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Heimstaden Bostad exceeds 300 billion

Heimstaden Bostad exceeds 300 billion

Not many years ago, 100 billion was a magic level to pass property value. Heimstaden Bostad has now exceeded 300 billion Swedish kronor.

Heimstaden Bostad’s 2021 key figures in the company’s year-end report:

  • 24.0 billion SEK profit before tax.
  • The value of the property is 300.6 billion SEK and 148,295 homes.
  • Acquisitions worth SEK 126 billion, including the largest real estate deal in Europe, have been completed with the acquisition of 599 properties from Akelius.
  • The actual economic occupancy rate is 97.9% (97.5%).
  • Growth in rental income for a similar portfolio was 2.5 percent.
  • The net loan to value ratio (NPV) is 46.2% (43.7%) and the ICR ratio is 4.1x (2.9x).
  • Issued capital of SEK 45 billion from existing and three new investors.
  • Announced a joint venture with Allianz (completed in January 2022).

Patrick Hall, CEO of Heimstaden, comments on the findings:

2021 was a revolutionary and successful year. By more than doubling our portfolio value, we positioned ourselves as the second largest residential real estate company in Europe, driven by the purchase of 599 properties from Akelius, which was the largest real estate company in Europe.

After incorporation in Finland and the UK, we have a scalable operating organization in nine European countries. We offer friendly homes to more than 300,000 customers and have improved customer satisfaction scores in all markets compared to 2020.

The hall continues:

– With credit ratings of “BBB” from “Standard & Poor’s” before, we have added a rating from Fitch with an initial rating of “BBB”. Credit ratings are an affirmation of our long-term strategy and our ability to improve our financial ratios during periods of significant growth, opening doors to future financing at lower cost.

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Our revised sustainability goals align with the Paris Agreement, and we are committed to allocating at least SEK 6.9 billion to efforts to reduce greenhouse gas emissions by approximately 50% by 2030. In July, we launched a ‘house to house’ with SOS Children’s Villages and presented at Short time support for more than 20,000 children in more than 20 countries.

Conditions for business growth remain good and we will continue to provide excellent service and care for our clients, along with delivering strong financial and operational results.”