Hufvudstaden's HY rental income rises 3% on reduced vacancy, Stockholm office demand

Hufvudstaden AB

20/08/2026 11:11

Overview
Sweden property manager's half-year rental income rose 3% yr/yr, net revenue increased slightly
Gross profit for the period increased 6% yr/yr
Net income more than doubled compared to last year alongside unrealised property-value changes

Outlook
Company did not provide specific financial guidance for the current quarter or full year

Result Drivers
REDUCED VACANCY - Co said vacancy rate in property portfolio excluding development projects decreased to 4.7% due to focused leasing activities
STRONG STOCKHOLM DEMAND - Co said demand for centrally located offices in Stockholm remains strong, supporting leasing and occupancy
POSITIVE RETAIL TREND - Co said demand for retail premises in prime locations remains high and vacancy levels continue to be low

Company press release: ID:nWkrhdgNP

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Revenue Property Management
 
SEK 1.64 bln
 
H1 Net Income
 
SEK 593 mln
 
H1 Profit From Property Management
 
SEK 1.26 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy."
Wall Street's median 12-month price target for Hufvudstaden AB is SEK135.00, about 11.9% above its August 19 closing price of SEK120.60
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads
Aug 20 - Sweden's Catella Q2 underlying operating profit improves
Aug 20 - Switzerland's Swiss Prime Site H1 rental income rises on new leases
Aug 20 - Belgium's VGP H1 rental income rises 18% on leasing activity

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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.)