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Interim Year Report January – September 2023

COMMENTS TO THE RESULTS
 
 
JANUARY – SEPTEMBER 2023
· Rental income amounted to SEK 36 m (43). The decrease from previous year is due to the sale of Klippudden Fastigheter to a jointly-owned JV as per 2022-02-14.
· Other income amounting to SEK 5 m (0) are primarily an one-off insurance compensation due to a fire with corresponding one-off costs.
· Net operating income was SEK 21 m (23).
· Profit/loss from associated companies was SEK -580 m (-244).
· Changes in the value of investment properties was SEK -94 m (9).
· Profit/loss before tax for the period was SEK -706 m (-242).
· In June 2023, Holmström Fastigheter signed an agreement to sell all shares in Magnolia Bostad AB (publ)’s holding company, HAM Nordic AB, to Areim. In July Holmström Fastigheter received an initial purchase price of approximately SEK 111 m. Payment of the Company’s remaining shares in HAM Nordic AB is subject to financing and may bring in a total of approximately SEK 177 m for Holmström Fastigheter. In the event of failed financing, Holmström Fastigheter may receive up to approximately SEK 89 m from the divestment of HAM Nordic AB. The remaining ownership as per end of the quarter was approximately 21,8%.
 
 
JULY – SEPTEMBER 2023
· Rental income amounted to SEK 12 m (11).
· Net operating income was SEK 9 m (7).
· Profit/loss from associated companies was SEK -2 m (-198),  which are results from associated companies Ankarhagen and Vincero Fastigheter of about SEK 1 m and SEK -4 m respectively, as per the equity method.
· Changes in the value of investment properties amounted to SEK 0 m (0).
· Profit/loss before tax for the period was SEK -8 m (-204).
 
 
SIGNIFICANT EVENTS JULY – SEPTEMBER 2023
· In the beginning of the third quarter, the remaining shareholder loans of SEK 104 m were repaid.
· During the period, Holmström Fastigheter refinanced 68% of existing bank debt, hence extending the average duration of the existing bank debt from 0.3 years to 2.7 years.
 
 
SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER
· After the end of the quarter, Holmström Fastigheter extended the duration of the short term liabilities of SEK 127 m for one year. 

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