Interim Report January – September 2018

  • Gross profit from property management rose by 3 per cent to SEK 972 million (944). The increase can be attributed mainly to higher rental revenue.
  • Net revenue from property management amounted to SEK 1,333 million (1,295), an increase of 3 per cent.
  • Profit after tax for the period was SEK 3,137 million (2,132), equivalent to SEK 15.21 per share (10.33). The increase can be attributed mainly to higher unrealized changes in the value of the property holdings, and a deferred tax recalculation following a reduction in corporation tax.  
  • The fair value of the property holdings was SEK 42.7 billion (39.7 at the turn of the year), resulting in a net asset value of SEK 164 per share (152 at the turn of the year). The unrealized change in value for the period was SEK 2,467 million (1,878).
  • The equity ratio was 63 per cent (62), the net loan-to-value ratio was 15 per cent (15), and the interest coverage ratio multiple was 10.0 (9.0).
  • The rental vacancy level at the period-end was 4.1 per cent (4.3). Excluding current development projects, the rental vacancy level was 2.5 per cent (1.8).
  • Hufvudstaden, with its highest score ever, has emerged as the company in the industry with the most satisfied office tenants according to the Fastighetsbarometern Customer Satisfaction Survey, Large Company category.

Stockholm, November 9, 2018

HUFVUDSTADEN AB (publ)

Ivo Stopner
President

Appendix: Interim Report January – September 2018

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 November 9, 2018 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.