Sweden's Heba Fastighets nine-month profit nearly doubles

Heba Fastighets AB

Yesterday 11:11

Overview
Swedish property manager's rental income rose 4% and net operating income increased 5% yr/yr
Profit for January–September nearly doubled yr/yr
Company attributes results to efficiency gains, digitalisation and reduced maintenance costs

Outlook
Company targets energy use of 40 kWh/m2 by 2030
Company says growth will be driven by development, digital operations and capital management
Company says integrated sustainability programme aims to lower costs and risks

Result Drivers
EFFICIENCY IMPROVEMENTS - Co cited several years of efficiency gains, digitalisation and energy optimisation as key drivers, per CEO Patrik Emanuelsson
RENOVATIONS AND LOWER MAINTENANCE - Co said portfolio renovations and reduced maintenance costs contributed to results
SUSTAINABILITY PROGRAMME - Co said its sustainability programme led to lower costs and risks

Company press release: ID:nMFN23V6lh

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
9M Rental Income
 
SEK 474.70 mln
 
9M EPS
 
SEK 1.87
 
9M Net Income
 
SEK 289.40 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for HEBA Fastighets AB is SEK35.00, about 46.8% above its October 20 closing price of SEK23.85
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 21 - Corem Property Group returns to profit; asset gains offset property value declines
Oct 21 - Sweden's Neobo Q3 profit from property management rises on lower costs
Oct 21 - Sweden's Wihlborgs 9-month rental income rises on new leases, projects and renegotiation

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)