Half-Year Report January – June 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”).
January – June 2022
- Rental income amounted to SEK 32 m (29).
- Net operating income was SEK 16 m (18).
- Operating losses from associated companies was SEK -46 m (-51).
- Changes in the value of investment properties of SEK 9 m (96) are attributable to the sale of the Klippudden Fastigheter to a jointly-owned JV, generating a profit of SEK 24 m, as well as an unrealized change in value of investment properties amounting to SEK -15 m.
- Profit before tax was SEK -38 m (52) and Net profit for the period was SEK -36 m (29).
April – June 2022
- Rental income amounted to SEK 12 m (26). 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 (17).
- Profit from associated companies was SEK -46 m (-22)which consists of a loss in HAM Nordic AB of SEK -46 m along side profit from associated companies Klippudden Fastigheter and Vincero Fastigheter equaled to about SEK 1 m and SEK -1 m respectively.
Changes in the value of investment properties of SEK -19 m (21) are attributable to an unrealized change in value of SEK -15 m, as well as a realized change in value of SEK -4 m relating to changes in the final closure account for the sale of the Klippudden Fastigheter to a jointly-owned JV. - The operating profit was SEK -60 m (13).
- Profit after financial items was SEK -65 m (5) and Net profit for the period was SEK -62 m (-2).
Important events April – June 2022
- The dividend previously decided by the Annual General Meeting, totalling SEK 700 m, was paid out to the company’s shareholders during the period. SEK 350 m of the dividend was then 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 from 1 November 2022. For the past 6 years Gustav Carp has worked on building a stable platform with both strong growth and active management. In conjunction with the recently established collaboration which takes Klippudden into a new phase, Daniel Goldman’s deep knowledge of transactions and property management will contribute to the development of Klippudden Fastigheter.
