JMNasdaq StockholmConsumer DiscretionaryIFRS · SEK

JM

JM AB is a Swedish residential property developer headquartered in Stockholm, specializing in the development of residential units and living environments. The company operates primarily in Sweden, with significant activities in Norway and Finland, focusing on the entire value chain from land acquisition to finished residential products.

Revenue10.7bn SEK
−25.1 %y/y
Operating profit (EBIT)97.0m SEK
−86.0 %y/y
EBIT margin0.9%
−3.9 ppy/y
Net income56.0m SEK
−84.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

05101520bn SEK2021: 15.7 bn SEK2021: EBIT 2.2 bn SEK20212022: 15.7 bn SEK2022: EBIT 2.0 bn SEK20222023: 16.0 bn SEK2023: EBIT 1.5 bn SEK20232024: 14.3 bn SEK2024: EBIT 0.69 bn SEK20242025: 10.7 bn SEK2025: EBIT 0.10 bn SEK2025TTM 2026: EBIT 0.21 bn SEKTTM0.21
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Residential Development70 %

Includes planning, construction, and sale of residential units.

Land Acquisition15 %

Involves acquiring and developing land for future projects.

Pre-construction Services10 %

Covers planning and preparation before construction begins.

After-sales Services5 %

Includes customer service and warranty management post-sale.

Customers

JM's customers primarily include individual homebuyers and investors seeking high-quality residential units. The company focuses on providing a seamless customer journey from planning to after-sales, ensuring transparency and quality in construction and materials. Customer satisfaction is a key focus, with regular surveys and feedback mechanisms in place.

Homebuyers

Purchase residential units for personal use, valuing quality and transparency.

Investors

Invest in residential properties for rental or resale, seeking profitable returns.

Corporate Clients

Engage in bulk purchases or partnerships for residential projects.

Strategy

JM's strategic priorities include shortening lead times, owning the entire value chain, and enhancing productivity through initiatives like the Productivity Boost. The company aims to achieve profitable sustainability and expand its addressable market by optimizing its building rights portfolio and broadening its offerings.

Shorten Lead TimesMedium term

To increase productivity and reduce costs

Own Entire Value ChainLong term

Ensures adherence to standards and lowers costs

Productivity BoostShort term

Implement structural efficiencies

Geography

JM operates primarily in Sweden, with notable activities in the Greater Stockholm area. The company also has significant operations in Norway and Finland, focusing on expanding its market presence in these regions. The geographic focus allows JM to leverage local market expertise and optimize its project portfolio.

Risks

JM faces risks from market fluctuations, geopolitical uncertainties, and climate-related challenges. The company also deals with financial risks related to capital turnover and project margins, which can affect profitability and growth targets.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market Fluctuations1Climate-Related Risks2Geopolitical Uncertainties3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market FluctuationsImpact: HighLikelihood: High

    Affects housing demand and prices

  2. Climate-Related RisksImpact: HighLikelihood: Medium

    Require adaptation and mitigation strategies

  3. Geopolitical UncertaintiesImpact: MediumLikelihood: High

    Impact project timelines and costs

Accounting

Judgemental items
Revenue Recognition

Affects timing and amount of revenue reported

Warranty Provisions

Impacts project costs and liabilities

Lease Accounting

Affects balance sheet and financial ratios

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026