JM divides business segment JM International into two new reporting segments

As of January 1, 2023, the business segment JM International will be divided into two new reporting segments: JM Norway and JM Finland.

 

This decision is in line with JM's strategy to be the leading residential project developer in the Nordic region.

- JM's Finnish operations have shown significant organic growth in recent years and have also grown in 2022 through business acquisition. We see continued growth potential on both the Finnish and the Norwegian markets, and the next natural step is thus to break down our foreign segment in order to be able to follow the operations and development potential in each country more clearly, says Johan Skoglund, President and CEO of JM.

 

Description of JM's new reporting segments

JM Norway
JM Norway will include residential project development in Norway. Operations will also include acquisitions of development properties, planning, pre-construction, and production and sales of residential units in Norway. JM Norway's net sales currently represent approximately 21 percent of the Group's total net sales.

JM Finland
JM Finland will include residential project development in Finland. Operations will also include acquisitions of development properties, planning, pre-construction and production and sales of residential units in Finland. JM Finland's net sales currently represent approximately 10 percent of the Group's total net sales.

Financial reporting
During 2022, JM reported JM Norway and JM Finland separately under the JM International business segment in the interim reports.

For additional information, please contact:
Carl Bandhold, CFO, Head of IR
E-mail [e-mail]   Tel [phone]

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 and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 15 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.

https://news.cision.com/jm/r/jm-divides-business-segment-jm-international-into-two-new-reporting-segments,c3706478

https://mb.cision.com/Main/1261/3706478/1817734.pdf

(c) 2023 Cision. All rights reserved., source Press Releases - English