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

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).