Heimstaden Bostad: Q2 2021 Results
Highlights
- SEK 4.6 billion in profit.
- Investment properties of SEK 186 billion and 116,083 homes.
- Strong operational performance with 97.6% real economic occupancy.
- Robust balance sheet with LTV of 39.6% (Q1: 41.1%) and ICR of 3.5x (Q1: 3.2x).
- Issued SEK 3.0 billion in new senior unsecured bonds and a SEK 6.0 billion hybrid bond.
- Entered the UK with the acquisition of newbuild portfolio in Birmingham.
Commenting on the results, CEO Patrik Hall said:
“Thanks to our professional and ambitious people, Heimstaden Bostad delivered strong financial and operational results in the second quarter. Although the pandemic continues to impact our lives, society is beginning to open back up, and we are seeing signs of improved occupancy across our markets.
We continued to invest in new and existing markets and reached a major milestone with our first UK investment in May. With an attractive portfolio and robust financial position, we ended the quarter with a solid platform for continued growth and look forward to bringing Friendly Homes to even more satisfied customers going forward.”
A Swedish version of the report is available on www.heimstadenbostad.com
Contacts:
Arve Regland, CFO
+47 47 90 77 00
arve.regland@heimstaden.com
Magnus Granerød, IR Manager
+47 922 38 407
ir@heimstaden.com
About Heimstaden Bostad
Heimstaden Bostad is a leading residential real estate company in Europe, which buys, develops and manages homes. Through our values Care, Dare and Share, we create value for owners and Friendly Homes for customers. We own about 116,000 homes with a property value of SEK 186 billion. Read more at 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 13 August 2021 at 07:00 CET.
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