Multi-year overview
Income statement
| Amounts in SEK million | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Property income | 3,639 | 3,293 | 3,046 | 2,618 | 2,375 |
| Property costs | -896 | -867 | -770 | -668 | -587 |
| Net operating income | 2,742 | 2,425 | 2,276 | 1,950 | 1,788 |
| Central administrative expenses | -156 | -158 | -135 | -146 | -130 |
| Profit from participations in associated companies | 177 | 1 | -2 | 11 | 1 |
| Operating profit | 2,764 | 2,268 | 2,139 | 1,815 | 1,659 |
| Financial items | -486 | -500 | -419 | 11 | -345 |
| Interest on shareholder loans | 2,278 | 1,768 | 1,720 | 1,443 | 1,314 |
| Profit from property management | 2,145 | 1,810 | 1,760 | 1,443 | 1,314 |
| Changes in value, properties | 7,587 | 2,441 | 2,037 | 2,060 | 1,682 |
| Changes in value, derivatives | 209 | -72 | -25 | 91 | 135 |
| Current tax | -107 | -115 | -78 | -36 | -63 |
| Deferred tax | -1,779 | -688 | -543 | -466 | -477 |
| Profit for the year | 8,189 | 3,333 | 3,111 | 3,092 | 2,591 |
| Other comprehensive income | 58 | -88 | 87 | 22 | 31 |
| Total comprehensive income | 8,247 | 3,245 | 3,198 | 3,114 | 2,622 |
Balance sheet
| Amounts in SEK million | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Investment properties | 75,737 | 62,240 | 55,027 | 46,236 | 38,883 |
| Right-of-use assets | 759 | 605 | 582 | - | - |
| Other assets | 2,164 | 1,456 | 1,348 | 720 | 660 |
| Derivatives | 161 | - | - | - | - |
| Cash and cash equivalents | 687 | 891 | 988 | 450 | 1,134 |
| Total assets | 79,508 | 65,193 | 57,945 | 47,406 | 40,677 |
| Equity | 28,350 | 20,082 | 16,714 | 13,199 | 10,795 |
| Interest-bearing liabilities | 42,498 | 38,652 | 35,542 | 29,728 | 25,575 |
| Lease liabilities | 759 | 605 | 582 | - | - |
| Derivatives | - | 231 | 211 | 281 | 544 |
| Deferred tax liability | 6,082 | 4,270 | 3,600 | 3,067 | 2,591 |
| Other liabilities | 1,819 | 1,353 | 1,296 | 1,131 | 1,172 |
| Total equity and liabilities | 79,508 | 65,193 | 57,945 | 47,406 | 40,677 |
Key ratios
| Financial key ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Loan-to-value ratio, % | 54.3 | 60 | 62.1 | 63.1 | 62.6 |
| Interest-coverage ratio, times | 5.7 | 4.5 | 5.1 | 4.9 | 4.8 |
| Proportion of secured debt, % | - | - | - | - | 3.1 |
| Equity/assets ratio, % | 35.7 | 30.8 | 28.8 | 27.8 | 26.5 |
| Average interest rate, % | 1.1 | 1.2 | 1.3 | 1.3 | 1.5 |
| Return on profit from property management, % | 8 | 8.9 | 10.6 | 10.8 | 12.1 |
| Total return, % | 15.8 | 8.5 | 8.7 | 9.7 | 9.8 |
| Net asset value, SEK million | 34,466 | 24,608 | 20,525 | 16,547 | 13,930 |
| Property-related key ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
| Market value of investment properties | 75,737 | 62,240 | 55,027 | 46,236 | 38,883 |
| Yield, % | 4 | 4.5 | 4.7 | 4.9 | 5.2 |
| Surplus ratio, % | 75.4 | 73.7 | 74.8 | 74.5 | 75.3 |
| Economic occupancy rate, % | 97.9 | 97.9 | 98.1 | 98.3 | 98.3 |
| Property value, SEK/sqm | 35,759 | 31,042 | 29,208 | 26,695 | 23,763 |
| Number of properties | 441 | 392 | 370 | 365 | 346 |
| Lettable area, tsqm | 2,118 | 2,005 | 1,884 | 1,732 | 1,636 |