JM: Interim report January - June 2015

Regulatory New:

JM (STO:JM)

Good Demand in JM's Primary Markets, Strong Sales and a High Level of Housing Starts

· According to segment reporting, revenue increased to SEK 7,233m (6,521) and operating profit was SEK 771m (785). The operating margin decreased to 10.7 percent (12.0) due to a change in the project composition in JM Residential Stockholm

· Restated in accordance with IFRIC 15, revenue increased to SEK 6,785m (6,495) and operating profit amounted to SEK 722m (820). The restatement is related to JM International and had an effect on earnings of SEK –49m (35)

· Profit before tax decreased to SEK 691m (790). Profit after tax decreased to SEK 527m (599)

· Return on equity for the past twelve months was 28.8 percent (29.9). Earnings per share during the first six months of the year amounted to SEK 7.00 (7.80)

· Consolidated cash flow including net investment in properties was SEK 386m (290)

· The number of sold residential units increased to 1,940 (1,485) and housing starts increased to 1,777 (1,410).

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 emphasis 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 seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 15 billion and the company has about 2,300 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment.

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