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

		Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Rental income	SEK m	1,109	1,105	1,079	1,043	988
Net operating income	SEK m	723	666	541	516	582
Net operating income margin	%	65.2	60.3	50.1	49.5	58.9
Like-for-like rental income growth	%	4.8	5.4	3.1	2.8	3.2
Real economic occupancy	%	99.0	99.3	99.1	99.2	99.1
Capital expenditures	SEK m	774	679	758	1,432	1,061

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

		Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Rental income	SEK m	189	176	195	216	193
Net operating income	SEK m	142	136	150	145	131
Net operating income margin	%	74.9	77.3	77.3	67	68
Like-for-like rental income growth	%	6.3	8.0	7.4	8.4	10.5
Real economic occupancy	%	99.6	99.2	99.3	99.4	98.7
Capital expenditures	SEK m	31	64	46	108	55

Denmark

Heimstaden Bostad is the largest private residential real estate company in Denmark, and we have the last years expanded our portfolio in all regions in the country. We have several regional offices in Denmark, bringing our employees even closer to our customers.

Key Figures

		Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Rental income	SEK m	912	873	859	802	762
Net operating income	SEK m	649	605	568	520	534
Net operating income margin	%	71.2	69.3	66.1	64.8	70.1
Like-for-like rental income growth	%	0.5	1.0	2.6	4.5	5.2
Real economic occupancy	%	97.2	96.9	96.6	97.0	97.6
Capital expenditures	SEK m	265	234	218	373	292

Netherlands

The Netherlands is a geographically diversified market for Heimstaden Bostad. In the Netherlands, there are several objective factors determining whether residential units are regulated or subject to free market rent. The most important factors are energy labels, the size of the unit and the WOZ value – a public valuation measure, which is a proxy for the attractiveness of the location.