Hufvudstaden (HUFV-A) AGM 2026 presentation summary

Market environment and trends

• Signs of economic recovery despite ongoing uncertainty and recessionary pressures.

• High-quality centrally located offices remain in demand.

• Retail sector shows some recovery, with ongoing transformation at NK.

• Office vacancy rates in Stockholm and Gothenburg vary by district, with some areas experiencing double-digit vacancies.

• Real rental growth for offices and retail spaces continues, especially in prime locations.

Financial performance

• Property management rental income increased by 6% to SEK 2,453 million.

• Gross profit rose by 5% to SEK 1,635 million.

• Annual net profit reached SEK 837 million, up from SEK 365 million.

• Dividend proposed at SEK 4.50 per share, a 5% increase.

• Share buybacks and share cancellations enhance shareholder value.

Balance sheet and financing

• Net loan-to-value ratio remains low compared to industry peers.

• High equity ratio, consistently above industry average.

• Interest coverage ratio remains strong, outperforming sector averages.

• Total borrowings amount to SEK 11,350 million, mainly bank loans.