Highlights for Q1 2025 (figures in brackets refer to same quarter last year):
- Like-for-like rental growth of 5.4% (5.6%) and rental income of SEK 4,023 million (3,876)
- Quarterly NOI margin improved to 68.8% (66.4%) and LTM NOI margin of 70.9% (67.7%)
- Strong operating fundamentals supported a 0.9% (0.8%) increase in property values
- Privatisation sales, for the quarter, reached SEK 2,641 (1,150) million with 546 (265) residential units sold at a 24.9% (31.5%) premium to book value
- Real economic occupancy of 98.3% (98.3%)
- Net LTV of 55.3% (59.0%) and ICR of 1.9x (1.7x)
- Divested Danish development projects for SEK 937 million
- Fitch revised their Outlook to Negative from Rating Watch Negative while affirming the 'B-'
- Issued a SEK 750 million senior unsecured floating rate note and a EUR 430 million senior unsecured fixed rate note as part of a liability management exercise that tendered certain SEK and EUR maturities
Contacts:
Frederik Berling, Media
+45 2130 9489, media@heimstaden.com
Cody Nelson, Investor Relations
+47 948 94 196, ir@heimstaden.com
About Heimstaden:
Heimstaden is a leading European residential real estate manager and investor with around 161,000 homes across nine countries with a property value of SEK 324 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Dare, Care, 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 Carnegie Investment Bank AB (publ).
This information is such information that Heimstaden AB (publ) is obliged 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 6 May 2025 at 08:00 CET.
