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Gross profit from property management increased by 3 per cent and amounted to SEK 572 million (558), which can be attributed mainly to the result of the property acquisition in Gothenburg during 2013 and higher rents.
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Profit after tax for the period was SEK 789 million (844), equivalent to SEK 3.83 per share (4.09). The decrease is due to a negative, unrealized change in the value of interest derivatives of SEK -114 million (90).
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The fair value of the property holdings was set at SEK 26.6 billion (25.9 at the turn of the year), resulting in a net asset value of SEK 93 per share (92 at the turn of the year).
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The equity ratio was 57 per cent (56), the net loan-to-value ratio was 21 per cent (23) and the interest coverage ratio multiple was 8.4 (8.2).
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Consolidated net revenue amounted to SEK 826 million (795), an increase of 4 per cent.
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The rental vacancy level at the period-end was 5.5 per cent (4.8).
Stockholm, August 21, 2014
HUFVUDSTADEN AB (publ)
Ivo Stopner
President
Appendix: Half-year Report January – June 2014
The information in this Interim Report is information that Hufvudstaden AB (publ) is obliged to publish according to the Securities Market Act and/or the Financial Instrument Trading Act. The information was published on August 21, 2014.
Questions can be answered by Ivo Stopner, President, or Magnus Jacobson, Head of Finance, telephone +46 (0)8-762 90 00.
Half-year Report January-June 2014
