Overview
Nordic housing developer's revenue fell yr/yr, impacted by impairments in development properties
Company's housing starts increased to 2,270 units, while residential units sold decreased
Board proposed reduced dividend of SEK 2.00 for 2025
Outlook
JM is well-positioned for a recovery in the housing market
Board proposes dividend of SEK 2.00 for 2025
Result Drivers
HOUSING STARTS - Increase in housing starts to 2,270 units, indicating potential future growth
IMPAIRMENTS - Operating profit impacted by SEK 105m impairment in development properties
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
SEK 9.98 bln
FY EPS
SEK 0.97
FY Net Income
SEK 63 mln
FY EBIT
-SEK 105 mln
FY EBIT Margin
4.00%
FY Pretax Profit
SEK 136 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the homebuilding peer group is "buy"
Wall Street's median 12-month price target for JM AB is SEK145.00, about 3.6% above its January 29 closing price of SEK140.00
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 17 three months ago
Press Release: ID:nMFN5nPGDd
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
