Definitions
Humlegården presents a number of financial performance measures that are not defined in accordance with IFRS. The aim of these performance measures is to supplement the analysis and enable an evaluation of the company’s performance by stakeholders and management.
Property-related
Area, m2 1)
Leasable area, not including area forgarage and parking spaces.
Required yield, % 1)
Assessment of the required yield set by an investor to invest in a market that reflects the risk and expected future value.
Total energy performance, kWh/m2 1)
Total energy per m2, including the following types of energy: heating, cooling and energy used in buildings.
Rental value, SEK M 1)
Contracted rent and assessed market rent for vacant premises.
Comparable holding
Refers to property holdings throughout the entire reporting period and comparative period. Properties acquired, sold or classified as project properties during this period are not included.
Market value, property, SEK M 1)
The most probable price in the event of the sale of the valuation object on an open and free property market. The sale is assumed to take place at the time of valuation after the property is offered for sale in a customary manner for the property during a normal marketing period. This is referred to as fair value in accounting terms.
Prime yield, % 1)
Required yield for a fully leased property of the best quality, in the best location and with the best composition of tenants.
Project property 1)
The property, or well-separated part of the property, that has been emptied with the objective of converting and refurbishing the property.
Financial rentability, % 1)
Contracted rent divided by rental value.
Profit margin, %
Net operating surplus divided by rental income.The profit margin shows the current earnings capacity of the property management operations and corresponds to the portion of rental income remaining after deductions for property expenses.
Finance-related
Return on equity, %
Profit for the year/period divided by average equity. In the six-month financial statements, the return is restated on a full-year basis without taking seasonal variations into account. Shows the Group’s capacity to generate a return on capital contributed by the owners.
Return on total capital, %
Profit before tax plus a reversal of interest expenses divided by average total assets. In the six-month financial statements, the return is restated on a full-year basis without taking seasonal variations into account. Shows the Group’s capacity to generate a return on total contributed capital.
Loan-to-value ratio, %
Interest-bearing liabilities less cash and cash equivalents divided by the market value of the properties. The loan-to-value ratio is used to show financial risk.
Net operating surplus, SEK M
Income less property expenses (operating and maintenance expenses, site leasehold fees, property tax and property administration).
Average capital tied up period, %
Average remaining period until final maturity for external interest-bearing loans on the balance-sheet date. This performance measure is used to show financing risk.
Average interest rate, %
Average interest rate on the external interest-bearing liabilities on the balance-sheet date. This performance measure is used to show the Group’s current interest rate for external interest-bearing liabilities on the balance-sheet date.
Average fixed-interest period, %
Average remaining period until interest settlement date for external interest-bearing liabilities on the balance-sheet date. This performance measure is used to show interest-rate risk.
Interest-coverage ratio, multiple
Profit from property management plus a reversal of interest expenses divided by interest expenses. The interest-coverage ratio is used to show the sensitivity of earnings to interest-rate changes and to assess financial risk.
Debt/equity ratio, multiple
Interest-bearing liabilities divided by equity. The debt/equity ratio shows the company’s financial risk.
Equity/assets ratio, %
Equity divided by total assets. The equity/assets ratio is used to show the company’s financial stability.
Net worth, SEK M
Recognised equity plus a reversal of the fair value of interest-rate derivatives and deferred tax attributable to these derivatives. Net worth shows the owner’s net value in Humlegården.
Net worth per share, SEK
Net worth divided by the number of shares outstanding at the end of the period. This performance measure shows net worth per share.
Change in net worth per share, %
Change in net worth per share during the year divided by opening net worth per share. Change in net worth shows the change in net worth during the period.
1) Performance measure is of an operational nature and is not an alternative performance measured according to the guidelines of the European Securities and Markets Authority (ESMA).