Summary of July -
· Net sales totaled 32.0 (140.5) MSEK.
· Adjusting operating profit was 10.5 MSEK (-26.4). The West Side Solna and Metronomen co-op projects contributed 23.3 MSEK to profits for the quarter.
· Cash flow from operating activities was -35.2 MSEK (-31.1). The West Side Solna project contributed 24.0 MSEK, production of the Platform West project had a negative impact of -20.9 MSEK.
· West Side Solna cooperative apartment project sold out, buyers took possession of all 252 homes by the end of the quarter.
· SSM acquired all shares in the half-owned joint venture company Studentbacken, which has about 280 building rights in Bromma, Sollentuna and Täby, for 2.0 MSEK.
· Before continuing planning for central Telefonplan, the
Summary of January -
· Net sales increased to 135.6 MSEK (176.2).
· Adjusting operating profit was 17.6 MSEK (-58.9). The West Side Solna and Metronomen c-op projects contributed 49.2 MSEK to profits.
· Cash flow from operating activities totaled -100.8 MSEK (-97.4). The start of production of the Platform West project had a negative impact of -97.7 MSEK, the divestment of the
· Start of production of the Platform West co-op project (109 homes) in Roslags-Näsby/Täby.
· Rights issue of 157.0 MSEK fully subscribed. The company's outstanding bond loan was extended by two years until
Significant events after the balance sheet date
· On
· Change of JV-partner for SSM's Elverket Nacka JV-project after
"The co-op market was strengthened during the quarter. Transaction volumes reached new highs and apartment prices followed upward. That said, due to the increased spread of the Covid-19 virus during the fall, it is too early to conclude if this marks a long-term stabilization of
"The adjusted operating profit was 10.5 MSEK (-26.4). The West Side Solna and Metronomen projects contributed 23.3 MSEK. The positive development is thanks to SSM's work to optimize its operations, reduce fixed costs and lower risks in the portfolio."
"During the year, SSM has strengthened the company's financial position substantially. Cash flow from operating activities has been impacted by forward-looking investments in projects under development and in the start of production of the Platform West co-op project. In addition to cash and cash equivalents in the Group, SSM's joint venture companies had 430.0 MSEK in cash and cash equivalents on the balance sheet date."
"On
The information in this press release is such, which
For more information, please
contact:
Mattias Lundgren
President & CEO
Email: Email: ann-charlotte.johansson@ssmliving.se
mattias.lundgren@ssmliving.se
Phone: +46 (0)761-65 17 71
About
SSM produces smart, affordable homes with attractive shared spaces close to public transport and the city center for its target group - tomorrow's urbanites. SSM envisions a housing market for as many people as possible and today, the company is the leading property developer in its niche within the
https://news.cision.com/ssm/r/stronger-results-and-financial-position,c3235633
https://mb.cision.com/Main/11507/3235633/1333990.pdf
(c) 2020 Cision. All rights reserved., source