Heimstaden Bostad Q1 2023 Results

27 Apr 2023 07:00 CEST

Highlights

· Strong operational result with stable high occupancy and like-for-like
growth at 4.8% (5.4%)
· Rental income of SEK 3.6 billion (3.4)
· Net operating income margin increased to 64.9% (60.8%)
· 3.9 % decrease in value of investment properties
· Investment properties of SEK 335 billion and 159,089 homes
· Real economic occupancy of 98.2% (98.2%)
· Net LTV of 52.7% (50.3%) and ICR 3.0x (3.5x)
· Greater Manchester Pension Fund new investor in Heimstaden Bostad
· Buyback of senior unsecured bonds financed by existing liquidity available
and equity from new and existing shareholders
· Obtained SEK 12 billion in secured bank funding

CEO Helge Krogsbøl comments:

"We are delivering strong operational results while the macro environment
continues to negatively impact property values. Through a solid financing
structure with a mix of bank and bond financing with significant loan volumes in
banks available, we are maintaining good control of maturities for the coming
years. This quarter, I am especially pleased to welcome Greater Manchester
Pension Fund as a new shareholder, one of the UK's leading institutional
investors, who shares our sustainable and customer-centred mindset."

Contact
Christian V. Dreyer, CCO
media@heimstaden.com

Malin Lethenström, IR
ir@heimstaden.com

About Heimstaden Bostad

Heimstaden Bostad is a leading European residential real estate company with
around 159,000 homes across 9 countries and a property value of SEK 335 billion.
We acquire, develop, and manage properties with an evergreen perspective. Guided
by our Scandinavian heritage and values Care, Dare and Share - our 2,200
colleagues strive to fulfil our mission to enrich and simplify our customers'
lives through Friendly Homes. Read more at www.heimstadenbostad.com.

This information is such information that Heimstaden Bostad 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 27 April 2023 at 07.00 CET.

More information:
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588705_Heimstaden_Bostad_Q1_2023_Results.pdf