Summary of the second quarter 2017. Net sales increased to 168.4 MSEK (130.1). Gross margin went up to 19.7% (17.6).

SSM Holding AB (publ) has established a joint venture with Partners Group, the global private markets investment managers. The cooperation includes the Tellus Towers, Järla Station and Metronomen projects. The combined value of the projects upon completion is estimated at approximately 7.6 SEK billion with a planned period of completion of five years from the date of agreement. The cooperation confirms SSM’s explicit joint venture strategy while further strengthening the SSM Group’s financing capacity. The joint venture has been established through the formation of a new holding company held 50 percent by SSM and 50 percent by Partners Group on behalf of its clients. The transaction will have a positive net effect of about 108 MSEK on SSM’s liquidity and an impact of about 106 MSEK on profits for the Q3 2017.

SSM Holding AB (publ), the leading property developer in the Stockholm region within affordable and space-efficient homes, is continuing to expand its operations by acquiring a housing project in Rotebro (Sollentuna) from Galjaden Fastigheter AB. The project will cover about 7,000 m2 of floor space that SSM intends to develop into approximately 150 cooperative apartments. The initial purchase price is 25 MSEK after which an additional purchase price will be applied once the project’s detailed development plan is approved. Sales is planned to start in the third quarter 2019 and the first tenants are expected to move in during the latter part of 2021.

After only two months of sales, SSM has achieved a sales rate of 80 percent in the Kosmopoliten project that is being developed in the attractive and growing Kista Äng residential area. Production of the project has now started and an initial profit was realized during the second quarter of 2017. Access to the land is expected during the first quarter of 2018 and following this, construction is planned to start at the beginning of 2019. The first tenants are expected to be able to move in during the latter part of 2021.