| 1 january - 30 june | 1 january - 31 december | |||
|---|---|---|---|---|
| SEK thousands (unless otherwise indicated) | 2021 | 2020 | 2020 | 2019 |
| IFRS-defined financial measures | ||||
| Net revenue | 78 819 | 53 563 | 118 524 | 100 794 |
| Net profit | -33 086 | -86 859 | 496 146 | 515 990 |
| Earnings per share, SEK* | -0,6 | -1,6 | 9,2 | 9,6 |
| Alternative measures | ||||
| Pre-tax profit | -34 278 | -103 896 | 650 624 | 651 023 |
| Yield, equity (%) | E/T | E/T | 15 | 19 |
| Net asset value (NAV) per share, SEK* | 78 | 66 | 81 | 67 |
| Loan-to-value ratio properties (%) | 27 | 28 | 27 | 27 |
| Gross profit property management | 14 312 | 23 293 | 31 829 | 71 720 |
| Debt-equity ratio (%) | 59 | 57 | 59 | 60 |
| Property expenses | 24 680 | 14 738 | 30 677 | 29 074 |
| Rental income | 38 992 | 38 031 | 62 506 | 100 794 |
| Surplus ratio (%) | 52 | 61 | 60 | 71 |
* Adjusted for the split approved by the General Meeting on 19 May 2021
Definitions
Definitions of alternative non-IFRS defined measures.
| Financial measures | Definition | Purpose |
|---|---|---|
| Return on equity (%) | Earnings for the period in per cent of average equity. | The measure is presented to show the return generated on equity and to monitor the profitability of the business and capital efficiency. |
| Current net asset value (NAV) per share, SEK* | Assets, adjusted for the fair value of the entire property portfolio, minus liabilities and with the repayment of deferred tax divided by the average number of shares. | The measure shows shareholders’ percentage of the company’s equity. |
| Loan-to-value ratio, properties (%) | Interest-bearing liabilities excluding liabilities for financial leasing as a percentage of the property portfolio’s fair value at the end of the period. | The ratio shows how high/low the property portfolio is mortgaged. |
| Gross profit property management | Rental income minus costs for property management and depreciation on operating properties. | The measure shows the management operations’ earning capacity after management costs. |
| Pre-tax profit | Profit for the period divided by the average number of shares outstanding for the period. | This measure shows shareholder’s percentage of the company’s profit. |
| Debt-equity ratio (%) | Booked equity at end of the period in per cent of the balance sheet total. This is used in part to highlight the company’s financial stability. | The ratio shows the proportion of the balance sheet total that consists of equity and gives the investor an idea and basis for assessing the company’s capital structure. |
| Property costs | This item includes both direct property costs and costs for operation, maintenance, site leasehold fees, property taxes and depreciation on operating properties. | The measure shows the company’s costs related to its investment properties and operating properties. |
| Rent income | Charged rent fees plus supplements, such as compensation for heating, electricity and property tax. | This measure shows the company’s rent income. |
| Rent value | Contracted annual rent including rent surcharges and estimated market rent for vacant areas in existing condition. This is used to highlight the company’s income potential. | The measure shows the company’s rent value. |
| Surplus ratio (%) | Rental income minus property costs divided by rental income. | This ratio serves as a complementary measure of the Group’s earnings before consideration of financial income and expenses, general administrative expenses and unrealised changes in value. |