Heimstaden Bostad: Interim report January-June 2020

Highlights

  • Rental income for the period was SEK 3,308 million, up 68% compared to the first half of 2019
  • Surplus ratio increased to 58 percent (55), driven by higher margins in the Dutch and Czech portfolios as well as lower costs in the existing portfolio
  • Limited operational and financial impact from Covid-19. Negative impact on rental income of approximately SEK 8 million
  • More than 99 percent of rent collected in the period
  • Like-for-like rental income growth of 4 percent
  • Acquisitions in the period amounted to SEK 18,805 million
  • Unrealised changes in values of properties was SEK 3,510 million (2,341)
  • At the end of the period total portfolio value was SEK 135.1 billion
    and the residential portfolio consisted of 100,123 homes (54,863)
  • Strong financial position with a loan-to-value ratio of 43 percent (45)
  • Casper von Koskull, former Nordea Group CEO, was elected as Chairman of the Board
 

Commenting on the results, CEO Patrik Hall said:

“Over the last few months, the pandemic has accentuated the importance of a well-functioning home and that we deliver safe and secure service and homes that enrich and simplify our customers’ everyday lives. Our customer satisfaction has continued to improve, and I am grateful to all our employees who make a difference in the lives of our tenants and each other in these uncertain times.”

“Despite the extraordinary situation, financial and operational development for Heimstaden Bostad has been positive. Considerable operational focus has contributed to an improved surplus ratio, stable, low vacancy levels and no increases in unpaid rent. In line with our strategy, we also have the financial solidity and flexibility needed to continue our responsible and sustainable growth going forward.”

For more information, contact:

Patrik Hall, CEO
+46 705-85 99 56
patrik.hall@heimstaden.com

Arve Regland, CFO
+47 47 90 77 00
arve.regland@fredensborg.no

About Heimstaden Bostad
Heimstaden Bostad is a leading real estate company in Europe, with a focus on acquiring, refining, developing and managing housing and premises. Through our values Care, Dare and Share, we create value for our owners and caring homes for our tenants. Heimstaden Bostad has about 100,100 apartments and a property value of approximately SEK 135 billion. The head office is located in Malmö, Sweden. For more information, visit www.heimstadenbostad.com.  

 

This information is such information that Heimstaden Bostad AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on August 19, 2020 at 09:00 CEST.