Aros Bostad’s interim report shows strong operating profit and increasing production volumes, despite a challenging market

2023-05-12 07:00

Regulatorisk information

Aros Bostadsutveckling AB publ (”Aros Bostad”) delivers increased revenue, good project margins and strong operating profit during the first quarter of 2023. The ratio of booked or sold residential units in production is continuously high, due to a low number of apartments for sale following the strategic decision to divest a large part of the project portfolio as residential rental apartments. The production of a rental project in Solna was started during the period and the design and build contract for a new tenant-ownership project in Huddinge was signed after the period.

The period January – March 2022

• According to the segment reporting, the total operating income amounted to 389,212 TSEK (149,691). The gross result amounted to 75,397 TSEK (40,275) and the gross margin was 19.4 percent (26.9).

• According to the segment reporting, operating profit amounted to till 48,834 TSEK (20,778) and the operating margin was 12.5 percent (13.9). The profit for the period, according to segment reporting amounted to 41,586 TSEK (20,249).

• Operating income for the period, according to IFRS, was 496,241 TSEK (8,430) and profit was 66,948 TSEK (–9,814). 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 Alba 1, Eds Allé and Kavalleristen.
• 188 (29) apartments have been handed over to buyers during the period, the number of profit recognized apartments, according to IFRS, were 252 (29). 

• The number of sold units during the period amounts to 10 (93).

• A total of 91 percent of the units in production are sold or booked.

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 12-05-2023 07:00 CET.

About Aros Bostad

Founded in 2006, Aros Bostad develops thoroughly planned residential housing, with healthy materials and timeless designs. The geographical market is primarily focused to 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. As per 31 March 2023, the company has 63 residential development projects in different stages of development corresponding to ca 6,500 units. 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
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

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