Heimstaden AB Q1 2024 Results
Highlights (figures in brackets refer to same quarter last year): · The consistently strong operating environment saw NOI growth offsetting moderately expanding yields, leading to a 0.8% (-3.9%) increase in property values · Real economic occupancy of 98.3% (98.2%) · Rental income at SEK 3,876 million (3,698) and like-for-like rental growth of 5.2% (5.0%) · The NOI margin was 66.4% (64.9%) and the LTM NOI margin was 67.7% (64.9%) · Net LTV of 59.0% (54.9%) and ICR of 1.7x (2.4x) · The Privatisation Plan achieved a 31.5% premium to book value on 265 units sold.