Interim Year Report January - September 2022
In March 2021, Holmströmgruppen carried out a restructuring of the Group. Through combining companies with residential and community service properties and shareholdings in Magnolia Bostad and Vincero Fastigheter, a new sub-group was created under a new parent company, Holmström Fastigheter Holding AB (publ), ("Holmström Fastigheter").
COMMENTS TO THE RESULTS
JANUARY - SEPTEMBER 2022
- Rental income amounted to SEK 43 m (56). The decrease from previous year is due to the sale of Klippudden Fastigheter to a jointly-owned JV.
- Net operating income was SEK 23m (36).
- Operating losses from associated companies was SEK -244 m (260).
- Changes in the value of investment properties of SEK 9 m (129) are attributable to the sale of the Klippudden Fastigheter to a jointly-owned JV, generating a profit of SEK 26 m, as well as an unrealized change in value of investment properties amounting to SEK -17 m.
- Profit after financial items was SEK -243 m (403) and Net profit for the period was SEK -240 m (372).
JULY - SEPTEMBER 2022
- Rental income amounted to SEK 11 m (27). The decrease from previous year is due to the sale of Klippudden Fastigheter to a jointly-owned JV.
- Net operating income was SEK 7 m (18).
- Profit from associated companies was SEK -198 m (311)which consists of a loss in HAM Nordic AB of SEK -189 m, as well as result from associated companies Klippudden Fastigheter and Vincero Fastigheter of about SEK -8 m and SEK -1 m respectively.
- Changes in the value of investment properties of SEK 0 m (33) are attributable to an unrealized change in value of SEK -2 m, as well as a realized change in value of SEK 2 m relating to contingent payments for the sale of the Klippudden Fastigheter to a jointly-owned JV.
- The operating profit was SEK -196 m (359).
- Profit after financial items was SEK -204 m (351) and Net profit for the period was SEK -203 m (343).
IMPORTANT EVENTS JULY - SEPTEMBER 2022
- The former CEO of Holmströmgruppen, Christian Fredefors, terminated his employment.
IMPORTANT EVENTS AFTER THE END OF THE QUARTER
- Holmströmgruppen, has hired Ken Wendelin as CFO and Deputy CEO. Ken Wendelin joins us from Aros Bostad, where he has been CFO and Deputy CEO.
