• Net revenue from property management was SEK 1,515 million (1,365), an increase of 11 per cent. Including intra-Group rental revenue, net revenue from property management was SEK 1,654 million (1,515).
• Gross profit from property management increased by 13 per cent, totalling SEK 1,030 million (914). Including intra-Group rental revenue, gross profit from property management was SEK 1,169 million (1,064).
• Net result for the period was SEK -1,585 million (1,053), equivalent to SEK -7.83 per share (5.20). The decrease is attributed to negative unrealised changes in the value of the property holdings.
• The fair value of the property holdings was SEK 47.5 billion (49.5 at year-end), resulting in a net reinstatement value (EPRA NRV) of SEK 188 per share (201 at year-end). Unrealised changes in the value of the property holdings amounted to SEK -2,854 million (495) for the period.
• The equity ratio was 59 per cent (61), the net loan-to-value ratio was 21 per cent (18) and the interest coverage ratio was 5.2 (8.0).
• The rental vacancy rate at the end of the period was 8.8 per cent (7.8). Excluding current development projects, the rental vacancy level was 5.7 per cent (5.1).
• Hufvudstaden has the most satisfied office tenants in the industry, and won Customer Satisfaction Index for the sixth consecutive year in the large company category.

Comments from Hufvudstaden's President, Anders Nygren.

"The market for offices in attractive city locations remained stable in the third quarter. Even if the letting process has become slightly more protracted, several new contracts have been signed in Stockholm. We also received the good news that we have confirmed our top ranking in the large company category of this year's Consumer Satisfaction Index for office tenants.

Our low risk profile gives us stability and the opportunity to complete our development projects despite the higher interest rate environment. One of these projects is Vildmannen 7, which was inaugurated in August. Most of the premises are already leased to operations that enhance Bibliotekstan as a market-place.

The situation in the retail sector is currently challenging with high inflation and rising interest rates. Despite the situation we are observing that vacancies which arising in our attractive marketplaces are relatively quickly let to new concepts. Attention and customer flows for the CAIA Cosmetics pop-up store at the Stockholm NK department store have been exceptional. This is a good example of how physical and digital retail complement each other."

Questions can be answered by:
Anders Nygren, President, and Åsa Roslund, Vice President and CFO, telephone +46 8 762 90 00.
Appendix: Interim Report January - September 2023

The information in this Interim Report is information that Hufvudstaden AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was published under the auspices of the above contact persons on November 9, 2023 at 12:00 CET.