Heimstaden Q1 2023 Results

Highlights

• Strong operational result with stable high occupancy and like-for-like growth at 5.0% (5.4%)
• Rental income of SEK 3.7 billion (3.5)
• Net operating income margin increased to 64.9% (61.8%)
• 3.8% decrease in value of investment properties
• Investment properties of SEK 342 billion and 160,766 homes
• Real economic occupancy of 98.2% (98.3%)
• Net LTV of 54.9% (53.6%) and ICR 2.3x (2.5x)
• Greater Manchester Pension Fund new investor in Heimstaden Bostad
• Heimstaden Bostad bought back senior unsecured bonds financed by existing liquidity available and equity from new and existing shareholders
• Heimstaden Bostad obtained SEK 12 billion in secured bank funding
• Sold shares in Heimstaden Bostad AB for a total cash consideration of SEK 1.15 billion

CEO Helge Krogsbøl comments:

“We are delivering strong operational results while the macro environment continues to negatively impact property values. Through a solid financing structure with a mix of bank and bond financing with significant loan volumes in banks available, Heimstaden Bostad is maintaining good control of maturities for the coming years. This quarter, I am especially pleased to welcome Greater Manchester Pension Fund as a new shareholder of Heimstaden Bostad, one of the UK’s leading institutional investors, who shares our sustainable and customer-centred mindset.”

Contact:
Christian V. Dreyer, CCO
+47 907 24 999
media@heimstaden.com

Malin Lethenström, IR
+44 7748 055821
ir@heimstaden.com

Heimstaden is a leading European residential real estate manager and investor with around 160,000 homes across 10 countries with a property value of SEK 342 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Care, Dare 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 Erik Penser Bank aktiebolag.

This information is such that Heimstaden AB (publ) is required 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 27 April 2023 at 07:00 CET.