Hufvudstaden AB

HUFV A

Equity

ISIN SE0000170375 / Valor 613766

NASDAQ Nordic Exchange Stockholm, Equities (2024-12-23)

SEK 120.20-0.41%

Hufvudstaden AB
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About company

Hufvudstaden AB is a real estate company based in Sweden, with operations focused on three main business areas: Stockholm, Gothenburg, and NK. The company emphasizes corporate social responsibility as a key component of its long-term profitability strategy, aiming to achieve sustainable development by considering financial, environmental, and social factors. Hufvudstaden's core business involves owning, managing, and developing commercial properties in prime locations within Sweden's major cities, catering to a diverse range of tenants and customers.

Summarized from source with an LLMView SourceSector: Finance

Net Revenue

Hufvudstaden AB reported net revenue from property management, excluding intra-Group rents, of SEK 523.6 million for the first quarter of 2024, up from SEK 502.9 million in the same period of 2023. This increase was primarily due to indexation and higher gross rents from new leases and renegotiations of office spaces.

Gross Profit

The gross profit from property management for Hufvudstaden AB in Q1 2024 was SEK 346.1 million, compared to SEK 330.7 million in Q1 2023. This improvement reflects the company's ability to maintain strong operational performance despite a challenging economic environment.

Net Result

Hufvudstaden AB's net result for the first quarter of 2024 was a loss of SEK 396.1 million, an improvement from the loss of SEK 499.4 million in the same quarter of the previous year. The reduced loss is attributed to lower negative unrealised changes in the value of the property holdings.

Property Value

The fair value of Hufvudstaden AB's property holdings as of March 31, 2024, was SEK 46,232 million, down from SEK 46,743 million at the end of 2023. The decrease is due to negative unrealised changes in property values, partially offset by investments made during the period.

Vacancy Rate

As of the end of Q1 2024, Hufvudstaden AB's total rental vacancy rate was 9.2%, up from 8.8% at the end of 2023. Excluding current development projects, the EPRA vacancy rate was 7.1%, an increase from 5.7% at the end of the previous year, mainly due to a few office and retail premises being vacated.

Summarized from source with an LLMView Source

Key figures

-15.3%1Y

-8.90%3Y

-34.9%5Y

Performance

21.2%1Y

27.5%3Y

30.5%5Y

Volatility