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Regulatory press release

Heba strengthens income from property management for the first quarter of 2024

Heba Fastighets
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Heba is reporting stronger income from property management in the first quarter of 2024. Income from property management increased by 17% to SEK 54.6m (46.6), excluding the share of profit from jointly controlled entities in the same period in 2023. Heba acquired and took possession of two public buildings in Tyresö during the quarter, comprising 115 apartments in senior living facilities.

The NOI margin for the interim period increased to 69.4% as compared to 66.5% last year. Comprehensive income for the interim period is again negative, mainly due to adverse changes in the value of properties. The change in value for Q1 2024 was SEK -52.8m (-268.6), corresponding to -0.4% (-1.7).

Our new green and sustainability-linked financing framework received top marks from Morningstar Sustainalytics during the quarter. The framework is aligned with EU Taxonomy requirements and links financing to ambitious climate targets.

Outcomes for the quarter are evidence of strength and proof that Heba is continuing to deliver. The acquisition of two public buildings in Tyresö is aligned with our target to increase the share of net operating income generated by public buildings. Looking at the intensive renovation programme, our portfolio upholds modern standards. We have an outstanding project portfolio and it is highly likely that we will begin building a couple of these projects this year, says Heba Fastighets AB CEO Patrik Emanuelsson.


Key figures Q1 2024:

  • The loss for Q1 2024 was SEK -40.1m (-187.4), corresponding to SEK ‑0.24 (-1.14) per share.
  • Income from property management increased by 17% to SEK 54.6m (46.6) excluding the share of profit from jointly controlled entities in Q1 2023.
  • Rental income amounted to SEK 135.9m (142.5).
  • Net operating income was SEK 93.8m (94.8).
  • The change in the value of properties was SEK -52.8m (-268.6). 

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

This information is information that Heba Fastighets AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-23 12:00 CEST.

About Heba
Heba is a long-term and experienced property owner that develops, owns and manages residential properties and public buildings centrally located in the Stockholm-Mälaren Region. On the strength of our expertise, we offer safe, secure and sustainable homes with high amenity standards for people to enjoy living in 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

Attachments
Heba Report Q1 2024 Eng