Interim Report January – March 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 – March 2022

  • Rental income amounted to SEK 20 m (3).
  • Net operating income was SEK 9 m (1).
  • The profit from associated companies was SEK 0 m, which consists of SEK -14 m from Magnolia Bostad and SEK +14 m from Klippudden Fastigheter. The profit from Vincero Fastigheter during the period amounted to SEK 0 m.
  • Realized changes in the value of investment properties of SEK 28 m (0) are attributable to the sale of the Klippudden Group to a jointly-owned JV.
  • The operating profit was SEK 34 m (47).
  • The loss after financial items was SEK 26 m (47) and the loss for the period was SEK 25 m (31).

Important events January – March 2022

  • Holmström Fastigheter, Slättö Core Plus AB (“Slättö”) and Latona Fastigheter AB (“Latona”) have established a JV regarding the ownership in Klippudden Fastigheter. The collaboration was established in February 2022. After the transaction, the JV is owned (directly or indirectly) 50% by Slättö, 47.5% by Holmström Fastigheter and 2.5% by Latona. The properties will be sold at the valuations available as of 31 December 2021. Holmström Fastigheter’s property holdings in the Kalmar Region and the property holdings in Norrköping and Linköping are included in Klippudden Fastigheter. Holmströmgruppen will continue to be the asset manager for Klippudden Fastigheter.
  • During the period, the above-mentioned JV took over the Rapsen, Månstenen and Asken 2 & 3 properties, after which Holmström Fastigheter as part of the original deal received an additional purchase price of around SEK 46.5 m.

Important events after the end of the quarter

  • The Annual General Meeting of Holmström Fastigheter Holding decided on a dividend totalling SEK 700 m to the company’s shareholders for FY 2021. 50% of the dividend will be reinvested in Holmström Fastigheter Holding through a subordinated shareholder loan.