Samhällsbyggnadsbo. i Norden

Earnings Release • Aug 30, 2024

Press release 30 August 2024

Correction regarding the consolidated cash flow statement for the second quarter 2024

Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") published on 28 August 2024 the interim report for January-June 2024 in which errors have been identified after the publication. The errors are attributable to the human factor. SBB has produced a correction sheet for the interim report for January-June 2024 which is available on SBB's website. It should be read together with the interim report published on 28 August 2024. The errors identified and corrected relate to the omission of two lines in the Consolidated cash flow statement, condensed on page 22 in the report. This relates to the lines Redemption of hybrid bonds and Buy-back shares, class-D in Financing activities. See table below for more information.

	1 Jan 2024	1 Jan 2023	1 Apr 2024	1 Apr 2023	1 Jan 2023
Amounts in SEKm	30 Jun 2024	30 Jun 2023	30 Jun 2024	30 Jun 2023	31 Dec 2023
Operating activities
Profit before tax, continuing operations	-4,805	14,229	-3,502	-10,107	-21,179
Profit before tax, discontinued operations	-	-833	-	-997	-6,090
Adjustment for non-cash flow items
Depreciation	10	2	5	-	6
Changes in value, property	3,579	8,284	1,595	5,952	18,051
Dissolution of goodwill following	320	78	320	78	797
property sales
Goodwill impairment	-	-	-	-	1,794
Results, production of residentials	14	2	13	-	17
Profit from joint ventures and	1,987	3,661	1,795	3,292	6,017
associated companies
Changes in the value of financial	34	1,949	21	750	2,580
instruments
Dividends from joint ventures and	131	282	131	282	283
associated companies
Net interest income	-231	3,129	143	2,051	1,818
Interest paid	-911	-1,094	-577	-470	-2,236
Interest received	146	146	77	91	220
Paid tax	-287	-460	-120	-291	-856
Cash flow from operating activities	-13	917	-100	632	1,222
before changes in working capital
Cash flow from changes in working capital
Increase (-)/Decrease (+) of operating receivables	-282	139	6	660	1,057

liabilities Cash flow from operating activities -478 1,378 -366 Investment activities Investments in properties -566 -1,767 -430 Acquisitions of subsidiaries less acquired -400 -753 -199	450 -824 -3 229	1,350 -2,901 -1,629
cash and cash equivalents
Disposals of subsidiaries less cash and 9,832 296 5,814		12,675
cash equivalents
Investments/divestitures in equipment, - -71 -	-1	-75
machinery and installations
Investments/disposals in joint ventures -173 2,564 -173	2,717	2,470
and associated companies
Change in receivables from joint ventures -105 -476 -7	-443	781
and associated companies
Cash flow from financial assets 341 663 336	819	-194
Change in other non-current receivables -15 -1,063 -22	-1,172	-998
Cash flow from investing activities 8,915 -606 5,320	1,323	10,129
Financing activities
Issue of warrants 12 - 12 -		-
Repurchase warrants - -4 - -		-5
Repurchase compulsory convertibles - - -	-4	-
Redemption of mandatory convertible - -2 -	-2	1
Redemption of hybrid bonds -713 - - -		-
Dividend paid - -1,652 -	-770	-1,659
Buy-back shares, class-D -352 - -352 -		-
Divestiture to minority - 8,654 -	-9	9,057
Contribution from minority 18 - - -		-
Redeemed minority 47 -680 47	-680	-
Borrowings 3,409 23,250 3,409	7,758	21,544
Repayment of loans -8,938 -31,182 -5,229	-11,860	-38,885
Change in cash collateral - -2,178 - -		-2,048
Changes in other non-current liabilities -38 275 -93	212	-52
raised
Cash flow from financing activities -6,555 -3,520 -2,206	-5,356	-12,047
Cash flow for the period 1,881 -2,748 2,747	-3,583	-568
Cash and cash equivalents at the 3,845 4,429 3,003	5,299	4,429
beginning of the period
Cash flow for the period 1,881 -2,748 2,747	-3,583	-568

Translation gains/losses in cash and cash equivalents	20	-2	-4	-37	-16
Cash and cash equivalents at the end of the period	5,747	1,679	5,747	1,679	3,845

For further information, please contact:

Helena Lindahl, Treasury Director, ir@sbbnorden.se, press@sbbnorden.se

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region's leading property company in social infrastructure. The Company's strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company's series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at www.sbbnorden.se.