Half-year Report January–June 2019

  • Gross profit from property management rose by 5 per cent to SEK 682 million (648). The increase can be attributed mainly to higher rental revenue.
  • Net revenue from property management amounted to SEK 938 million (888), an increase of 6 per cent.
  • Profit after tax for the period was SEK 1,481 million (2,575), equivalent to SEK 7.18 per share (12.48). The decrease can be attributed mainly to lower unrealized changes in the value of the property holdings and the deferred tax recalculation the previous year following the reduction in corporation tax.  
  • The fair value of the property holdings was SEK 45.8 billion (44.1 at the turn of the year), resulting in a net asset value of SEK 176 per share (171 at the turn of the year). The unrealized change in the value of the property holdings for the period was SEK 1,292 million (2,038).
  • The equity ratio was 62 per cent (63), the net loan-to-value ratio was 17 per cent (15), and the interest coverage ratio multiple was 11.3 (10.5).
  • The rental vacancy level at the period-end was 6.5 per cent (4.2). Excluding current development projects, the rental vacancy level was 2.9 per cent (2.8).

Stockholm, August 21, 2019

HUFVUDSTADEN AB (publ)

Ivo Stopner 
President

Appendix: Half-year Report January–June 2019

Questions can be answered by Ivo Stopner, President, or Åsa Roslund, CFO, telephone +46 (0)8-762 90 00.  

The information in this Interim Report is information that Hufvudstaden AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was published under the auspices of the above contact persons on August 21, 2019 at 11:30am.

About Us

Hufvudstaden provides office and retailing premises in prime locations in Stockholm and Gothenburg. The Company was founded in 1915 and is today one of Sweden's largest listed property companies and one of the strongest brands in the country in the property sector.