Hemsö presents some financial measures in interim and annual reports that are not defined under IFRS. The company believes that these measures provide valuable supplemental information to investors and the company’s management since they enable evaluation of the company’s earnings and financial position. Since financial measures are calculated differently by different companies, they are not always comparable with the measures used by other companies.
Share of secured debt
Interest-bearing secured debt in relation to the market value of properties.
Interest-bearing net debt in relation to the market value of properties and
investments in joint ventures.
Net operating income over the past 12 months, adjusted for the holding
period and currency of the properties during the period, in relation to market value of properties at period-end, excluding development properties.
Cash and cash equivalents and current investments plus undrawn committed credit facilities.
Profit from property management
Profit after net interest income after reversal of changes in value and tax from participations in joint ventures.
Average interest rate
The weighted interest rate on interest-bearing liabilities with consideration for interest-rate derivatives and committed credit facilities on the closing date.
Investments in joint ventures
The share of equity in joint ventures, and loans to joint ventures.
The weighed average of the remaining term of interest-bearing liabilities, including the maturities of undrawn commited credit facilities.
Loan maturities within 12 months.
European bond programme.
Interest-bearing liabilities less cash and cash equivalents and currernt iinvestments.
Operating cash flow
Profit from property management after reversal of depreciation and profit from property management in joint ventures, less tax paid with additions for dividens from joint ventures.
Net operating income less central administrative expenses plus dividends from joint ventures relative to net interest income.
Net operating income plus share of profit from participations in joint ventures, and administrative expenses.
Available liquidity in relation to short-term borrowings.
The sum of net operating income and value changes in relation to average market value of properties , adjusted for value changes over a rolling 12-month period.
Net of market value of properties, joint ventures, cash and foreign currency liabilities less currency hedging as a percentage of equity.
Net operating income
Rental income less operating and maintenance costs and property tax, ground rent not included in net operating income.
Economic occupancy rate
Contracted annual rental income in relation to rental value.
Rental value less vacancies, rent reductions and rental losses.
The weighted average remaining rental duration excluding garage/parking, storage and housing units let to private individuals.
Contracted annual rental income plus vacancy rent.
The properties owned throughout the entire period and entire comparative period and not classified as development properties during these periods.
Contracted annual rent
Contracted annual rental income less reductions and rental losses.
Total of purchasing, including stamp duty and other direct transaction costs and investments in development projects, less the selling price of properties sold and the selling price of properties sold via companies and direct transaction costs.
Property under construction and development rights. A development property also includes a property where a well-defined section of the area has been vacated in order to convert and improve the property.
A property that is predominantly utilised for taxpayer-funded operations and is purpose-built for public services. Assisted living are also included in the public properties concept.
The definition of major cities in Sweden, Finland and Germany according to Statistics Sweden and the OECD: In Sweden and Finland, municipalities with a population of 100,000 or more, and in Germany, with a population of 200,000 or more.
The areas of the properties for which tenants can be charged rent at period-end.
Rent based on vacancy rate
Rental value of vacancy rent as a percentage of total rental value.
Estimated market rent for vacant premises in "as-is" condition.
Net operating income in relation to the sum of property income and other income.