Aros Bostad delivers a robust interim report for January - September 2022 with significantly increased operating profit and high sales ratio

2022-11-17 07:00

Regulatorisk information

Aros Bostadsutveckling AB publ (”Aros Bostad”) delivers an interim report for January to September 2022 showing increased operating profit and historically high sales levels in the twelve projects which are under construction. During the third quarter, a binding agreement was signed with ALM Equity regarding acquisition of a portfolio with 1,505 building rights, corresponding to 34 project opportunities. As a first step, 23 of the projects were handed over in October 2022.

Magnus Andersson, CEO Aros Bostad, comments:
”The long term conditions for the residential market are still good, even though the residential market has decreased in short time, driven by increasing interest rates and increased risk for a weaker economy. Aros Bostad has handled market downturns before and I am convinced that we - with an attractive portfolio, building rights in unique places, historically high sales ratio and stable financing together with a competent and experienced organization - are well suited to handle the instability going forward.”

The period January – September 2022

• According to the segment reporting, the total operating income amounted to 678,559 TSEK (365,154). The gross result amounted to 138,149 TSEK (102,093) and the gross margin was 20.4 percent (28).

• According to the segment reporting, operating profit amounted to till 71,383 TSEK (39,247) and the operating margin was 10.5 percent (10.7). The profit for the period, according to segment reporting amounted to 69,157 TSEK (37,120).

• Operating income for the period, according to IFRS, was –22,916 TSEK (45,574) and operating profit was –25,142 TSEK (43,805). Revenue recognition according to IFRS is created at the time when the main part of the units has been handed over to customers. Handover and profit recognition, according to percentage of completion method, was done for O2 Orminge, Invernesshöjden and Milstena Skarpäng.

• The number of profit recognized apartments, according to IFRS, were 58 (233). 95 (216) apartments have been handed over to buyers during the period.

• A total of 88 percent (77) of the units in production are sold or booked.

• The number of sold units during the period amounts to 1010 (450).

Financial information in English at https://arosbostad.se/investerare/in-english/

This disclosure contains information that Aros Bostadsutveckling AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-11-2022 07:00 CET.

About Aros Bostad

Aros Bostad develops thoroughly planned residential housing, with healthy materials and timeless designs. The geographical market is primarily focused to areas with good public transportations within the greater Stockholm area, Uppsala and the Mälardalen region. With a long-term perspective and responsibility for the entire value chain, Aros Bostad creates a safe deal for home buyers as well as stable returns for the investors. The Company was founded in 2006 and had, as per 30 September 2022, 34 residential development projects in different stages of development corresponding to ca 5,000 units. During Q3 2022, a binding agreement was signed regarding acquisition of a portfolio with 1,505 building rights, corresponding to 34 project opportunities. 23 of the projects were handed over in October 2022. Aros Bostad is listed on Nasdaq First North Growth Market and the Certified Adviser is Erik Penser Bank. Financial information is to be found at www.arosbostad.se/investerare

For more information, please contact:

Magnus Andersson, CEO, e-mail: magnus.andersson@arosbostad.se, phone: +46 73 410 12 43
Ken Wendelin, CFO/Deputy CEO, e-mail: ken.wendelin@arosbostad.se, phone: +46 73 518 02 70 Anna Åkerlund, Head of Communications & IR, e-mail: anna.akerlund@arosbostad.se, phone: +46 70 778 28 97
Certified Adviser, e-mail: certifiedadviser@penser.se, phone: +46 8 463 83 00

Ladda ner