023.