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HEIMSTADEN ANNUAL REPORT WITH SUSTAINABILITY REPORT Contents
OUR BUSINESS 1 Heimstaden’s journey of growth 2 A comment from our CEO • 5 Significant events in 2019 6 Our vision and the path ahead 8 Values we generate 10 Our strategy 11 Our business model 13 Our core values 14 Heimstaden as an investment 15 Earning capacity • 16 Importance of partnerships
18 OUR MARKET 20 Heimstaden’s market 26 Regulated and unregulated market 28 Geographic distribution 32 Sweden 34 Denmark Administration Report and Financial information Heimstaden AB’s Annual Report is published in Swedish and English. The Swedish version is the original and has been 36 Norway audited by Heimstaden’s auditor. The annual and consolidated accounts for the 2019 38 Germany financial year and the Administration Report are presented on pages 5, 16–17 and 44–55, 74–87 of this document. The financial information is presented on pages 40 Netherlands 98–141 of this document. The Audit Report is also presented on pages 142–144.
Other external review The Auditor has reviewed the Corporate Governance Report on 42 HOW WE WORK pages 88–95 in accordance with FAR’s auditing standard RevU 16 The auditor’s • 44 Analysis and transactions examination of the corporate governance statement. The Auditor has reviewed the Sustainability Report on pages 148 –163, in accordance with FAR’s recommendation • 46 Project and property development RevR 12 Auditor’s opinion regarding the statutory Sustainability Report. • 50 Property management Reporting under GRI Standards For 2019, Heimstaden is reporting on sustainability in accordance with the GRI SUSTAINABILITY Standards, Global Reporting Initiative’s guidelines for sustainability reporting, at the core level. An overview of the 56 Responsible business GRI index is found on pages 153 –154. 64 Employees Heimstaden and the Global Compact Since 2019, 68 Environmentally efficient properties Heimstaden has been affiliated to the UN Global Compact, an initiative for responsible business practices, focusing HOW OUR OPERATIONS ARE GOVERNED on the environment, working conditions, human rights and anti-corruption. • 74 Well-balanced capital structure • 80 The preference share • 82 Risks and risk management 88 Corporate governance and internal control 92 Board of Directors 94 Senior positions
97 FINANCIAL INFORMATION • 98 Consolidated financial statements • 106 Accounting principles and notes to the consolidated accounts • 130 Parent Company financial statements • 134 Accounting principles and notes to the Parent Company accounts • 140 Appropriation of profit • 141 Signing of the Annual Report 142 Audit Report 146 Multi-year overview
148 SUSTAINABILITY REPORT
166 Shareholder information 168 Definitions and glossary
Refers to audited sections. Pages 5, 16–17, 44–55, 74–87 and 98–141 form part of Heimstaden’s formal Annual Report and have been subject to review by the company’s auditors.
HEIMSTADEN ANNUAL REPORT 2019 HEIMSTADEN IN BRIEF
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