Magnolia likes light shade, dislikes very strong sunshine, doesn't like exposure to cold and strong winds, likes, moist, rich soil. You don't say where yours is planted, or whether its in the ground or in a pot. This particular Magnolia will usually flower in its first year, so something about the conditions doesn't suit yours. If you have it planted in light shade, in humus rich soil that doesn't dry out, and its not exposed to very cold winds, or in a windy spot, there is something else you can try to see if it will flower, though it's a bit late for this year.