Sweden

Sweden is Heimstaden Bostad's largest market in terms of value. The property portfolio is geographically diversified across large and medium-sized cities throughout the country and contains different types of properties. Hence, our customer base mirrors society, ranging from students and single households to families and seniors.

Key Figures

		Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Rental income	SEK m	1,115	1,089	1,052	997	1,129
Net operating income	SEK m	674	550	553	571	597
Net operating income margin	%	60.5	50.5	52.5	57.3	52.9
Like-for-like rental income growth	%	5.4	3.1	2.8	3.2	2.9
Real economic occupancy	%	99.3	99.1	99.2	99.1	98.9
Capital expenditures	SEK m	718	766	1,443	1,057	1,082

Norway

Heimstaden Bostad is the largest private residential real estate company in Norway, with a portfolio consisting primarily of smaller apartments and a large share of relatively young customers. Historically, leases in Norway have been entered into on a 3-year basis. In February 2021, Heimstaden Bostad became the first residential real estate company in Norway to introduce open-ended rental contracts, with an aim to contribute to a more predictable and stable rental market for tenants.

Key Figures

		Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Rental income	SEK m	176	195	198	193	187
Net operating income	SEK m	136	150	145	131	138
Net operating income margin	%	77.3	77.3	73.0	67.9	73.5
Like-for-like rental income growth	%	8.0	7.4	8.4	10.5	9.9
Real economic occupancy	%	99.2	99.3	99.4	98.7	98.0
Capital expenditures	SEK m	110	46	103	60	119

Iceland

Heimstaden is the largest residential real estate company in Iceland. In 2020, Fredensborg bought the listed company Heimavellir and currently owns all shares in the company. In January 2021, Heimavellir rebranded the company to Heimstaden and Iceland became the seventh market in which Heimstaden is present, consolidating the European presence as the third largest real estate company in Europe.

Key Figures

		Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Rental income	SEK m	83	78	78	77	74
Net operating income	SEK m	58	51	51	54	49
Net operating income margin	%	69.2	65.2	65.0	69.2	66.4
Like-for-like rental income growth	%	11	13.3	n/a	n/a	n/a
Real economic occupancy	%	99.9	99.9	99.7	99.7	97.0
Capital expenditures	SEK m	21	21	15	15	10