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Aros Bostad’s report for Q1 2022 shows good sales and doubled operating profit
Regulatorisk information
Aros Bostadsutveckling AB publ (”Aros Bostad”) delivers a quarterly report for the first quarter of 2022 showing increasing operating profit and good sales. To provide a better view of Aros Bostad’s total revenue and increase transparency and comparability with other peers, the income and project costs will be gross accounted in the segment reporting as of 1 January 2022. Previously, it has been net accounted as income. The new accounting principles are not affecting the result.
The period January – March 2022
• According to the segment reporting, the total operating income amounted to 149,691 TSEK (69,616). The gross result amounted to 40,275 TSEK (27,724) and the gross margin was 26.9 percent (39.8).
• According to the segment reporting, operating profit amounted to till 20,778 TSEK (10,482) and the operating margin was 13.9 percent (15.1). The profit for the period, according to segment reporting amounted to 20,249 TSEK (10,027).
• Operating income for the period, according to IFRS, was 8,430 TSEK (69,296) and operating profit was -9,285 TSEK (56,368). 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.
• 29 (71) apartments have been handed over to buyers during the period, the number of
profit recognized apartments, according to IFRS, were 29 (110).
• The number of sold units during the period amounts to 93 (94).
• A total of 78 percent (69) of the units in production are sold or booked.