Heba Fastighets AB (publ)

Hej och välkommen till HEBA. Vi har släppt vår delårsrapport för Q3 2025 och i den här inspelningen så kommer vi presentera resultatet. Med oss idag så har vi Patrik Magnusson, vd, Hanna Fransén, CFO och jag heter Eva Wase, kommunikationschef. I thought you were going to summarize.

We continue to deliver a stable result according to the plan, while we have a very ambitious sustainability and digitization work. I also think that we in this market, which is still a bit stagnant, use it well through, among other things, the purchase of shares, but also for your investments, among other things, in our housing. So I think it is Vi gör vad vi kan i en stampande marknad tycker jag.

Det här med ESG-fatig, att det är lite svalnat det här intresset för hållbarhet. Varför har du det? Och är det så? Tycker du det stämmer?

Jag tycker det stämmer absolut. The first part is much about how we are affected by Trump, which I have clearly shown that he does not like this. Then we had this quick decision that was made in Brussels, the so-called omnibus decision, which made many of us who have prepared to report in a special way from them this year, not going to do that. And then I think in the general public that there was uncertainty and maybe a little tiredness in the matter. We notice it very clearly that we get much, much fewer questions in the area. And I think that is very worrying. And how do we maintain ourselves?

Yes, but we do what we should do.

If everyone else moves away, then we go on instead. I think that is usually a good sign that you are doing the right thing and you are doing the opposite of what everyone else is doing. So we will continue to go on within the sustainability area and we will report according to these new standards that exist. which we don't really need to do. So we are convinced that there is only one way to work with these issues, and that is forward, with the highest ambition.

Hanna, I think as CFO, what do you think stands out in this quarter from your perspective?

I share Patrik's opinion that it's really fun with the administrative result, that we still improve ourselves and we still have these very strong key figures. And I also think it's fun that we've joined EPRA, and that we've included two keys, according to EPRA's standards. And there has been a demand for that, and now investors can compare us to other companies out there. So it's really fun. And for the rest, it's gone very well with the transition to green certificates that we lend. And we... It started in July, but has already reached up to 88% of the total volume. So it feels very close to Hans that we are at 100% by the end of the year. So it has gone a little faster than expected.

And this that we have, as Fatrik mentioned, that we have repurchased our own shares. What do we want with that?

Yes, one is that we have a very strong discount on the stock right now, and that means that when Välva Aktien turns up again, we are in a very good business, so to speak. We can probably look forward to using this in an acquisition, for example, or maybe sell it back to someone who is willing to go in with a slightly larger property in Heva. So we think that it might be one of the better deals that you can do during this period with a strong discount on shares.

Then we go into the presentation again.

Yes, and this picture is a little summary of where we are, but also that you can clearly see that we have increased quite a lot within the health care segment. And with the latest facilities, which I think we will come back to in the picture later, we will at the beginning of them, when they are finished, have almost 40% of the power grid from health care facilities. And we know, as I said, that within a five-year period we will be 50% more, which is plus 80 years. So we feel very safe with having invested strongly in this segment. And the market has been very favorable to actually make investments in this area. Yes, and let's look at... The administrative result is 174.9 million, compared to 168.6 million, which is an improvement of 4%. And we also have an improved total result compared to last year at 153 million, and last year we had minus 7.9. And what is still very pleasing is that we have actually succeeded in making our properties very, very effective when it comes to the surplus. And with the stock we have, we are today at 74.4% surplus, which is considered to be very, very good. And we continue with a very low vacancy rate, which is more or less non-existent on these low levels. And then I would also like to say that we have another key number that stands out very much, and that is our maintenance costs, which are now 11 kronor per square meter, which is probably very, very low in relation to our competitors. From the fact that we started our extensive renovation work, we have a decrease of about 70% since 2010. And as Hanna said, we are now members of EPRA and we are also involved in the EPRA index. And from this quarter, we are reporting two EPRA thresholds, which feels very good. If we look further, as we have also said, during this period we have also bought back another 3% of our B-currencies. But also within the framework of climate work or sustainability work, we have also signed as the first real estate company a 15-year agreement with Stockholm Exegi to buy carbon dioxide removal. And we will buy this during a 15-year period, 1000 tons per year. And this ensures that we will be climate neutral in our operational operations from 2030, but also that we manage to compensate for our new production. And the facility will be ready at the end of 2028, so we can start doing this from 2029. And our energy work continues to improve. We are now at 69 kilowatt hours per square meter compared to last year's 71. And that pushes us further towards the goal of reaching 40 kilowatt hours by 2030. We have a building permit ready to start Skridskon, a insulation project that we expect to start in quarter four. We have also made a first step on our common goal with Peab, to build 160 living spaces in a nursing home in Lilla Essingen. And then within the framework of our offensive investment around IT, we have also appointed an IT and digitalisation manager, which means that we can focus and increase the pace further when it comes to digitalisation work. A few figures, I think.

If we start with the rental income, they have increased by a whole 9% since a year ago. And it is of course driven by the acquisitions that were made during last year and in combination with rent increases. And the turnover is improved by 12% and increased by 12%. And that is the proof that we have talked about earlier as well, that it is a very effective administration and good cost-effectiveness in the operation. So the administration result is 174.9% for the first three quarters is 4% better than the previous year. And in the end, 153 million. And one year ago, we had a negative value change on the properties. We don't have that now, so now we have this plus result in the end. The value change is still quite weak, 67 million, or plus 0.5% on these three quarters, compared to minus 0.3% one year ago. And towards our goals, we have said that the administrative result on average will be improved by 5% per year per quarter 3, plus 4%. The reward rate will on average be 45%, or not exceed that during this period. And right now we have 46.8%. That is a little higher than what we have planned, but also connected to the fact that the value change is still weak, as I mentioned on the previous slide. och att vi återköpt de här aktierna under året. Överskottsgraden, rekordfina 74,4 och fastighetsvärdet 13,9. När det gäller driftsnettot från samhällsfastigheter så är den 30% nu, men som Patrik sa när vi har tillträtt äldreboendet eller vård- och omsorgsboendet i Norrtälje nästa år och det stora vård- och omsorgsboendet på Lilläsingen, då är det nästan 40%. Utdelningen har redan skett tidigare år i maj och det motsvarade 50% av förvaltningsresultatet justerat för skatt.

Ja, och här kan man se vår fina utveckling då när det gäller energianvändningen. Resan fortsätter och det här ger ju också att vi kan ju se att vi har halverat våra koldioxidutsläpp från 2018. Mm.

Finance, then. We have almost 6.5 billion in debt, or interest-bearing debt. To compare with one year ago, it is about 600 million higher. As you can see, we have also increased our exposure to the capital market. We have significantly more certificates. One year ago, it was also a little slower on the market, but now it is clearly better. So now we have almost one billion in existing certificates. And a little higher even on green bonds. And at the same time, a little lower on the bank loan. And 88% is, as I said, green certificates. And green obligations have been mentioned before. The average interest rate is 2.69, somewhat lower than the previous quarter. The loan rate is 46.8, which I also mentioned earlier. And since March this year, we have our rating from NCR, which is BBB Stable Outlook. Och i grafen här så ser ni också hur både belåningsgraden och genomsnittsräntan har utvecklats över åren bakåt. På räntebindningen då om vi tittar på vår totala exponering mot rörliga lån och med avdrag för derivaten så har vi cirka 63% räntesäkrat och en räntebindningstid på 2,4 år. Och det här är ju som ni ser också något lägre då eller kortare än vad vi låg för ett år sedan. Det har ju Det har varit svårt att gå längre på lån de sista åren, sett till prisbild och annat. Men vi ser det positivt nu att faktiskt kunna ta lite längre löptider framåt. Vi har ganska nyligen refinansierat ett lån på fyra år. Så jag ser positivt på det, att vi ska kunna förlänga ut lite. Kapitalbindningen då, inom ett år så har vi nästan 2,1 miljarder att omsätta. When it comes to the loan of 400 million, the majority is in place next autumn. And in March next year, we have an obligation transfer of 750 million. So that's also something we're discussing here and now, how we're going to handle it. We will want to refinance these obligations. And the certificate is close to one billion. The capital binding period is the same, it's down a little bit, one year back and is now three years old. And we have unchanged loan agreements of 1.9 billion SEK to go back to when needed and also linked to capital market exposure. And then the properties are biased to 29% of the property value. So there is also room to borrow them more if we want.

Yes, and if we then look a little bit at how our growth is going to happen, then we can see that this is what the Vila Primus property looks like with the 160 care and care facilities on Lilla Essingen that are ongoing. Och här har vi vård- och omsorgsboendet Sparven i Norrtälje som ska stå upp färdigt nästa höst. Tittar man då på vår projektportfölj så kan vi också konstatera att vi har Vårt väldigt fina projekt av bostäder som vi bygger utanför Nynäshamn i Källberga. Där vi har 128 lägenheter som vi beräknar påflytt, inflytt kanske någonstans runt sommaren nästa år. Och framåt. Som sagt, Nortelje med vård- och omsorgsbehoendet. Vi kommer att dra igång Skridskon förhoppningsvis nu här under Q4. Och sen har vi två projekt som ligger lite längre fram. Och tittar man på dem tillsammans med our partnerships and collaborations, we are talking about projects with a project portfolio of a net profit of about 125 million. So through this and investments we will create this 5% growth. So it looks very good, very nice properties in very good conditions that meet the future in a good way for us.

Yes. Bra. Ett starkt kvartal alltså.

Ja, vi fortsätter att leverera starka kvartal, kvartal efter kvartal.

Bra, men då var nog det allt från oss den här gången. Och som alltid så är ni varmt välkomna att höra av er om det är så att ni har några frågor. Tack och hej.