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Heimstaden AB Q2 2024 Results

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Highlights (figures in brackets refer to same quarter last year): 

  • The Privatisation Plan continued to deliver in line with ramp-up expectations as H1 total sales reached SEK 2,818 million. In the second quarter of 2024, 363 units were sold with a 29.0% premium to book value 

  • The NOI margin improved to 71.4% (69.0%) and the LTM NOI margin was 68.3% (66.2%) 

  • NOI growth offset slightly expanding yields, leading to a 0.4% (-2.1%) increase in property values 

  • Rental income at SEK 3,943 million (3,800) and like-for-like rental growth of 5.1% (5.7%) 

  • Real economic occupancy of 98.3% (98.2%) 

  • Net LTV of 58.1% (57.2%) and ICR of 1.8x (2.1x)


Contacts:

Frederik Stentoft Berling, Media
+45 21 30 94 89, media@heimstaden.com

Cody Nelson, Investor Relations
+47 948 94 196, ir@heimstaden.com
 


About Heimstaden:

Heimstaden is a leading European residential real estate manager and investor with around 162,000 homes across nine countries with a property value of SEK 331 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Dare, Care, and Share – we fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Heimstaden is listed on Nasdaq First North Growth Market. Read more at www.heimstaden.com. Certified Adviser is Carnegie Investment Bank AB (publ).

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 16 August at 08:00 CET.

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