Income Statement Heba AB

Stocks

HEBA B

SE0017911480

Real Estate Development & Operations

Market Closed - Nasdaq Stockholm 12:00:00 2026-09-04 EDT			5-day change	1st Jan Change
25.60 ^SEK	+1.19%		+3.23%	-16.61%

09-01	Heba and Åke Sundvall take possession of development rights for 700 homes in Stockholm	FW
08-24	Heba launches share buyback program of up to 50 million kronor	FW

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Published financial data: HEBA AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Rental Revenues	450M	510M	566M	562M	605M
Other Revenues, Total	-841K	-1.18M	35.93M	-8.63M	-6.59M
Total Revenues	449M	509M	602M	553M	599M
Property Expenses	137M	148M	164M	158M	166M
Selling General & Admin Expenses, Total	37.2M	38.24M	36.52M	38.92M	42.25M
Total Operating Expenses	174M	186M	200M	197M	208M
Operating Income (REIT / Utility Template)	275M	322M	402M	356M	391M
Interest Expense, Total	-8.99M	118M	-309M	-210M	-209M
Interest and Investment Income	18.7M	24.63M	34.34M	25.2M	14.12M
Net Interest Expenses	9.71M	143M	-275M	-185M	-195M
Other Non Operating Income (Expenses)	-	-	-10.63M	-	2K
EBT, Excl. Unusual Items	285M	465M	116M	171M	196M
Gain (Loss) on Sale of Investments	-	-	-	-59.31M	-8.8M
Gain (Loss) on Sale of Assets	-1.58M	-86K	-75.36M	-7.16M	-246K
Asset Writedown	1.49B	-603M	-1.08B	37.85M	190M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1.77B	-138M	-1.04B	142M	377M
Income Tax Expense	298M	-2.08M	-332M	43.77M	88.36M
Earnings From Continuing Operations	1.48B	-136M	-712M	98.68M	289M
Net Income to Company	1.48B	-136M	-712M	98.68M	289M
Net Income - (IS)	1.48B	-136M	-712M	98.68M	289M
Net Income to Common Incl Extra Items	1.48B	-136M	-712M	98.68M	289M
Net Income to Common Excl. Extra Items	1.48B	-136M	-712M	98.68M	289M
Per Share Items
Net EPS - Basic	8.93	-0.82	-4.31	0.6	1.8
Basic EPS - Continuing Operations	8.93	-0.82	-4.31	0.6	1.8
Basic Weighted Average Shares Outstanding	165M	165M	165M	165M	160M
Net EPS - Diluted	8.93	-0.82	-4.31	0.6	1.8
Diluted EPS - Continuing Operations	8.93	-0.82	-4.31	0.6	1.8
Diluted Weighted Average Shares Outstanding	165M	165M	165M	165M	160M
Normalized Basic EPS	1.08	1.76	0.44	0.65	0.76
Normalized Diluted EPS	1.08	1.76	0.44	0.65	0.76
Dividend Per Share	0.8	0.45	0.52	0.52	0.55
Payout Ratio	7.28	-96.97	-10.43	87.01	29.76
Supplemental Items
EBITDA	277M	325M	404M	359M	394M
EBITA	275M	322M	402M	356M	391M
EBIT	275M	322M	402M	356M	391M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	16.83	1.5	31.78	30.73	23.44
Current Domestic Taxes	333K	170K	-338K	2.46M	1.37M
Total Current Taxes	333K	170K	-338K	2.46M	1.37M
Deferred Domestic Taxes	298M	-2.25M	-331M	41.31M	86.99M
Total Deferred Taxes	298M	-2.25M	-331M	41.31M	86.99M
Normalized Net Income	178M	291M	72.36M	107M	122M
Interest Capitalized	-	-	-	-	4.19M
Interest on Long-Term Debt	8.37M	7.65M	6.34M	4.05M	8.51M
Supplemental Operating Expense Items
General and Administrative Expenses	37.2M	38.24M	36.52M	38.92M	42.25M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	5.06M	3.58M	3.4M	2.31M	3.14M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Assets
Gross Property Plant And Equipment	14.84B	15.89B	12.91B	13.75B	14.18B
Accumulated Depreciation	-8.07M	-8.61M	-7.68M	-8.66M	-6.65M
Net Property Plant And Equipment	14.84B	15.88B	12.91B	13.74B	14.17B
Total Real Estate Assets	14.84B	15.88B	12.91B	13.74B	14.17B
Cash And Equivalents	159M	101M	247M	36.47M	17.24M
Accounts Receivable, Total	2.06M	2.57M	1.76M	2.62M	755K
Other Receivables	30.34M	56.06M	11.24M	25.72M	20.26M
Investment In Debt and Equity Securities	25.94M	228M	99.45M	54.98M	29.3M
Other Intangibles, Total	6.8M	6.39M	5.33M	9.81M	8.4M
Other Current Assets, Total	22.16M	23.02M	13.41M	16.29M	19.75M
Other Long-Term Assets, Total	434M	458M	340M	277M	277M
Total Assets	15.52B	16.76B	13.63B	14.17B	14.54B
Liabilities
Current Portion of Long-Term Debt	1.74B	1.73B	712M	1.72B	1.49B
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	4.29B	5.8B	4.92B	4.35B	4.98B
Long-Term Leases	158M	157M	126M	144M	153M
Accounts Payable, Total	28.37M	13.76M	18.65M	16.52M	10.62M
Accrued Expenses, Total	73.26M	35.02M	32.9M	33.05M	33.45M
Current Income Taxes Payable	-	-	-	3.11M	-
Unearned Revenue, Current	-	45.62M	42.31M	54.28M	59.39M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	28.76M	35.96M	12.7M	12.31M	13.28M
Deferred Tax Liability Non-Current	1.71B	1.71B	1.33B	1.37B	1.45B
Other Non Current Liabilities	-	-	-	8.25M	-
Total Liabilities	8.02B	9.53B	7.19B	7.72B	8.2B
Common Stock, Total	34.4M	34.4M	34.4M	34.4M	34.4M
Additional Paid In Capital	6.88M	6.88M	6.88M	6.88M	6.88M
Retained Earnings	7.45B	7.18B	6.4B	6.41B	6.3B
Total Common Equity	7.49B	7.22B	6.44B	6.45B	6.34B
Total Equity	7.49B	7.22B	6.44B	6.45B	6.34B
Total Liabilities And Equity	15.52B	16.76B	13.63B	14.17B	14.54B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	165M	165M	165M	165M	165M
ECS Total Common Shares Outstanding	165M	165M	165M	165M	165M
Book Value / Share	45.38	43.75	38.99	39.07	38.42
Tangible Book Value	7.49B	7.22B	6.43B	6.44B	6.34B
Tangible Book Value Per Share	45.34	43.71	38.95	39.01	38.37
Total Debt	6.18B	7.69B	5.75B	6.22B	6.63B
Net Debt	6.02B	7.59B	5.51B	6.18B	6.61B
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	291K	413M	290M	246M	253M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	13.36M	15.7M	15.15M	19.01M	20.31M
Full Time Employees	-	46	40	43	41
Part Time Employees	-	1	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	2.12M	2.28M	2.2M	2.98M	3.84M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Net Income	1.48B	-136M	-712M	98.68M	289M
Depreciation, Depletion & Amortization	2.31M	2.87M	2.33M	2.57M	3.28M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Total Depreciation, Depletion & Amortization	2.31M	2.87M	2.33M	2.57M	3.28M
Amortization of Deferred Charges, Total	671K	1.01M	1.06M	1.23M	1.4M
Total Asset Writedown	-	-	-	18M	-
(Income) Loss On Equity Investments - (CF)	-	-	-	49.94M	15.39M
Change in Accounts Receivable	-22.35M	-22.67M	49.8M	-15.1M	-
Change in Other Net Operating Assets (Collected)	25.9M	-3.77M	-24.27M	12.21M	567K
Other Operating Activities	-1.25B	355M	935M	46.67M	-92.68M
Cash from Operations	233M	197M	252M	214M	216M
Acquisition of Real Estate Assets, Total	-1.4B	-1.65B	-331M	-904M	-304M
Sale of Real Estate Assets, Total	355M	2.43M	2.07B	105M	83M
Net Sale / Acquisition of Real Estate Assets	-1.04B	-1.65B	1.73B	-798M	-221M
Purchase / Sale of Intangible Assets	-5.67M	-595K	-	-5.71M	-
Investment in Marketable and Equity Securities, Total	-25M	-193K	-19.58M	13.15M	-44.07M
Other Investing Activities, Total	-	-	58M	3.42M	27.31M
Cash from Investing	-1.07B	-1.65B	1.77B	-787M	-238M
Long-Term Debt Issued, Total	3.18B	3.99B	1.41B	1.09B	2.7B
Total Debt Issued	3.18B	3.99B	1.41B	1.09B	2.7B
Long-Term Debt Repaid, Total	-2.07B	-2.48B	-3.32B	-645M	-2.3B
Total Debt Repaid	-2.07B	-2.48B	-3.32B	-645M	-2.3B
Repurchase of Common Stock	-	-	-377K	-	-310M
Common Dividends Paid	-107M	-132M	-74.3M	-85.85M	-85.86M
Common & Preferred Stock Dividends Paid	-107M	-132M	-74.3M	-85.85M	-85.86M
Other Financing Activities, Total	-99.04M	20.08M	103M	-	1K
Cash from Financing	904M	1.4B	-1.88B	363M	1.85M
Net Change in Cash	61.68M	-58.02M	146M	-211M	-19.23M
Supplemental Items
Cash Interest Paid	67.33M	109M	176M	162M	188M
Cash Income Tax Paid (Refund)	1.11M	103K	-330K	529K	2.06M
Net Debt Issued / Repaid	1.11B	1.51B	-1.91B	448M	397M
Levered Free Cash Flow	258M	246M	88.56M	80.44M	112M
Unlevered Free Cash Flow	263M	172M	282M	212M	242M
Change In Net Working Capital	-95.72M	27.14M	-31.45M	5.5M	-1.32M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Profitability
Return on Assets	1.21	1.25	1.65	1.6	1.7
Return on Total Capital	1.38	1.41	1.85	1.79	1.9
Return On Equity %	21.67	-1.85	-10.43	1.53	4.51
Return on Common Equity	21.67	-1.85	-10.43	1.53	4.51
Margin Analysis
Gross Profit Margin %	69.54	70.87	72.82	71.43	72.28
SG&A Margin	8.29	7.52	6.07	7.04	7.05
EBITDA Margin %	61.77	63.92	67.14	64.86	65.77
EBITA Margin %	61.26	63.35	66.75	64.4	65.22
EBIT Margin %	61.26	63.35	66.75	64.4	65.22
Income From Continuing Operations Margin %	328.7	-26.78	-118.41	17.84	48.18
Net Income Margin %	328.7	-26.78	-118.41	17.84	48.18
Net Avail. For Common Margin %	328.7	-26.78	-118.41	17.84	48.18
Normalized Net Income Margin	39.64	57.14	12.03	19.33	20.45
Levered Free Cash Flow Margin	57.43	48.3	14.72	14.54	18.65
Unlevered Free Cash Flow Margin	58.68	33.78	46.87	38.31	40.44
Asset Turnover
Asset Turnover	0.03	0.03	0.04	0.04	0.04
Fixed Assets Turnover	0.03	0.03	0.04	0.04	0.04
Receivables Turnover (Average Receivables)	211.74	220.17	261.15	256.63	358.89
Short Term Liquidity
Current Ratio	0.11	0.1	0.33	0.04	0.04
Quick Ratio	0.1	0.09	0.32	0.04	0.02
Operating Cash Flow to Current Liabilities	0.12	0.11	0.31	0.12	0.13
Days Sales Outstanding (Average Receivables)	1.72	1.66	1.4	1.43	1.02
Average Days Payable Outstanding	86.54	51.89	36.17	40.73	29.83
Long Term Solvency
Total Debt/Equity	82.51	106.47	89.39	96.44	104.47
Total Debt / Total Capital	45.21	51.57	47.2	49.09	51.09
LT Debt/Equity	59.36	82.49	78.34	69.71	80.98
Long-Term Debt / Total Capital	32.52	39.95	41.36	35.49	39.6
Total Liabilities / Total Assets	51.71	56.88	52.75	54.47	56.38
EBIT / Interest Expense	30.58	-2.73	1.3	1.69	1.87
EBITDA / Interest Expense	30.83	-2.75	1.31	1.71	1.89
(EBITDA - Capex) / Interest Expense	30.67	-2.7	1.29	1.69	1.85
Total Debt / EBITDA	22.3	23.65	14.25	17.34	16.83
Net Debt / EBITDA	21.73	23.34	13.64	17.24	16.78
Total Debt / (EBITDA - Capex)	22.42	24.08	14.39	17.5	17.17
Net Debt / (EBITDA - Capex)	21.85	23.76	13.77	17.4	17.13
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.98	13.35	18.25	-10.43	8.27
Gross Profit, 1 Yr. Growth %	14.1	15.51	21.5	-12.97	9.55
EBITDA, 1 Yr. Growth %	14.5	17.29	24.21	-14.18	9.78
EBITA, 1 Yr. Growth %	14.72	17.24	24.59	-14.68	9.65
EBIT, 1 Yr. Growth %	14.72	17.24	24.59	-14.68	9.65
Earnings From Cont. Operations, 1 Yr. Growth %	105.41	-109.23	422.93	-113.85	192.4
Net Income, 1 Yr. Growth %	105.41	-109.23	422.93	-113.85	192.4
Diluted EPS Before Extra, 1 Yr. Growth %	105.41	-109.23	422.94	-113.85	200.84
Normalized Net Income, 1 Yr. Growth %	71.01	63.41	-75.11	20.17	14.53
Net Property, Plant and Equip., 1 Yr. Growth %	21.41	7.05	-18.73	6.48	3.1
Accounts Receivable, 1 Yr. Growth %	-5.9	24.96	-31.64	48.89	-71.17
Total Assets, 1 Yr. Growth %	21.45	7.99	-18.69	3.97	2.65
Common Equity, 1 Yr. Growth %	22.33	-3.58	-10.89	0.2	-1.66
Tangible Book Value, 1 Yr. Growth %	22.26	-3.58	-10.89	0.13	-1.64
Cash From Operations, 1 Yr. Growth %	24	-15.54	28.26	-9.02	1.07
Capital Expenditures, 1 Yr. Growth %	-41.97	281.8	-33.16	-13.43	140.01
Levered Free Cash Flow, 1 Yr. Growth %	-7.46K	-4.66	-63.96	-16.84	38.82
Unlevered Free Cash Flow, 1 Yr. Growth %	485.74	-34.74	64.08	-26.97	14.28
Dividend Per Share, 1 Yr. Growth %	23.08	-43.75	15.56	0	5.77
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	7.5	13.66	15.78	4.27	-1.52
Gross Profit, 2 Yr. CAGR %	9.34	14.8	18.47	4.69	-2.36
EBITDA, 2 Yr. CAGR %	8.83	15.89	20.7	5.04	-2.93
EBITA, 2 Yr. CAGR %	8.9	15.97	20.86	5.13	-3.28
EBIT, 2 Yr. CAGR %	8.9	15.97	20.86	5.13	-3.28
Earnings From Cont. Operations, 2 Yr. CAGR %	42.73	-56.45	-30.51	-14.89	-36.36
Net Income, 2 Yr. CAGR %	42.73	-56.45	-30.51	-14.89	-36.36
Diluted EPS Before Extra, 2 Yr. CAGR %	42.73	-56.45	-30.51	-14.88	-35.44
Normalized Net Income, 2 Yr. CAGR %	34.85	67.17	-36.22	-39.36	17.31
Net Property, Plant and Equip., 2 Yr. CAGR %	20.02	14	-6.73	-6.98	4.78
Accounts Receivable, 2 Yr. CAGR %	77.71	8.44	-7.57	0.89	-34.48
Total Assets, 2 Yr. CAGR %	22.15	14.52	-6.29	-8.05	3.31
Common Equity, 2 Yr. CAGR %	16.66	8.61	-7.31	-5.51	-0.73
Tangible Book Value, 2 Yr. CAGR %	16.63	8.57	-7.31	-5.54	-0.76
Cash From Operations, 2 Yr. CAGR %	16.1	2.34	4.08	4.39	-4.11
Capital Expenditures, 2 Yr. CAGR %	-43.23	48.84	59.75	-23.93	44.15
Levered Free Cash Flow, 2 Yr. CAGR %	66.45	737.96	-41.38	-42.78	7.44
Unlevered Free Cash Flow, 2 Yr. CAGR %	36.68	95.51	3.48	11.04	-8.64
Dividend Per Share, 2 Yr. CAGR %	15.47	-16.8	-19.38	7.5	2.84
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.65	9.42	15.17	7.22	5.59
Gross Profit, 3 Yr. CAGR %	7.65	11.36	17	8.18	6.28
EBITDA, 3 Yr. CAGR %	7.62	11.58	18.6	8.98	6.6
EBITA, 3 Yr. CAGR %	7.61	11.61	18.78	9.02	6.62
EBIT, 3 Yr. CAGR %	7.61	11.61	18.78	9.02	6.62
Earnings From Cont. Operations, 3 Yr. CAGR %	31.17	-42.7	-0.27	-59.41	28.42
Net Income, 3 Yr. CAGR %	31.17	-42.7	-0.27	-59.41	28.42
Diluted EPS Before Extra, 3 Yr. CAGR %	31.17	-42.7	-0.27	-59.41	29.65
Normalized Net Income, 3 Yr. CAGR %	10.13	43.77	-11.4	-15.61	-25.04
Net Property, Plant and Equip., 3 Yr. CAGR %	15.37	15.53	1.84	-2.52	-3.73
Accounts Receivable, 3 Yr. CAGR %	6.35	58.03	-7.02	8.35	-33.55
Total Assets, 3 Yr. CAGR %	16.85	17.24	2.17	-2.99	-4.61
Common Equity, 3 Yr. CAGR %	15.42	9.48	1.67	-4.87	-4.24
Tangible Book Value, 3 Yr. CAGR %	15.41	9.46	1.65	-4.89	-4.26
Cash From Operations, 3 Yr. CAGR %	11.02	4.42	10.34	-2.73	3.27
Capital Expenditures, 3 Yr. CAGR %	-27.82	7.15	13.98	30.24	11.57
Levered Free Cash Flow, 3 Yr. CAGR %	25.79	38.23	193.59	-32.17	-23.12
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.93	6.83	84.41	-6.99	12.11
Dividend Per Share, 3 Yr. CAGR %	13.3	-9.14	-7.17	-13.38	6.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.72	8.73	9.59	7.33	8.75
Gross Profit, 5 Yr. CAGR %	11.44	10.91	11.85	8.64	9.61
EBITDA, 5 Yr. CAGR %	11.17	11.53	12.68	8.92	10.22
EBITA, 5 Yr. CAGR %	11.18	11.52	12.73	8.97	10.26
EBIT, 5 Yr. CAGR %	11.18	11.52	12.73	8.97	10.26
Earnings From Cont. Operations, 5 Yr. CAGR %	31.69	-18.02	1.73	-32.88	-16.67
Net Income, 5 Yr. CAGR %	31.69	-18.02	1.73	-32.88	-16.67
Diluted EPS Before Extra, 5 Yr. CAGR %	31.69	-18.02	1.73	-32.87	-16.19
Normalized Net Income, 5 Yr. CAGR %	19.48	25.1	-11.49	1.79	3.31
Net Property, Plant and Equip., 5 Yr. CAGR %	14.53	12.6	5.96	5.94	3
Accounts Receivable, 5 Yr. CAGR %	2.68	63.98	0.54	32.06	-19.17
Total Assets, 5 Yr. CAGR %	15.4	13.74	6.98	6.38	2.62
Common Equity, 5 Yr. CAGR %	13.42	10.97	5.73	3.22	0.7
Tangible Book Value, 5 Yr. CAGR %	13.42	10.96	5.72	3.19	0.68
Cash From Operations, 5 Yr. CAGR %	9.04	2.63	8.19	4.41	2.9
Capital Expenditures, 5 Yr. CAGR %	-10.53	26.72	-0.82	-6.57	25.21
Levered Free Cash Flow, 5 Yr. CAGR %	31.02	14.2	-7.32	-2.87	99.89
Unlevered Free Cash Flow, 5 Yr. CAGR %	22.39	2.87	15.86	8.49	40.04
Dividend Per Share, 5 Yr. CAGR %	14.87	0	-1.12	-2.82	-3.29