Hemfosa is today publishing its 2015 Annual Report in which the company’s strategy is clarified and an adjusted financial objective is provided for the interest coverage ratio.
Hemfosa’s mission is to own, develop and manage community service properties on a long-term basis and to create value through active participation in a changing property market in order to generate long-term, high and stable profitability. In connection with preparing the 2015 Annual Report, the Board of Directors has reformulated the company’s strategy and its financial objectives.
Strategy
In the reformulated strategy, it is stated that Hemfosa will increase the share of community service properties from 59 percent at year-end to ultimately representing at least 75 percent of the Group’s total property value. The methods to achieve this will include high activity in the Nordic transaction market and developing long-term relationships with government authorities, county councils and municipalities, as well as with private operators of community service properties.
Financial objectives
The new feature of the financial objectives is that the interest coverage ratio is to ultimately represent at least a multiple of two, compared with the previous objective of a multiple of 1.5 and the year-end outcome of a multiple of 3.5. The other objectives remain unchanged: to deliver the highest return among listed Swedish property companies over a five-year period and to achieve a long-term equity ratio of at least 30 percent.
The Annual Report for 2015, Swedish version, is now available on Hemfosa’s website www.hemfosa.se. An English version will be published shortly.
For further information, please contact:
Jens Engwall, CEO, tel: +46 706 90 65 50, e-mail: [email protected]
Karin Osslind, CFO, tel: +46 70 794 93 37, [email protected]