Heimstaden Czech has increased its revenue from rental and sales of services to tenants by CZK 578.4 million (€23.5 million), as per the annual report published in the Collection of Documents, reports newstream.cz.
Heimstaden Czech is a private provider of rental housing in the Czech Republic. It owns almost 42 thousand apartments, mainly in the Moravian-Silesian Region, with almost 80 thousand people living in them. Since 2020, it has been part of a Scandinavian multinational group, which is among the largest providers of rental housing in Europe.
The report states that the company's net profit from real estate investments fell from CZK 3.56 billion (€144.6 million) the year before last to CZK 3.36 billion (€136.5 million). The company generated a net profit of CZK 4.49 billion (€182 million).
The company's management stated that 2024 was finally a year without high inflation after two previous years, and the increase in heating and hot water prices has also moderated. “Nevertheless, we continued to invest heavily in the insulation of our houses and related investments. It is still one of the most effective ways to keep our tenants’ payments for heating and hot water charged to their suppliers as low as possible,” said Heimstaden’s management. For example, the company insulated 1,776 apartments for almost CZK 700 million (€28.4 million).
Heimstaden sold 32 residential properties in the Moravian-Silesian Region with a total of 581 apartments. The total value of the transaction is CZK 1 billion (€40.6 million).
