Half-year report January – June 2018
Summary January-June 2018
- Rental income increased to SEK 1 281 million (1 156).
- Profit from property management increased to SEK 716 million (629).
- Changes in value of properties amounted to SEK 800 million (802) and changes in value of financial instruments to SEK 30 million (101).
- Profit after tax for the period increased to SEK 1 455 million (1 320).
- Market value of investment properties amounted to SEK 41 597 million (35 969).
- During the period, 13 properties (19) were acquired for SEK 1 167 million (1 847) and 10 properties (36) were divested for SEK 866 million (1 593).
- Hemsö’s operations continued to show stable growth in the second quarter. Profit from property management rose 14% and totalled SEK 716 million the first half-year 2018. The growth in profit from property management was mainly driven by completed development projects, acquisitions and a lower average interest rate. Hemsö also performed favourably in an identical portfolio, where net operating income rose 4% , says Nils Styf.
For more information, please contact:
Nils Styf, CEO +46 8 501 170 01
Rutger Källén, CFO +46 8 501 170 35
Hemsö is Sweden’s leading private owner of properties for community services. The business is based on owning, managing and developing properties for nursing homes, education, health care and premises for the judicial system. Hemsö has properties in Sweden, Germany and Finland. The hallmarks of Hemsö’s business are long-term leases and stable tenants. The Third Swedish National Pension Fund is the majority owner. The total value of Hemsö’s property portfolio is SEK 41.6 billion. Hemsö’s credit rating from Standard & Poor’s has been A- since March 2015. More information can be found at: www.hemso.se