Heimstaden AB: First Quarter 2021 Results

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  • SEK 5.1 billion in profit before deferred tax and currency effects.
  • Fair value of investment properties of SEK 179.5 billion with 114,041 homes.
  • Rental income grew 38% compared to Q1 2020, driven by acquisitions.
  • Strong operational performance with 97.6% real economic occupancy.
  • Heimstaden Bostad closed acquisitions for SEK 26.1 billion, of which 15.7 billion in Denmark, making it Heimstaden’s largest market in terms of value.
  • Strong financial metrics with LTV of 43.3% (48.2%) and ICR of 3.0x (2.5x).
  • Heimstaden Bostad raised SEK 12.5 billion in new equity, of which 5.4 billion from Heimstaden, and SEK 13.1 billion in senior unsecured and hybrid bonds.
  • Heimstaden raised SEK 3.5 billion from its first Euro-denominated bond.

Commenting on the results, CEO Patrik Hall said:

“An eventful first quarter, where two major acquisitions in Denmark and Germany resulted in strong growth in rental income and value. Our funding metrics improved and Heimstaden Bostad raised new equity, ensuring financial strength and flexibility to explore new investments opportunities.

We delivered strong operational results and I am proud of our competent and flexible colleagues who go the extra mile every day. Together, we will continue to push forward and pursue our ambitious goals in 2021 and beyond.”

Arve Regland, CFO

+47 47 90 77 00

Magnus Granerød, IR Manager
+47 922 38 407

About Heimstaden
Heimstaden 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 114,000 homes with a property value of SEK 180 billion. Our head office is in Malmö. Heimstaden’s preference share is listed on Nasdaq First North. Certified Adviser is Erik Penser Bank aktiebolag, +46 8-463 83 00 and certifiedadviser@penser.se. Read more at www.heimstaden.com.

This information is such information that Heimstaden 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 30 April 2021 at 07:00 CEST.