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2016-07-21

Hemfosa Fastigheter AB: Interim report January - June 2016

This information is information that Hemfosa Fastighter AB is obliged
to make public pursuant to the EU Market Abuse Regulation and the
Securities Markets Act. The information was submitted for
publication, through the agency of the contact person set out below,
at 07.30 CET on July 21, 2016.

SUCCESSFUL SHARE ISSUE AND CONTINUED STREAMLINING

QUARTER APRIL-JUNE 2016

· Rental income amounted to MSEK 642 (615)

· Profit from property management totaled MSEK 352 (346),
corresponding to SEK 2.23 per ordinary share (2.36)

· Profit after tax amounted to MSEK 703 (670), corresponding to SEK
4.62 per ordinary share (4.62)

· Cash flow from operating activities was MSEK 121 (153),
corresponding to SEK 0.64 per ordinary share (0.94)

INTERIM PERIOD JANUARY - JUNE 2016

· Rental income amounted to MSEK 1,292 (1,203)

· Profit from property management totaled MSEK 693 (613),
corresponding to SEK 4.61 per ordinary share (4.13)

· Profit after tax amounted to MSEK 1,357 (1,177), corresponding to
SEK 9.37 per ordinary share (8.21)

· Recognized property value of SEK 31.9 billion (27.8) pertains to 417
(366) directly owned properties

· Net asset value (EPRA NAV) per ordinary share was SEK 81.58 (65.43)

· Cash flow from operating activities was MSEK 414 (537),
corresponding to SEK 2.60 per ordinary share (3.57)

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

· In July, Joacim Sjöberg was appointed deputy CEO, taking office in
October 2016. At the same time, CEO Jens Engwall announced that he
planned to step down from his operational position prior to the end
of 2017.

· A successful new share issue, with preferential rights for holders
of ordinary Hemfosa shares, contributed approximately SEK 1.8 billion
to the company.

· Hemfosa's 2016 Annual General Meeting (AGM) was held on April 19.
Motions adopted by the AGM included payment of a dividend of SEK 4.20
per ordinary share and of SEK 10.00 per preference share both to be
paid quarterly.

· Hemfosa acquired 13 school properties properties at an underlying
property value of approximately MSEK 444. During the quarter,
possession was taken of ten of the properties.

· Söderport Fastigheter, a joint venture in which Hemfosa owns 50
percent, divested a property at an underlying property value of MSEK
170.

· Hemfosa acquired a healthcare property in the Stockholm area at an
underlying property value of MSEK 195.

· Hemfosa took over an office property in the municipality of
Fredrikstad Norway at an underlying property value of MSEK 84.

COMMENTS FROM THE CEO

During the second quarter, Hemfosa implemented a rights issue of
ordinary shares that contributed just over SEK 1.8 billion to the
company. Thanks to the rights issue, we can take swifter action when
we identify the right acquisition targets and continue to grow our
community service properties. To strengthen Hemfosa's management and
ensure that the company's long-term strategy is implemented
forcefully, we have employed Joacim Sjöberg as deputy CEO.

By focusing on community service properties, we are building a
property portfolio hallmarked by stable cash flows and long-term
tenants. The major acceptance of the rights issue among our
shareholders was highly encouraging and strengthens us in our
conviction that we are thinking correctly and doing the right things
- and we now have a better platform for continuing to grow Hemfosa in
our three markets in the Nordic region. We are doing this with the
distinct objective of streamlining the portfolio so that community
service properties will account for at least 75 percent of the
property value; today, they represent 63 percent.

STRONGER PLATFORM IN THE NORDIC REGION

During the quarter, we implemented a number of favorable transactions
and strengthened our profit from property management. In Sweden, we
acquired 13 school properties, primarily in the Stockholm region, at
a value of MSEK 444, with an exclusive option to sign an agreement in
the third quarter of 2016 to acquire an additional two schools. These
are properties in good locations that are fully leased to
well-established school operators, and we are delighted to be able to
complement our portfolio with them. In June, we also signed an
agreement for the acquisition of a centrally located healthcare
property in Vällingby, western Stockholm, at a value of MSEK 195,
with possession to be taken in September. In the Norwegian market
during the quarter, we acquired a 20-percent stake in a property
company focused on community service properties, while also taking
possession of the Ringstabekk senior citizens center in the
municipality of Bærum in the Oslo region. We are continuing our
determined and active efforts to build Hemfosa's position as the
specialist in community service properties. It is gratifying that,
despite intensifying competition not least in Sweden, we are
maintaining a high transaction tempo and completing acquisitions on
favorable terms - which was the precondition we set when implementing
the rights issue during the spring. A key prerequisite for this is
the expertise, determination and market familiarity possessed by
Hemfosa's organization.

SAFEGUARDING COMPETENCIES AND SUCCESSION PLANNING

In Norway, we have continued to strengthen the organization through
the appointment of an experienced head of property operations, who
will focus on developing our property management, thus providing
management in Norway with better prerequisites to identify and
implement attractive acquisitions and projects. In Norway, we are now
established with the strength we need to manage a growing portfolio
and, in Finland, we are working to get an optimal organization in
place. I am delighted that Joacim Sjöberg will be strengthening Group
Management as Deputy CEO starting this autumn, and will thus ensure
the continued building of Hemfosa Fastigheter. Joacim Sjöberg has
been close to the company as a financial adviser for many years; he
possesses solid strategic expertise and is highly familiar with
Hemfosa's corporate culture. With him in the organization, we can
continue our efforts to achieve our objectives and I can start to
plan an orderly succession and eventually focus on playing a freer
role as a major shareholder and ideally as a Board member.

Meanwhile, we will devote our full force to continuing to implement
value-creating business and developing the existing operations in our
markets in the Nordic region.

Jens Engwall, CEO

For further information, please contact:

Jens Engwall, CEO, jens.engwall@hemfosa.se, mobile +46 70 690 65 50

Karin Osslind, CFO, karin.osslind@hemfosa.se, mobile +46 70 794 93 37

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http://news.cision.com/hemfosa-fastigheter-ab/r/interim-report-january--...
http://mb.cision.com/Main/7964/2049051/542347.pdf

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