• Net sales for projects run entirely by SSM increased to 36.1 MSEK (58.2).
• Net operating profit was 1.0 MSEK (-33.6). 
• 165 tenants moved into the West Side Solna co-op project. The result will be delayed somewhat since the project is being run as a JV, result for the quarter was impacted by 23.1 MSEK. Tenants will continue moving in during 2020.
• Cash flow from operating activities totaled 33.5 MSEK (-2.8). Sale of Bromma Boardwalk project to Niam had a 27.1 MSEK impact on cash flow. 
• Land allocation for 150 co-op units in Sjöstadshöjden, Hammarby (Stockholm). Bromma Square project divested to existing joint venture partner, resulting in a decrease of 355 building rights in SSM's portfolio.
• Conditional agreement with majority of bondholders to extend current bond loan by 2 years.
• Full refinancing of property credits of 114.0 MSEK through 2-year agreement with Collector Bank.
• Peter Wågström appointed new Board member, CFO Casper Tamm to leave company in Q2 2020.

• Net sales for projects run entirely by SSM totaled 212.3 MSEK (652.5).
• SSM divested its contracting operations and a review of SSM's operations and current market situation was carried out. The review confirmed SSM's strong core but led to significant, non-cash impairment losses for the year.  
• Operating loss excluding revaluations and non-recurring items was -59.2 MSEK (65.3). Excluding revaluations and non-recurring items, the operating loss totaled -415.5 MSEK (51.8).
• Based on the review, SSM plans focus on rental projects and selected co-op projects in the near future. 
• Cash flow from operating activities was -63.9 MSEK (172.4).
• Production started for 178 rental units at Täby Turf and project taken over by property company Willhem.
• Mattias Lundgren appointed Interim CEO in June 2019. Mattias took over as permanent President & CEO in January 2020.

• On January 15, the company's main owner, Eurodevelopment, sold 11,600,000 shares (corresponding to 29.55 percent of the share capital and votes in SSM) to Amasten Fastighets AB through subsidiary and 3,800,000 shares (corresponding to 9.7 percent of the share capital and votes in SSM) to Gösta Welandsson.
• On February 4, 2020, SSM summoned a meeting with its bondholders through a procedure in writing to resolve on amending the terms and conditions of the bonds.
• Erik Lemaitre, EVP Business Development and member of SSM's Executive Management Team, announced he would leave SSM for another position during Q2 2020 at the latest.
• Agreement signed regarding divestment of the Järnet and half of Älvsjö Quarters projects, letter of intent regarding the sale of Tellus Towers to parties related to SSM.  
• Notice to attend an Extraordinary General Meeting on March 11, 2020 to resolve on the Board's proposal on a rights issue of shares or convertibles and to conclude the sale of the Järnet and Älvsjö Quarters projects. 
• Based on the company's new 5-year business plan, the Board of Directors has established new financial targets: Operating margin >10.0%, debt/equity ratio >40.0%, return on equity >15.0%. The dividend policy remains unchanged at >30% of the year's profits after tax.
• SSM's Finance Manager Ola Persson will become the company's CFO March 1, 2020.

Mattias Lundgren, President & CEO, comments on the year: 
"During 2019, we laid the foundation for growth and balanced risk-taking. We carried out a comprehensive review of our operations and strategies, optimized our business model, adopted a new business plan, created the conditions for long-term stable financing in both bond and property loans, secured an exit with positive cash flow from the Bromma Square and Bromma Boardwalk projects and delivered homes to our customers on schedule in the West Side Solna project.
Although Q4 showed positive results, profits for the year were impacted by significant revaluations and non-recurring items. SSM's business plan is focused on generating cash flow and strengthening the balance sheet.  In practice, this means prioritizing rental projects via forward funding in the near future. 

SSM has a strong core in the form of its target group, housing concept and microlocation of building rights near rail-bound public transport. SSM's projects match the needs of the market well and with a more stable financial position, SSM will be able to gradually realize the value contained in its strong portfolio of building rights in the coming years."
 

This information is information that SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out below, February 20, 2020 at 07:30 CET.

For more information, please  
contact:
Mattias Lundgren                 Ann-Charlotte Johansson 
                                 
President & CEO                  EVP Communication & IR 
                     
E-mail: E-mail: ann
mattias.lundgren@ssmliving.se  -charlotte.johansson@ssmliving.se 

  Phone: +46 (0)761-65 17 71 

About SSM Holding AB (publ) 
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for  the company's target group - the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible. SSM is the leading property developer in its niche within the Greater Stockholm area and at end of December 2019, the company has approximately 4,500 building permits in its portfolio. SSM has been listed on Nasdaq Stockholm's mainlist since April 6, 2017. www.ssmlivinggroup.com