- Gross profit from property management rose by 6 per cent to SEK 1,029 million (972). The increase can be attributed mainly to higher rental revenue.
- Net revenue from property management amounted to SEK 1,408 million (1,333), an increase of 6 per cent.
- Profit after tax for the period was SEK 2,045 million (3,137), equivalent to SEK 9.91 per share (15.21). 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 46.4 billion (44.1 at the turn of the year), resulting in a net asset value of SEK 179 per share (171 at the turn of the year). The unrealized change in the value of the property holdings for the period was SEK 1,700 million (2,467).
- The equity ratio was 62 per cent (63), the net loan-to-value ratio was 16 per cent (15), and the interest coverage ratio multiple was 11.4 (10.0).
- The rental vacancy level at the period-end was 7.1 per cent (4.1). Excluding current development projects, the rental vacancy level was 3.0 per cent (2.5).
- Hufvudstaden has the most satisfied office tenants in the property industry in the Large Cap category according to the Fastighetsbarometern Customer Satisfaction Survey.
Stockholm, November 7, 2019
HUFVUDSTADEN AB (publ)
Appendix: Interim Report January – September 2019
Questions can be answered by Bo Wikare, Acting President, or Åsa Roslund, CFO, telephone +46 (0)8-762 90 00.
Interim Report January–September 2019
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 7, 2019 at 11:30 am.
Pressrelease Interim Report Q3 2019