Hufvudstaden AB: Year-End Report 2024

• Net revenue from property management was SEK 2,120 million (2,033), an increase of 4 per cent. Including intra-Group rental revenue, net revenue from property management was SEK 2,319 million (2,216).

• Gross profit from property management increased by 6 per cent, totalling SEK 1,435 million (1,359). Including intra-Group rental revenue, gross profit from property management was SEK 1,633 million (1,542).

• Net result for the year was SEK 365 million (-1,927), equivalent to SEK 1.80 per share (-9.53). The improvement can be attributed to lower negative unrealised changes in the value of the property holdings.

• The Board proposes an increased dividend of SEK 2.80 per share (2.70).

• The fair value of the property holdings was SEK 47.1 billion (46.7), resulting in a net reinstatement value (EPRA NRV) of SEK 185 per share (185). Unrealised changes in the value of the property holdings amounted to SEK -603 million (-4,042) for the year.

• The equity ratio was 59 per cent (59), the net loan-to-value ratio was 21 per cent (21), and the interest coverage ratio was 4.5 (4.9).

• The rental vacancy rate at year-end was 7.1 per cent (8.8). Excluding current development projects, the rental vacancy rate was 5.0 per cent (5.7).

Comments from Hufvudstaden's President, Anders Nygren.

"2024 was yet another year characterised by a weak economy, but Hufvudstaden still successfully delivered a 6 per cent increase in gross profit from property management. Our financial position is strong and there are great opportunities to continue developing operations to create increased shareholder value.

We summarise the year and are pleased with the great interest Kvarteret Johanna has garnered in Gothenburg. Several office leases have been signed with strong companies. The office market in Stockholm City was stable, though the letting processes were more protracted. Recovery in the retail sector will take time, unfortunately, but we are discerning several positive signs. Several brands see opportunities to establish themselves in attractive marketplaces in order to meet the improved purchasing power of households during 2025."

Questions can be answered by:

Anders Nygren, President, and Åsa Roslund, Vice President and CFO,
telephone [phone].

Appendix: Year-End Report 2024

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 February 13, 2025 at 12:15 CET.

Hufvudstaden
[phone]
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