Magnolia Bostad (MAG) Q2 2025 earnings summary

Executive summary

• Over 1,000 new residencies sold in H1 2025, with two major projects forward funded in Kista and Tyresö, strengthening liquidity and reducing debt.

• Completed and delivered over 700 residencies; on track to surpass 15,000 delivered units since 2009 by year-end.

• CEO announced intention to step down once a successor is appointed.

• Cost-saving measures initiated last year are beginning to show effects, with full impact expected in coming quarters.

• Market conditions are improving, with inflation nearing target and policy rates declining, supporting future sales.

Financial highlights

• Net sales for Jan–Jun 2025 were SEK 382m, down from SEK 1,331m year-over-year; Q2 net sales were SEK 344m (Q2 2024: SEK 1,279m).

• Operating loss for Jan–Jun 2025 was SEK 161m (2024: SEK -548m); Q2 operating loss was SEK 97m (Q2 2024: SEK -423m).

• Loss after tax for Jan–Jun 2025 was SEK 284m (2024: SEK -691m); Q2 loss after tax was SEK 150m (Q2 2024: SEK -482m).

• Gross loss for Jan–Jun 2025 was SEK 77m (2024: SEK -330m).

• Cash and cash equivalents at period end were SEK 321m, up from SEK 128m at the start of the year.

Outlook and guidance

• Expectation of further interest rate cuts during 2025, anticipated to improve conditions for new rental property sales.

• Several acquisition and sales discussions ongoing, with good opportunities for new deals.

• Cost-saving measures to be fully realized in coming quarters.