Gross profit from property management rose by 2 per cent to SEK 350 million (343). The increase can be attributed mainly to higher rental revenue.
Net revenue from property management amounted to SEK 482 million (472), an increase of 2 per cent.
Net income for the period was SEK -499 million (500), equivalent to SEK -2.42 per share (2.42). The decrease can be attributed to negative unrealized changes in the value of the property holdings.
The fair value of the property holdings was SEK 47.0 billion (47.7 at the turn of the year), resulting in a net asset value of SEK 178 per share (185 at the turn of the year) following payment of a dividend of SEK 3.90 per share. The unrealized change in the value of the property holdings for the period was SEK -929 million (332).
The equity ratio was 62 per cent (62), the net loan-to-value ratio was 18 per cent (17), and the interest coverage ratio multiple was 10.8 (11.8).
The rental vacancy level at the period-end was 6.3 per cent (6.2). Excluding current development projects, the rental vacancy level was 2.7 per cent (2.3).
Stockholm, May 7, 2020
HUFVUDSTADEN AB (publ)
Bo Wikare
Acting President
Appendix: Interim Report January - March 2020
Questions can be answered by Bo Wikare, Acting 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 May 7, 2020 at 11:30 am.