Financing

The overall objective of Hemsö’s financial operations is to ensure a long-term, stable capital structure, and to achieve the best possible financial net within the given risk frameworks.

Finance policy

Responsibility for Hemsö’s financial transactions and risks are managed centrally by the Group’s Finance Department. Work is conducted according to the Group’s finance policy, which is adopted by the Board of Directors. 

Capital structure

Hemsö is currently partly financed with capital from owners in the form of shareholders’ equity and through external financing. At 31 March 2019, shareholders’ equity amounted to SEK 14,668 million. 

At 31 March 2019 debt portfolio amounted to SEK 34,418 million and comprises secured bank loans, commercial paper and unsecured bonds.

Capital structure, SEK million
  Q1 2019 Q1 2018
Interest-bearing liabilities 34,418 26,380
Cash and cash equivalents 3,585 1,132
Net debt 30,833

25,248

     
Market value of investment properties  49,559  40,152
Loan-to-value ratio  62.2%  62.9%
Share of secured debt  0.0%  0.0%