JM AB (publ) (JM) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

...presentation of JM's book signing communiqué for the whole year and the fourth quarter of 2024. 2024 was probably the year when the housing market reached the bottom of this cycle. Now there are positive winds blowing on all our markets, even if we see that the recovery will take a little different time. We will happily show in our report now that our strong building rights portfolio combined with Attractive projects in attractive locations and competitive production costs have made that we have increased sales significantly during 2024. We have increased it by 46%. This has also led to us being able to increase production starts significantly. They have increased by 39% during the year. So that is very positive. But the challenges remain. The industry and J&M have struggled with lower housing prices than when they were the highest, higher production costs, and this has pressed the margins and the results during the year. This pressure will also affect the results and margins in the coming years. We complete projects with given conditions, and we have a project mix that contains lower margins on average in what is currently in operation and delivering results, than what it was before the conjecture entered its bottom. With that said, the underlying long-term market conditions are still good, and we see a surplus of housing on all of our markets. We at JM do not expect that the 30% increase in costs that we have seen will go down with interest rates and after the market recovers. Instead, we take a business responsibility to work with reducing production costs and also short lead times. JM's market-leading position in this growing market that we now see, makes me see the future positively. And that feels good. Från dessa övergripande stora drag så går vi in på deta...