Annual rent
Gross rent, including supplements, at the end of the year, calculated on an annual basis. Vacant premises are reported at the market rent.
Average equity
The average of equity in the beginning and end for the year.
Average interest on interest-bearing liabilities
Interest expense in relation to the average interest-bearing liabilities.
Bibliotekstan
The area between Norrmalmstorg, Birger Jarlsgatan, Stureplan and Norrlandsgatan and which contains stores with high-class brands as well as restaurants and cafes.
Capital employed
Total assets less non-interest-bearing liabilities and deferred tax liabilities.
Cash flow for the year per share
Cash flow for the year in relation to the average number of outstanding shares during the year.
Cash flow from current operations per share
Cash flow from current operations in relation to the average number of outstanding shares during the year.
CBD
Central Business District. The most central part of a city for office and retailing properties.
Central administration
The costs for the Senior Executives and Group staff functions as well as the cost of maintaining the Company’s stock exchange listing and other Company costs.
Comparable holdings
Properties disposed of during the year are excluded. Properties acquired during the year are included and the previous year is adjusted for the equivalent period.
Debt/equity ratio
Net liabilities in relation to equity at the year-end.
Dividend
The total dividend is calculated on the total number of outstanding shares as of the date on which the annual accounts are published. The amount could change depending on any buy-back of Company shares during the period up to the record date.
Dividend proportion
Dividend in relation to net profit from current operations.
EPRA
European Public Real Estate Association. Not-for-profit association for listed property companies in Europe.
EPRA Earnings - Earnings from property management after nominal tax
Operating result before changes in value with a deduction for financial income and expenses and computed current tax, excluding a loss carryforward of unutilised tax losses. The tax deducted has been calculated with account taken of, among other things, tax-deductible depreciation and investments.
EPRA Company specific Adjusted Earnings - Company specific Adjusted Earnings from property management after nominal tax
Operating result before items affecting comparability and changes in value with a deduction for financial income and expenses and computed current tax, excluding a loss carryforward of unutilised tax losses. The tax deducted has been calculated with account taken of, among other things, tax-deductible depreciation and investments.
EPRA EPS
EPRA Earnings in relation to the average number of outstanding shares during the year.
EPRA Company specific Adjusted EPS
EPRA Company specific Adjusted Earnings in relation to the average number of outstanding shares during the period.
EPRA LTV - Loan to Value
Non-current and current interest bearing liabilities according to the balance sheet, net working capital if negative and resolved dividends less cash and cash equivalents in relation to the properties' carrying amounts including intangible fixed assets and net working capital if positive.
EPRA NDV
Net Disposal Value. Shareholders’ equity according to the balance sheet.
EPRA NRV
Net Reinstatement Value. Shareholders’ equity according to the balance sheet after reversal of interest rate derivatives and deferred tax according to the balance sheet, excluding deferred tax on assets and/or liabilities other than investment properties and right-of-use assets attributable to ground rents.
EPRA NTA
Net Tangible Assets. Shareholders’ equity ac-cording to the balance sheet after reversal of derivative in-struments and deduction for intangible assets, adjusted for actual deferred tax instead of nominal deferred tax.
EPRA Vacancy rate
Estimated Market Rental Value (ERV) of vacant space divided by the ERV of the whole portfolio. Current development projects are excluded.
Equity per share
Equity in relation to the number of outstanding shares at the year-end.
Equity ratio
Equity at the year-end in relation to total assets.
Fair value
The estimated market value of the properties.
Fair value, properties
The amount for which the properties could be assigned on condition that
the transaction takes place between parties that are independent of each other and which have an interest in the transaction being implemented. In
accounting terms, this is known as fair value.
Floor space vacancy level
Vacant floor space in square meters in relation to the total rentable floor space.
Fredstan
The area around Fredsgatan, between Brunnsparken and Trädgårdsföreningen, with the vison of offering a unique range of stores, cultural attractions and restaurants.
Free Float
Shares available for trading, excluding shares held by a shareholder with a controlling interest.
Gross rent
Defined as the contracted rent, excluding supplements for utility charges, and including assessed market rent for vacant premises.
Interest coverage ratio
Profit after financial items, excluding items affecting comparability and
changes in value, plus interest expense, in relation to interest expense.
MTN programme Medium Term Note
Medium Term Note is a bond programme with a term of 1-15 years.
Net liabilities
Interest-bearing liabilities, including the decided dividend, minus current investments and cash and bank holdings.
Net loan-to-value ratio, properties
Net liability in relation to the carrying value of the properties.
Net operating income
Net turnover from property management minus costs for maintenance,
operation, administration, ground rents, property tax, and depreciation of equipment and right-of-use assets.
Net profit from current operations
Profit before tax, excluding changes in value and items affecting comparability, charged with corporate tax for the year as a standard.
New leases
Leases signed during the year with a new tenant other than the tenant that leased the property previously, or for premises that were previously vacant.
Outstanding shares
The total number of shares reduced by the shares bought back by the Company.
P/E ratio
The share price at the year-end in relation to profit per share for the year.
Profit per share
Profit for the year after tax in relation to the average number of outstanding shares during the year.
Property tax supplement
Reimbursement of property tax from tenants.
Renegotiated leases
New or extended leases with existing tenants whose earlier leases have come to an end.
Rentable floor space
Total floor space available for renting.
Rental losses
Loss of revenue as a result of vacant premises.
Rental vacancy level
Vacant floor space at an estimated market rent in relation to the total annual rent.
Result from property management
Operating profit before items affecting comparability and changes in value minus financial income and expense.
Return on capital employed
Profit before tax plus interest expense in relation to the average capital employed.
Return on equity
Profit for the year after tax in relation to the average equity.
Return on equity, adjusted.
Net profit/loss excluding tax-adjusted items affecting comparability and changes in value in relation to average equity. In the interim accounts, the return has been recalculated on a full-year basis with no adjustments for seasonal variations that normally arise in operations.
Surplus ratio
The gross profit in relation to net revenue.
Tax
The Group’s total tax comprises current tax and deferred tax.
Turnover-based rent supplement
Rent in addition to the guaranteed minimum rent, based on the turnover of a store or restaurant.
Yield
Dividend per share in relation to the share price at the year-end.
Yield, properties
Net operating profit in relation to the fair value of the properties.
