Year-End Report 2020

• Net revenue from property management decreased by 7 per cent to SEK 1,768 million (1,896), which is mainly attributed to temporary rent reductions and increased rental and bad debt losses for stores and restaurants as a result of covid-19.

• Gross profit from property management amounted to SEK 1,237 million (1,373). The decrease of 10 per cent can be attributed mainly to lower rental revenue for stores and restaurants.

• The net loss for the year was SEK -1,462 million (3,146), equivalent to SEK -7.13 per share (15.25). The decrease can be attributed mainly to negative unrealized changes in the value of the property holdings regarding properties with a significant proportion of stores and restaurants.

• The Board of Directors proposes a dividend of SEK 2.50 per share (3.90). The lower dividend was determined in the light of the share buy-back, future investments and the lower results of operations in 2020.

• The property holdings fair value was SEK 45.6 billion (47.7), resulting in net tangible assets (EPRA NTA) of SEK 173 per share (185). The unrealized changes in the value of the property holdings for the year was SEK -2,930 million (2,727).

• The equity ratio was 60 per cent (62), the net loan-to-value ratio was 19 per cent (16), and the interest coverage ratio multiple was 9.1 (11.4).

• The rental vacancy level at the year-end was 8.2 per cent (5.0). Excluding current development projects, the rental vacancy level was 6.7 per cent (1.7).
   

Stockholm, February 18, 2021

HUFVUDSTADEN AB (publ)

 

The Board

Appendix:
Year-End Report 2020

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 person on February 18, 2021 at 11:45am.