Heimstaden Bostad Q3 2021 Results
Highlights
- SEK 4.8 billion in profit.
- Investment properties of SEK 199 billion and 118,614 homes.
- Real economic occupancy of 98.1% (97.6%).
- Net LTV of 42.9% (39.6%) and ICR of 3.9x (3.5x).
- Fitch Ratings initiated coverage with ‘BBB’ credit rating and S&P affirmed its ‘BBB’ rating.
- Closed acquisitions for SEK 5.2 billion and entered Finland.
- Announced SEK 92.5 billion acquisition of 599 properties in Germany, Sweden, and Denmark.
Commenting on the results, CEO Patrik Hall said:
“The third quarter was characterised by improved occupancy, positive financial development, and significant acquisitions, including the announcement of the largest transaction in Heimstaden Bostad’s history. At the same time, we enhanced our ESG commitments with new and ambitious climate targets, in line with the Paris Agreement ambition to limit global warming to 1.5°C.
We continue to receive strong support from our long-term owners and are well-positioned to continue delivering on our long-term strategy and vision to enrich and simplify lives through Friendly Homes.”
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 European residential real estate company that 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 119,000 homes with a property value of SEK 199 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 22 October 2021 at 07:00 CET.
