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.
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).
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).
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).
Consolidated net revenue amounted to SEK 826 million (795), an increase of 4 per cent.
The rental vacancy level at the period-end was 5.5 per cent (4.8).
Stockholm, August 21, 2014
HUFVUDSTADEN AB (publ)
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