Gross profit from property management increased by 13 per cent and
amounted to SEK 1,065 million (945), due mainly to higher rents and
additional net operating income arising from property acquisitions and
Profit after tax for the year was SEK 1,939 million (1,435),
equivalent to SEK 9.40 per share (6.96). The increase can be
attributed to non-recurring revenue due to lower deferred tax
following a reduction in corporation tax.
The Board proposes an increase in the dividend to SEK 2.60 per share
The fair value of the property holdings at the year-end was set at SEK
23.1 billion (22.3), giving a net asset value of SEK 84 per share (76).
The equity ratio was 59 per cent (55), the net loan-to-value ratio was
18 per cent (18) and the interest coverage ratio multiple was 6.4
Consolidated net revenue amounted to SEK 1,542 million (1,437), an
increase of 7 per cent.
The rental vacancy level at the year-end was 3.7 per cent (3.9).
In November, the property Nordstaden 8:26 in Gothenburg was acquired
for approximately SEK 1.3 billion with a completion date in March 2013.
Stockholm, February 14, 2013
HUFVUDSTADEN AB (publ)
Appendix: Year-End Report 2012 - http://mb.cision.com/Main/2433/9370562/92352.pdf
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 February 14, 2013.
This information was brought to you by Cision http://www.cisionwire.com