Press Release

27 October 12:00

Interim Report Q3 2022

Heba improves income from property management

Heba Fastighets AB continues to report improved income from property management. Delivering stable performance in a time of new conditions, income from property management for the interim period of January-September was 9 percent better than in 2021.

Income from property management for the interim period increased to SEK 185.2 million compared to SEK 170.3 million in 2021, and NAV increased by 4.3 percent. Property value grew to SEK 15,249 million, up from SEK 13,500 million for the same period in 2021.

Heba Fastighets AB CEO Patrik Emanuelsson remarks:

Heba is reporting stable performance for the third quarter in the current global environment of higher interest rates, climbing energy prices and inflation. Although income from property management will be affected to a greater extent in 2023 by the new conditions and higher interest rates, Heba's stable financial position is a solid foundation in times like these.

The transaction market is unsettled and there have been few deals closed, which makes it difficult to pin down the yield requirements on which property valuations are based. The external valuation of Heba's properties shows a negative change in value of about 3.3 percent in the third quarter. Heba is nevertheless reporting profit after tax of SEK 53.8 million for the interim period.

Patrik Emanuelsson continues:

In a time when conditions are largely unclear, a prudent approach makes sense. Accordingly, Heba is taking several measures, including the postponement of planned projects. During the quarter, we took action to lower our share of variable rate borrowing. We have also reviewed options for further increasing the NOI margin by securing income before costs are incurred.

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Key figures:

  • Interim profit of SEK 53.8 million (859.5), corresponding to SEK 0.33 (5.21) per share.
  • Income from property management of SEK 185.2 million (170.3).
  • Rental income of SEK 372.5 million (328.5).
  • Net operating income of SEK 265.3 million (232.0).
  • The change in the value of properties was SEK -337.6 million (813.0).
  • Net asset value (NAV) increased by 5.3 percent to SEK 54.00 per share (51.27).

For further information, please contact:

Patrik Emanuelsson, CEO Heba Fastighets AB +46 8-522 547 50 patrik.emanuelsson@hebafast.se

Hanna Franzén, CFO Heba Fastighets AB +46 76-764 63 63 hanna.franzen@hebafast.se

Heba Fastighets AB (publ) is required to publish this information pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication by the contact persons above on 27 October 2022 at 12:00 CET.

About Heba

Heba is a long-term and experienced property owner that develops, owns and manages residential properties and public buildings in the Stockholm-Mälaren Region. On the strength of our expertise, we offer safe, secure and sustainable homes for people throughout various phases of their lives. We create value for shareholders and society through satisfied tenants, safer and more attractive communities and trustful partnerships. Heba was founded in 1952 and has been listed on Nasdaq Stockholm AB Nordic Mid Cap since 1994. Read more at: hebafast.se

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Heba Fastighets AB published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2022 15:52:10 UTC.