Besqab's interim report for January-March 2024 shows a high production volume and high sales rate in ongoing production

The integration of the companies is ongoing under the name Besqab, with the clear ambition to form a leading residential developer in Greater Stockholm and Uppsala. At the end of the quarter, 2,268 residential units were under production and the building rights portfolio amounted to 7,871 units, split on 75 future residential projects in 24 municipalities in the Greater Stockholm region and Uppsala. The sales rate in ongoing production amounts to 86 percent.

Magnus Andersson, CEO Besqab says:

”Demand for quality housing in the Greater Stockholm area is expected to increase again in line with a reduced supply of newly produced housing and a stabilized interest rate situation. We are well prepared to start production of new residential development projects as the market improves. With a building rights portfolio consisting of almost 8,000 future residential units in attractive locations, our ambition is to maintain a rolling production volume of 2,000 units in ongoing production.”
 

The period January–March 2024

» According to the segment reporting, the operating income amounted to SEK 461 M (389). The gross profit amounted to SEK 63 million (75) and the gross margin was 13.6 percent (19.4).

 » According to the segment reporting, the operating profit amounted to SEK 20 million (49) and the operating margin was 4.4 percent (12.5). The period's result amounted to SEK 9 M (42). Earnings per share before and after dilution amounted to SEK 0.15 (0.87).

 » According to the segment reporting, the equity ratio at the balance sheet date amounted to 62.5 percent (71.2), equity amounted to SEK 3,609 M (1,935) and total assets amounted to SEK 5,771 M (2,719).

» According to IFRS, net sales amounted to SEK 389m (496), the operating margin was negative (14.4). The period's result amounted to SEK -55 million (67). Earnings per share before and after dilution amounted to SEK -0.89 (1.40).

 » According to IFRS, the equity ratio at the balance sheet date amounted to 38.2 percent (59.1), equity amounted to SEK 3,236 M (1,614) and total assets amounted to SEK 8,465 M (2,732).

» The percentage of booked or sold residential units in ongoing production amounted to 86 percent (91). The number of residential units sold during the period amounted to 38 (10).

» The number of residential units accessed by tenant-owners during the period amounted to 95 (188). The number of units recognized as profit according to IFRS amounted to 245 (252).

Certified Adviser for Besqab AB (publ) at Nasdaq First North Growth Market is Carnegie Investment Bank AB (publ).

This information is information that Besqab AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU 596/2014). The information in this press release has been made public through the agency of the responsible person set out below for publication at the time stated the Company's news distributor, Cision, at the publication of this press release.