JM: Year-End Report 2013
STABLE END TO THE YEAR – STRONG CASH FLOW
STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
● According to segment reporting revenue decreased to SEK 12,652m (13,134) but operating profit increased to SEK 1,576m (1,398). The operating margin increased to 12.5 percent (10.6)
● Restated in accordance with IFRIC 15, revenue amounted to SEK 12,603m (12,480) and operating profit increased to SEK 1,523m (1,374)
● Profit before tax increased to SEK 1,464m (1,318). Profit after tax increased to SEK 1,104m (961)
● Return on equity for the past twelve months increased to 25.0 percent (21.9). Earnings per share during the year increased to SEK 14.10 (11.70)
● Consolidated cash flow including net investment in properties decreased to SEK 898m (979)
● The number of sold residential units increased to 3,265 (2,952) and housing starts decreased to 2,953 (3,163). Limited number of housing starts in JM International
● Surplus value of development properties SEK 2.4bn (2.6)
● The Board of Directors proposes a dividend of SEK 7.25 (6.75) for 2013, as well as renewed buyback authorization.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 13 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Large Cap segment.
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