Hufvudstaden (HUFV-A) Q2 2026 earnings summary

Executive summary

• Net revenue for January–June 2026 was SEK 1,642 million, up 1% year-over-year; gross profit increased 6% to SEK 850 million.

• Net result for the period rose to SEK 593 million from SEK 264 million, mainly due to higher operational earnings and positive unrealised property value changes.

• Vacancy rate in the property portfolio (excluding development projects) decreased to 4.7%.

• Strong demand for centrally located offices in Stockholm; retail segment also showed positive trends with low vacancy and new store openings.

Financial highlights

• Rental income from property management increased 3% to SEK 1,257 million year-over-year.

• Gross profit reached SEK 850 million, up from SEK 803 million.

• Operating result was SEK 940 million, up from SEK 503 million.

• Unrealised changes in value of investment properties were SEK 121 million, compared to SEK -247 million last year.

• Net financial income and expense was SEK -193 million, reflecting higher borrowing costs.

Outlook and guidance

• Ongoing transformation and leasing activities are yielding tangible results, especially in Stockholm.

• Market conditions in Gothenburg remain challenging due to high supply of new office premises.

• NK Retail continues transformation efforts to enhance customer experience and product range.