Heimstaden AB: Q2 2021 Results
Highlights
- SEK 4.6 billion in profit.
- Investment properties of SEK 187 billion and 116,679 homes.
- Strong operational performance with 97.6% real economic occupancy.
- Robust balance sheet with LTV of 41.2% (Q1: 43.3%) and ICR of 3.1x (Q1: 3.0x).
- Raised SEK 1.13 billion in issuance of new preference shares on Nasdaq First North Growth.
- Heimstaden Bostad entered the United Kingdom with the acquisition of newbuild portfolio in Birmingham.
Commenting on the results, CEO Patrik Hall said:
“Thanks to our professional and ambitious people, Heimstaden 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 Heimstaden Bostad’s 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.heimstaden.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
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 116,000 homes with a property value of SEK 187 billion. Read more at www.heimstaden.com.
Certified Adviser is Erik Penser Bank aktiebolag, +46 8-463 83 00 and certifiedadviser@penser.se.
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 13 August 2021 at 07:00 CET.
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