Bonava Group: Bonava's interim report for the third quarter 2024: Increased number of sold and started housing units
- Net sales amounted to SEK 1,431 M (2,765)
- Operating gross margin amounted to 10.0 per cent (7.4)
- Operating EBIT amounted to SEK -19 M (30) and operating EBIT margin was -1.3 per cent (1.1)
- Operating cash flow amounted to SEK 489 M (188)
- Cash flow before financing activities amounted to SEK 335 M (197)
- Earnings per share, before and after dilution, was SEK -1.23 (-12.25)
- The number of housing units sold was 524 (469)
- The number of production starts was 411 (388)
- Net sales amounted to SEK 5,050 M (8,281)
- Operating gross margin amounted to 9.6 per cent (9.0)
- Operating EBIT amounted to SEK 1 M (197) and operating EBIT margin was 0.0 per cent (2.4)
- Operating cash flow amounted to SEK 1,001 M (-470)
- Cash flow before financing activities amounted to SEK 160 M (-223)
- Earnings per share, before and after dilution, was SEK -2.55 (-13.36)
- The number of housing units sold 1,226 (1,137)
- The number of production starts was 1,034 (939)
*Recognised revenue and profit pertain to continuing operations at the end of the period.
President and CEO Peter Wallin comments:
"We are seeing a clear improvement in the housing market, with increased demand and rising household purchasing power. However, the return to a normalised situation will take time. The consumer segment is increasing significantly from a low level, and we are seeing greater interest in investor transactions. The expected low business volumes in the quarter were countered with the previously announced cost-saving measures that have now been implemented. We will have achieved our undertaking of SEK 1 Bn in annual gross savings as of the beginning of January 2025. An improved cash flow for the period has further reduced our interest-bearing net debt."
Report presentation today at 09.00 a.m. CEST
The report will be presented in English by President and CEO Peter Wallin and CFO Lars Ingman at 09.00 a.m. CEST.
To participate in the telephone conference, please register at:
https://service.flikmedia.se/teleconference/?id=100424 (https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fservice.flikmedia.se%2Fteleconference%2F%3Fid%3D100424&data=05%7C02%7CFredrik.Hammarback%40bonava.com%7Cd387fe1b7f03498f2ab808dce38c906a%7Ccb0bb6f8f7864d739dfd5ff0cd9a4b03%7C0%7C0%7C638635440086522517%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=ivcQdUYV6XJDRMtNnEPvitLdqpQnxlqJR1WnJSauLI8%3D&reserved=0)
After registration you will be provided with a phone number and a conference ID to access the conference. To ask questions, please follow the webcast and post your questions in the chat or call in and dial *5 on your phone.
The presentation materials and a recorded version of the conference will be available for download from bonava.com (http://www.bonava.com/).
For more information, please contact:
Fredrik Hammarbäck, Group Head of Press and Public Affairs
fredrik.hammarback@bonava.com
Tel: +46739056063
This information is such that Bonava AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 a.m. CEST on 24 October 2024.
Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. With its 1,300 employees, Bonava develops residential housing in Germany, Sweden, Finland, Estonia, Latvia and Lithuania. To date, the company has built about 40,000 homes and reported net sales of approximately SEK 13 billion in 2023. Bonava's shares and green bond are listed on Nasdaq Stockholm.
For more information about us, visit: www.bonava.com