Interim Report January – March 2016

  • Profit after tax for the period was SEK 738 million (447), equivalent to SEK 3.58 per share (2.17). The increase is due mainly to higher unrealized changes in the value of the property holdings.

  • Gross profit from the Group amounted to SEK 305 million (284), an increase of 7 per cent. The increase can be attributed largely to higher rental revenue.

  • Consolidated net revenue amounted to SEK 431 million (413), an increase of 4 per cent.

  • The fair value of the property holdings was SEK 32,655 million (31,740 at the turn of the year), resulting in a net asset value of SEK 119 per share (118 at the turn of the year), following a deduction of the dividend paid of SEK 3.10 per share. Unrealized changes in value for the period totalled SEK 689 million (366).

  • The equity ratio was 59 per cent (57), the net loan-to-value ratio was 18 per cent (18) and the interest coverage ratio multiple was 9.0 (9.1).

  • The rental vacancy level at the period-end was 4.3 per cent (6.5). Excluding projects in progress, the rental vacancy level was 2.3 per cent (5.5).

  • The acquisition of the Inom Vallgraven 3:2 property in central Gothenburg was completed on March 1 with a property value of SEK 82 million.

Stockholm, May 3, 2016

HUFVUDSTADEN AB (publ)

 

Ivo Stopner
President
 

Appendix: Interim Report January – March 2016

The information in this Interim Report is information that Hufvudstaden AB (publ) is obliged to publish according to the Securities Market Act and/or the Financial Instrument Trading Act. The information was published on May 3, 2016.

Questions can be answered by Ivo Stopner, President, or Ingvor Sundbom, Head of Finance, telephone +46 (0)8-762 90 00. 

About Us

Hufvudstaden provides office and retailing premises in prime locations in Stockholm and Gothenburg. The Company was founded in 1915 and is today one of Sweden's largest listed property companies and one of the strongest brands in the country in the property sector.