Magnolia Bostad (MAG) Q4 2024 earnings summary

Executive summary

• Completed over 3,500 homes in 2024, bringing total to 13,000+ since 2009.

• 2024 marked by challenging market conditions and significant operating losses.

• Streamlined project portfolio and executed property sales with underlying value of SEK 2.6 bn.

• Refinanced all outstanding bonds and issued a new SEK 825 m bond in early 2025, improving financial position.

• Strategic shift to focus on sales, reclassifying all management properties to development and project properties.

Financial highlights

• Net sales for 2024: SEK 1,643 m (305), operating loss: SEK 976 m (-595), net loss after tax: SEK 1,247 m (-868).

• Q4 net sales: SEK 164 m (71), operating loss: SEK 329 m (-180), net loss after tax: SEK 392 m (-252).

• Gross profit/loss for 2024: SEK -580 m (-147); Q4: SEK -185 m (-83).

• Equity/assets ratio at year-end: 26.2% (31.2%).

• Cash and cash equivalents at year-end: SEK 128 m (331).

Outlook and guidance

• Focus on stable, long-term value growth by developing sustainable housing in metropolitan areas.

• Brighter economic forecast for 2025, with improving financing conditions and increased investor interest.

• New financial target: equity/assets ratio of at least 25%.