Press Release Details

CorrectionInterim report january-september 2018


The correction is due to an incorrectly recorded interest expense attributable to an error in an acquisition purchase price. The correction amounts to SEK 33 million and is not deemed to be material, but the company still wishes to correct the number to prove correct period outcomes. The incorrectness was detected by an audit effort in the subsidiary Heimstaden Bostad. At the same time, an incorrect classification is corrected, where a currency translation is incorrectly classified as Financial Cost - Interest-bearing liabilities and moved to Other financial expenses, without impact on earnings.

  •  Rental income for the period increased to SEK 2,408 million (1,350)
  •  The letting ratio for housing was 97.7 percent (99.2)
  •  Net operating income for the period increased to SEK 1,328 million (718)
  •  Net financial items amounted to a negative SEK 659 million (299)
  •  Profit from property management increased to SEK 639 million (383)
  •  Changes in values of properties amounted to SEK 2,179 million (1,413)
  •  Changes in values of derivatives amounted to SEK 30 million (13)
  •  Profit for the period amounted to SEK 2,461 million (1,457)
  •  Property acquisitions during the period amounted to SEK 16,260 million (8,875) and divestments amounted to SEK 162 million (667)
  •  Profit after tax per ordinary share amounted to SEK 151 (87)

A month ago, Heimstaden’s personnel gathered for a shared kick-off. We discussed our values and corporate culture, our vision and goals, and we committed ourselves to these. We gazed into the future with inspirational futurologists and we held panel discussions on sustainability, social responsibility and customer experience”

“It’s not often I am moved to the extent it gives me goosebumps, but that’s precisely what happened during these days. It was amazing to feel this broad commitment from more than 300 employees from Sweden, Denmark and Norway. I never cease to be fascinated by all the good ideas and wise solutions to daily challenges, as well as the genuine desire to deliver the best-possible customer experience to all of our tenants.

Thank you all for making a difference by being sincere, thoughtful and innovative”, states Patrik Hall, CEO of Heimstaden.

With a property portfolio spanning Sweden, Denmark and Norway, and with acquisitions agreed in Berlin, Germany, we have now, after analysing the market for some time, also completed our first acquisition in Utrecht, in the Netherlands. Utrecht is the fourth largest city in the Netherlands and is located about 35 kilometres south of Amsterdam”, continues Patrik Hall.

For further information, please contact:

Patrik Hall, CEO                                +46 705 - 85 99 56 

Magnus Nordholm, Deputy CEO      +46 705 - 29 31 44