Heimar hf.

Heimar hf.

IICE:HEIMAR
32.80
ISK
+0.20
(+0.61%)
2.74EPS
13.14P/E
71.75BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.11
3.44
3.88
4.35
4.58
5.01
5.42
5.43
6.04
6.73
7.62
8.23
8.6
8.18
Basic EPS, GAAP
1.87
1.61
3.06
2.78
2.41
1.87
2.47
0.71
3.39
1.61
2.11
4.57
4.42
2.74
Free Cash Flow per Basic Share
1.26
1.18
1.64
1.65
1.43
1.58
1.75
1.17
2.24
2.68
2.97
3.23
2.88
2.91
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
0.3
- -
0.83
- -
- -
0.4
- -
Book Value per Share
8.16
12.52
15.58
18.87
21.27
23.01
26.06
25.71
29.1
29.82
31.93
36.49
39.88
37.07
Tangible Book Value per Share
8.16
12.52
15.58
18.87
21.27
23.01
26.06
25.71
29.1
29.82
31.93
36.49
39.88
37.07
Basic Weighted Avg Shares
1,300
1,386
1,429
1,527
1,555
1,655
1,817
1,793
1,823
1,813
1,809
1,802
1,888
1,856
Sales/Revenue/Turnover
4,043
4,765
5,545
6,643
7,124
8,288
9,848
9,736
11,015
12,197
13,777
14,837
16,229
15,191
Operating Margin (%)
61.09
63.69
65.37
65.89
63.6
64.86
68
65.35
68.96
68.43
68.03
67.38
67.26
67.2
Depreciation Expense
4
5
7
9
9
14
14
19
15
21
35
57
69
63
Net Income, GAAP
2,434
2,229
4,376
4,243
3,747
3,102
4,486
1,274
6,172
2,914
3,818
8,233
8,352
5,086
Effective Tax Rate (%)
20.01
19.82
14.53
19.56
20.35
19.33
20.12
18.96
20.35
21.26
20.83
17.54
18.29
17.65
Profit Margin (%)
60.2
46.78
78.92
63.87
52.6
37.43
45.55
13.09
56.03
23.89
27.71
55.49
51.46
33.48
Working Capital
-4,163
-2,675
-103
-4,155
-2,918
-176
-1,754
651
-6,666
-6,903
-1,249
-2,576
-2,280
-3,993
LT Debt
20,440
29,822
37,600
44,506
53,431
77,534
82,884
91,024
90,236
104,403
115,656
115,398
135,420
130,255
Total Equity
13,542
17,888
22,264
29,341
34,652
42,024
46,042
46,872
53,043
53,960
57,778
64,521
79,483
73,888
Return on Invested Capital (%)
10.98
7.63
11.06
9.29
6.95
6.24
6.75
4.72
8.01
7.15
7.28
8.38
7.44
5.2
Return on Capital (%)
9.37
7.21
10.14
8.44
6.21
4.73
5.61
3.16
6
3.37
4.13
6.65
6.2
5.09
Return on Common Equity (%)
19.75
14.18
21.8
16.44
12
8.26
10.19
2.74
12.35
5.45
6.83
13.46
11.6
7.48

Capital Structure

ISK

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
5,537
- -
6,589
LT Borrowings
112,358
- -
124,732
LT Finance Leases
3,040
- -
5,523
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,768
1,773
1,993
Market Capitalization
68,956
63,476
71,747

Working Capital

ISK

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
4,707
- -
4,729
Cash, Cash Equivalents & STI
3,780
- -
3,395
Accounts Receivable, Net
726
- -
633
Inventories
- -
- -
- -
Total Current Liabilities
7,283
- -
8,722
Payables & Accruals
- -
- -
- -
ST Debt
5,537
- -
6,589
Deferred Revenue
- -
- -
- -

Growth Rates

ISK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.94%
11.37%
23.19%
Free Cash Flow
12.67%
25.21%
-6.59%
Net Income, GAAP
42.09%
95.96%
1.45%
Sales/Revenue/Turnover
11.49%
10.78%
9.38%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

ISK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,532
3,692
3,698
3,915
14,837
2025
3,686
3,892
- -
- -
16,229
2026
4,326
4,420
- -
- -
- -

Quarterly Earnings Per Share

ISK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.17
0.19
0.71
1.48
4.57
2025
0.78
-0.13
- -
- -
4.42
2026
1.15
1.18
- -
- -
- -

Quarterly Dividends Per Share

ISK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.4
2026
- -
- -
- -
- -
- -

Company Description

CEO
Halldór Benjamín Porbergsson
Full Time Employees
77
Sector
Finance
Industry
Real estate development
Address
HagasmAri 1 Kópavogur SU Iceland 201
IPO Date
Jul 2, 2012
Website
heimar.is
Business
Heimar hf. is an Iceland-based real estate investment, leasing, and asset-management company focused on commercial properties. The company operates primarily through ownership and management of a diversified portfolio concentrated in key Icelandic urban districts, including the Smaralindar area, the Reykjavik city center, Borgarnes? (Note: primary hubs cited are Smaralind, central Reykjavik, Borgartún, and Gardabaer centers), with activities spanning property acquisition, development, leasing, and property management services. Headquartered in Kópavogur, Iceland, Heimar hf. traces its origins to 2009 and operates under a strategic branding transition from Reginn hf. to Heimar hf. in 2024, with shares listed on Nasdaq Iceland. Main products and services: - Real estate investment: acquisition and ownership of commercial properties across Iceland, including shopping centers and office premises; asset portfolio management to optimize occupancy and value. - Leasing and property management: tenant relationship management, lease administration, rent collection, and operational oversight of property portfolios; development and refurbishment projects to upgrade space quality. - Development and redevelopment: execution of space expansions and refurbishments (e.g., phase-driven upgrades to existing properties) to increase rentable area and revenue potential. - Property development services: coordination of planning, construction, and handover of upgraded or newly created spaces to tenants; alignment with municipal regulations and local market needs. - Tenant services and facilities management: on-site operations support, maintenance, and facility services designed to enhance tenant experience and retention. Latest major company changes: - Brand refinement and corporate transition: completes branding shift from Reginn hf. to Heimar hf. in 2024, consolidating focus on core urban real estate investments and operations. - Portfolio optimization and expansion in core areas: continued consolidation and strengthening of core districts (Smaralind region, Reykjavik center, Borgartún, Gardabaer) to enhance concentration of premium properties and improve rental performance; ongoing optimization of this portfolio through selective acquisitions and disposals in the past 1–2 years. - Leasing and operational milestones: modernization and expansion initiatives at key properties (notably active redevelopment programs and staged deliveries with tenants leveraging newly refurbished or expanded space); specific tenants include health facilities and professional services which reinforce property usage in urban hubs. - Financial and corporate actions: ongoing reporting and disclosures aligned with Nasdaq Iceland requirements; updates to asset values, rental income progression, and occupancy statistics reflecting portfolio strength and market demand. Additional context: - Industry and segments: real estate investment, commercial property ownership, leasing operations, property development, and facilities management; emphasis on urban commercial assets. - Target markets and customer types: Icelandic tenants across retail, office, healthcare, and professional services sectors; multi-tenant property operations with emphasis on Icelandic urban demand. - Geographic footprint: primary operations in Iceland with portfolio concentration in Reykjavik metropolitan area and surrounding districts, including strategic centers such as Smaralind, central Reykjavik, Borgartún, and Gardabaer. - Corporate relationships: publicly listed on Nasdaq Iceland; prior corporate name Reginn hf. reflects a historical lineage and potential parent/sister relationships within Icelandic real estate peers. Note: Information reflects publicly available disclosures through 2024–2026 period, including name change and core portfolio strategy; for the most current figures (annual revenue, occupancy, specific property addresses, and new partnerships or acquisitions), refer to the latest company announcements and annual financial reports released to Nasdaq Iceland.