Bonava AB Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2016
January 25, 2017 at 04:47 am
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Bonava AB (publ) reported unaudited consolidated earnings results for the fourth quarter and year ended Dec. 31, 2016. For the quarter, the company reported net sales of SEK 6,584 million compared to SEK 7,314 million a year ago. Operating profit was SEK 985 million compared to SEK 1,015 million a year ago. Profit after financial items was SEK 918 million compared to SEK 939 million a year ago. Profit for the period after tax was SEK 717 million compared to SEK 723 million a year ago. Cash flow before financing was SEK 1,428 million compared to SEK 2,131 million a year ago. Earnings per share were SEK 6.61 compared to SEK 6.67 a year ago. The decrease in Net Sales were mainly due to a lower number of housing units handed over to investors in Germany and Finland, while net sales to consumers increased. The decrease in operating profit is attributable to lower net sales from investors, while profit/loss from consumers improved somewhat. Net profit for the period attributable to the company’s shareholders was SEK 715 million against SEK 692 million a year ago. Cash flow from operating activities was SEK 1,489 million against SEK 2,100 million a year ago.
For the year, the company reported net sales of SEK 13,492 million compared to SEK 13,070 million a year ago. Operating profit was SEK 1,562 million compared to SEK 1,377 million a year ago. Profit after financial items was SEK 1,283 million compared to SEK 1,033 million a year ago. Profit for the period after tax was SEK 1,004 million compared to SEK 798 million a year ago. Cash flow before financing was SEK 536 million compared to SEK 1,437 million a year ago. Earnings per share were SEK 9.26 compared to SEK 7.36 a year ago. Net debt was SEK 3,699 million against SEK 4,216 million a year ago. The increase in Net Sales were sourced from more housing units for consumers with higher average prices, while revenues from investors and land sales were lower than the previous year. Net debt was lower due to strong cash flow in the fourth quarter. Net profit for the period attributable to the company’s shareholders was SEK 1,003 million against SEK 768 million a year ago. Cash flow from operating activities was SEK 708 million against SEK 1,450 million a year ago.
Bonava publ AB is a Sweden-based company, which is primarily involved in real estate development industry. The Company operates as a developer of housing units to consumers and investors in Sweden, Germany, Finland, Denmark, Norway, the Russian Federation, Estonia and Latvia. In Germany, the Company's offering is targeted at consumers and investors through both single-family houses and multi-family houses. The Company operates on the basis of an own-produced construction system in Germany, which is used in all new construction, thus enabling an efficient construction process. In Estonia and Latvia, the Companyâs offering is primarily targeted at consumers, based on multi-family houses. In Russia, it operates solely in Saint Petersburg region with offering comprises of multi-family houses.
BONAVA AB 
