Heimstaden

Heimstaden AB Q3 2024 Results

Fri, Oct 25, 2024 08:00 CET

Highlights (figures in brackets refer to same quarter last year): · Like-for-like rental growth of 6.3% (4.2%) and rental income of SEK 4,017 million (3,905) · Strong operating fundamentals leading to a 0.8% (-1.4%) increase in property values · Privatisation sales, for the quarter, reached SEK 2,409 million with 516 units sold at a 24.6% premium to book value · The NOI margin improved to 73.0% (69%) and the LTM NOI margin was 69.2% (66.4%) marking the 11th consecutive quarter of growth · Real economic occupancy of 98.7% (98.1%) · Net LTV of 57.4% (57.9%) and ICR of 1.

S&P Initiates Coverage and Assigns a B- rating to Heimstaden AB

Tue, Oct 08, 2024 13:45 CET

S&P Global Ratings (“S&P”) initiates coverage of Heimstaden AB (“Heimstaden”) and assigns an issuer rating of ‘B-’ with a Negative Outlook. The assignment of the S&P rating constitutes a “Positive Rating Event” under the hybrid bond documentation of ISIN SE0012455111.

Heimstaden AB Q2 2024 Results

Fri, Aug 16, 2024 08:00 CET

Highlights (figures in brackets refer to same quarter last year): ·The Privatisation Plan continued to deliver in line with ramp-up expectations as H1 total sales reached SEK 2,818 million. In the second quarter of 2024, 363 units were sold with a 29.0% premium to book value ·The NOI margin improved to 71.4% (69.0%) and the LTM NOI margin was 68.3% (66.2%) ·NOI growth offset slightly expanding yields, leading to a 0.4% (-2.1%) increase in property values ·Rental income at SEK 3,943 million (3,800) and like-for-like rental growth of 5.1% (5.7%) ·Real

No Substance to the Speculation

Mon, Apr 29, 2024 20:48 CET

The Swedish publication Dagens Industri today published an article where employees of Alecta are being investigated for trips to France and/or South Africa invited by Ivar Tollefsen, the chairperson of Heimstaden AB. There is no substance to the speculation as no Alecta employees have been on trips or stays invited or paid for by Heimstaden and/or Heimstaden AB's chairperson, Ivar Tollefsen.

Heimstaden AB Q1 2024 Results

Wed, Apr 24, 2024 08:00 CET

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.

Heimstaden 2024 Annual General Meeting

Thu, Apr 04, 2024 13:10 CET

Heimstaden AB has today held its Annual General Meeting 2024 and mainly resolved upon the following in accordance with the presented proposals: · Adoption of the 2023 Annual, Governance, and Sustainability Report and the proposal for the allocation of the Company’s result and dividend · Granted discharge from liability to the current and former Board Members, and the CEO, for their management in 2023 · Re-election of Ivar Tollefsen as Chairperson and John Giverholt and Fredrik Reinfeldt as Board Members. Bente Landsnes elected as new Board Member · Adoption of the proposal

Christian Fladeland Appointed co-CEO at Heimstaden AB Following Management Team Changes

Mon, Mar 18, 2024 09:15 CET

Christian Fladeland and Helge Krogsbøl will jointly serve as CEOs of the company. Christian will oversee Investments, Corporate Finance, and Capital Raising, while Helge will lead the Management Team, Group Operations, and the Country Organisations. Heimstaden prioritises continuous improvement, adjusting the Management Team today to enhance financial and operational performance further. Helge Krogsbøl comments:"I am pleased that Christian is stepping up as co-CEO alongside me. While it represents a marginal practical change, our aligned roles and complementary skills will further

Heimstaden to Receive Deferred Purchase Price from Fredensborg for the Sale of Icelandic Portfolio

Thu, Mar 07, 2024 18:15 CET

Following Heimstaden’s sale of Heimstaden ehf. to Fredensborg AS in October 2023, Heimstaden has today been notified by Fredensborg AS about its entry into a binding purchase agreement with SRE III slhf. (“Stefnir”).Upon transaction closure, Heimstaden will receive the net deferred purchase price of approx. SEK 750 million in cash inflow*, based on today’s SEK/ISK FX rate. Closing is contingent on Icelandic Competition Authority approval, expected by end March 2024. Deputy CEO Christian Fladeland comments:"We are pleased to receive notification of the binding purchase agreement

Fitch Lowers Rating for Heimstaden AB to ‘B’, revises Outlook to Negative

Tue, Feb 27, 2024 08:10 CET

Fitch lowers Heimstaden AB Long-Term Issuer Default Rating (IDR) to ‘B’ and revises Outlook to Negative from Rating Watch Negative.

Annual General Meeting in Heimstaden AB (publ)

Tue, Feb 27, 2024 08:02 CET

The English text is an unofficial translation of the Swedish original. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.The shareholders of Heimstaden AB (publ), reg.no. 556670-0455 (the “Company”), are hereby summoned to the annual general meeting on Thursday 4 April 2024, at 10:00 a.m. CEST at the Company’s premises on Carl Gustafs Väg 1, Malmö. Registration for the general meeting will commence at 09:30 a.m. CEST. Notice of attendance etc. Shareholders who wish to attend and vote at the general meeting must: both

Heimstaden: 2023 Annual, Governance, and Sustainability Report, SEK Hybrid Bond Interest Payments Deferral, and No-Dividend proposal on any share classes.

Tue, Feb 27, 2024 08:00 CET

Heimstaden AB publishes the 2023 Annual, Governance, and Sustainability Report and has decided to defer interest payments on SEK hybrid bonds and proposes to the AGM that no dividend on any share classes is paid.Highlights (figures in brackets: previous quarter): · The residential operating environment remains strong. Like-for-like rental growth increased to 5.6% (4.2%) and real economic occupancy increased to 98.4% (98.1%) · The NOI margin grew to 66.0% when compared to 61.8% a year ago and the FY NOI margin was 67.4% (66.4%) · Investment properties was valued at SEK 321 billion

Heimstaden Appoints Eva Møland Tørsleff as New Chief Legal Officer

Wed, Feb 21, 2024 11:30 CET

Eva Møland Tørsleff brings over 27 years of expertise in Nordic real estate as she joins Heimstaden as Chief Legal Officer 1 March 2024.Eva is a lawyer admitted to the Danish High Courts and Commercial High Court, earned her Master of Law from the University of Aarhus in 1996. She comes from the position as Head of Legal at Nordstern, and also carries experience from renowned Danish firms such as Plesner and Accura. Eva Møland Tørsleff comments:“I am thrilled about the opportunity to join Heimstaden, Europe's leading residential real estate company. Their ambitious goals in governance,

Chief Legal Officer Kristian Berentsen Resigns

Tue, Dec 19, 2023 15:19 CET

Chief Legal Officer Kristian Berentsen has decided to resign, effective 31 May 2024. “With an entrepreneurial mindset, we have built a competent and dedicated legal team across our markets. It has been a privilege to be part of this journey and I am confident in Heimstaden's ability to navigate market challenges with a solid foundation for the future”, says Kristian Berentsen. “Kristian has played a central role in scaling a legal and governance, risk, and compliance function for us as a Pan-European company. We appreciate his efforts and are pleased that he will stay with us until

S&P lowers Investment Grade Rating to ’BBB-’ for Heimstaden Bostad, Assigns Negative Outlook

Tue, Dec 19, 2023 15:07 CET

S&P Global Ratings lowers Heimstaden’s subsidiary Heimstaden Bostad’s long-term issuer credit rating to ‘BBB- ‘from ‘BBB’ and assigns Negative Outlook.S&P attributed the one-notch downgrade to forecasted declines in their interest coverage ratio (ICR) as they stated that “forecasts won't maintain EBITDA interest coverage of above 1.8x over the next 12-24 months”.Despite the downgrade, S&P states in their upside scenario that the outlook would be resolved if the “ICR remains close to 1.8x, Debt / Debt Plus Equity remains at or below 60%, and refinancing conditions are favourable, or

Heimstaden Changes Certified Adviser to Carnegie Investment Bank AB

Thu, Nov 30, 2023 11:01 CET

Heimstaden AB has entered into an agreement with Carnegie Investment Bank AB (publ) regarding the position as Certified Adviser and announces today the change from Erik Penser Bank AB to Carnegie Investment Bank AB (publ), effective from 30 November 2023.

Information regarding Swedish Financial Supervisory Authority (Finansinspektionen) report to the Swedish prosecutor regarding Alecta's investment in Heimstaden Bostad

Thu, Nov 16, 2023 11:50 CET

Alecta has published relevant information on their website: Alecta comments on Finansinspektionens report to the Swedish Prosecutor

Heimstaden Appoints Rita Berg Hansen as Group Director of Privatisation

Wed, Nov 01, 2023 08:00 CET

Heimstaden Bostad announced in the Q3 report a commitment to sell a part of its portfolio unit by unit to private homeowners (privatisation). Rita Berg Hansen has been appointed as the Group Director of Privatisation and will lead this strategic unit from 1 November, driving the expansion of privatisation across our markets.The Board-approved Privatisation Plan targets SEK 20 billion book value sales by 2025 with a 20% premium to book value. Initial results are promising, with a 31% premium on book value from the sale of 127 units year-to-date. Following the pilot phase, the Plan will

Heimstaden AB Q3 2023 Results

Tue, Oct 24, 2023 08:00 CET

Highlights (figures in brackets refer to previous quarter): · The European residential markets continue to experience increased supply/demand imbalances putting further upward pressure on rents across our markets. The like-for-like rental growth was 4.2% (5.7%) and real economic occupancy remains high at 98.1% (98.2%) · The strong operational performance is driven by both rental income at SEK 3.9 billion (3.8) and prudent cost efficiency measures. The NOI margin was 69.5% (69.0%) · Investment properties of SEK 339 billion (347) and 163,157 homes (162,166). Fair value change was -

Heimstaden Divests Icelandic Portfolio

Fri, Oct 06, 2023 11:15 CET

Heimstaden AB has today agreed to divest 100% of the shares in the Icelandic residential real estate company Heimstaden ehf. to Fredensborg AS. The transaction will close in October 2023.Heimstaden ehf. is the largest residential real estate company in Iceland with appr. 1,625 homes and ongoing projects of 41 units, located primarily in Reykjavik and its surrounding areas. As of June 30, 2023, its property book value stands at approximately SEK 6.0 billion (ISK 75.4 billion). In 2021, Heimstaden AB acquired Heimstaden ehf. from Fredensborg AS, achieving an annualised return on investment

Louise Schaldemose Joins Heimstaden as Director of Group Letting

Mon, Sep 25, 2023 12:00 CET

Louise Schaldemose will take on her new role on 1 October and will support an experienced team of local Heads of Letting across all Heimstaden’s locations.Heimstaden is Europe’s second largest residential real estate company, owning and managing more than 160,000 homes across ten countries. With a real economic occupancy rate of 98.2%, Heimstaden’s platform provides a Friendly customer experience through all touchpoints, from initial awareness until moving out. Bringing over eight years of experience within letting and management at Ikano and home in Copenhagen, Denmark, Schaldemose

Fitch Lowers Rating for Heimstaden AB to ‘BB’, Revises Outlook to Rating Watch Negative

Fri, Sep 22, 2023 15:00 CET

Fitch lowers Heimstaden AB’s rating to ‘BB’ and revises the Outlook to Rating Watch Negative.

Christian Fladeland Appointed Deputy CEO

Fri, Sep 15, 2023 17:15 CET

Heimstaden’s Chief Investment Officer, Christian Fladeland, will also serve as Deputy CEO, effective immediately.Since joining Heimstaden in January 2019, Christian has played a vital role in the company's senior executive management, making his appointment as Deputy CEO a natural progression due to his significant contributions to the company's positive development. In addition to overseeing the company's investment teams, Christian also leads the Corporate Finance Team. Prior to joining Heimstaden, Christian held Partner positions at Colliers International and Sadolin & Albæk. He

Heimstaden AB Announces the Results of the Tender Offer for its SEK Bonds

Mon, Aug 28, 2023 09:15 CET

Heimstaden AB (“Heimstaden”) announces the results of the tender offer (the “Tender Offer”) to the eligible holders of Heimstaden’s outstanding senior unsecured floating rate bonds denominated in SEK as further set out in the below table.The purpose of the transaction is, among other things, to proactively improve Heimstaden’s liability composition and debt maturity profile, and it is fully financed with Heimstaden’s existing cash position. Bonds Repurchased nominal amountSEK 1,200 million Senior Unsecured SEK 338 750 000Floating Rate Bonds

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