Heimstaden Q3 2021 Results
Highlights
- SEK 5.0 billion in profit.
- Investment properties of SEK 203 billion and 120,268 homes.
- Real economic occupancy of 98.0% (97.6%).
- Net LTV of 45.6% (41.2%) and ICR of 3.3x (3.1x).
- Fitch Ratings initiated coverage with ‘BB+’ credit rating of Heimstaden and ‘BBB’ rating of Heimstaden Bostad.
- Heimstaden bought 1,637 homes in Iceland valued at 3.8 billion.
- Heimstaden Bostad announced SEK 92.5 billion acquisition of 599 properties in Germany, Sweden, and Denmark.
- Heimstaden Bostad closed acquisitions of SEK 5.2 billion and entered Finland.
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’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 partners in Heimstaden Bostad as well as our passionate and competent people, and together, we 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
Heimstaden 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 120,000 homes with a property value of SEK 203 billion. Read more at www.heimstaden.com.
Heimstaden's preference shares are listed on Nasdaq First North Growth. Certified Adviser is Erik Penser Bank aktiebolag, +46 8-463 83 00 / certifiedadviser@penser.se.
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 22 October 2021 at 07:00 CET.
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