Financial definitions
Actual net asset value (EPRA NNNAV), SEK
Equity attributable to the ordinary share, excluding equity associated with preference and D shares, non-controlling interests and hybrid bonds, adjusted for estimated actual deferred tax at 5.5 percent and reversal of goodwill attributable to deferred tax. The key figure provides an adjusted and complementary measure of the size of equity calculated in a manner consistent with listed property companies.
Number of preference shares outstanding
The number of preference shares outstanding at the end of the period.
Number of ordinary shares outstanding
The number of ordinary shares outstanding at the end of the period.
Return on equity, %
Net profit for the period in relation to average equity for the period.
The key figure shows SBB’s return on equity during the period.
Loan-to-value ratio, %
Net debt in relation to total assets. The key figure is used to illustrate SBB’s financial risk.
EPRA
European Public Real Estate Association is an organization for listed property companies and investors in Europe. EPRA sets standards regarding financial reporting.
EPRA Earnings, SEK Profit from property management less estimated current tax attributable to the profit from property management. Taxable profit from property management refers to profit from property management less tax deductible depreciation and renovations. The key figure provides information on profit from property management calculated in a uniform manner for listed property companies.
Profit from property management
Profit before changes in value and tax.
The key figure provides a measurement of the operations’ profit generation regardless of value changes.
Average number of preference shares
The number of preference shares outstanding weighted over the period.
Average number of ordinary shares
The number of ordinary shares outstanding weighted over the period.
Average interest, %
Weighted average contracted interest for interest-bearing liabilities at the end of the period excluding unutilized credit facilities. The key figure is used to illustrate SBB’s financial risk.
Average fixed interest term, years Average remaining duration until an interest-adjustment point for interest-bearing liabilities.
The key figure is used to illustrate SBB’s financial risk.
Adjusted equity/assets ratio, %
Reported equity including owner loans and convertibles, with reversal of reported deferred tax liability as a percentage of total assets. The key figure is used to illustrate SBB’s financial stability.
Tied-up capital, year
Remaining maturity of interest-bearing liabilities.
The key figure is used to illustrate SBB’s financial risk.
Cash flow from operating activities, SEK
Cash flow from operating activities before changes in working capital according to the cash flow statement.
Long-term net asset value (EPRA NAV), SEK
Recognized equity attributable to the ordinary share, excluding equity associated with preference and D shares, non-controlling interests and the hybrid bond, adding back deferred tax liability, goodwill attributable to deferred tax and interest rate derivatives. The key figure provides an adjusted and complementary measure of the size of equity calculated in a manner consistent with listed property companies.
Net debt, SEK
Interest-bearing liabilities less cash and cash equivalents.
Earnings per ordinary share A and B, SEK Net profit for the period after dividend to preference shareholders and holders of D shares and interest on hybrid bonds in relation to the average number of ordinary shares A and B for the period.
Interest-coverage ratio, multiple Profit from property management (past 12 months) after return of financial costs in relation to financial coasts excluding costs for early repayment of loans and leasing costs. The key figure is used to illustrate financial risk.
Equity/assets ratio, %
Reported equity as a percentage of total assets. The key figure is used to illustrate SBB’s financial stability.
Secured loan-to-value ratio, % Secured liabilities as a percentage of the total assets. The key figure is used to illustrate SBB’s financial stability.
Property-related definitions
Number of properties
Number of properties at the end of the period
Number of sq.m.
Total area in the property portfolio at the end of the period
GFA
Gross floor area
Net operating income, SEK
Rental income less property costs.
Economic occupancy ratio, %
Rental income in relation to rental value.
The key figure is used to illustrate the level of return on the operating net in relation to the value of the properties
EPRA Vacancy rate, %
The rental value of available leases divided by the rental value of the entire portfolio.
The key figure is calculated in accordance with the EPRA definition, which enables comparison with other companies.
EPRA Earnings, SEK
Profit from property management less estimated current tax attributable to the profit from property management. Taxable profit from property management refers to profit from property management less tax deductible depreciation and renovations.
The key figure provides information on profit from property management calculated in a uniform manner for listed property companies.
Average contract length of social infrastructure properties, years
Remaining contract value in relation to annual rent for social infrastructure properties.
The key figure aims to illustrate SBB’s rental risk.
Rental income, SEK
Charges for the period with deductions for rental losses.
Rental value, SEK
Contracted rents plus market value for vacant areas.
Market value of properties, SEK
Fair value of the properties at the end of the period.
Surplus ratio, %
Net operating income as a percentage of rental income for the period. The key figure shows how much of the rental income remains after direct property costs.
Yield, %
Net operating income (rolling 12 months) in relation to the sum of the properties fair value at the end of the period excl. the value for building rights.
The key figure is used to illustrate the level of return on the net operating income in relation to the value of the properties.