Hufvudstaden (HUFV-A) AGM 2025 presentation summary

Market environment and operational highlights

• Continued global uncertainty and a stable but cautious office market in central locations.

• Weak performance in the retail sector, but strong progress in development projects.

• Focus on sustainability and maintaining the industry's most satisfied office customers.

Financial performance

• Property management net revenue increased by 4% to SEK 2,120 million; gross profit up 6% to SEK 1,435 million.

• Vacancy rate (excluding projects) improved to 5.0% from 5.7%.

• Project investments amounted to SEK 977 million.

• Annual result was SEK 365 million, a significant turnaround from the previous year's loss.

• Proposed dividend for 2024 is SEK 4.50 per share, continuing a trend of steady increases.

Property portfolio and valuation

• Property value at December 2024 was SEK 50.0 billion, with a direct yield requirement averaging 4.1%.

• The company maintains a lower net loan-to-value ratio and higher equity ratio compared to industry peers.

• Interest coverage ratio remains strong relative to the sector.