Key ratios per year - Group

Below you will find Hufvudstaden's key ratios per year for the past five years as well as accumulated figures for the current year.
  Q3 2022 2021 2020 2019 2018
Return on equity, % 4.0 9.9 -4.9 10.4 14.1
Return on capital employed, % 4.3 9.8 -4.3 10.7 14.7
Equity ratio, % 61 61 60 62 64
Interest coverage ratio, multiple
8.0 9.3 9.1 11.4 10.5
Debt/equity ratio, multiple 0.3 0.3 0.3 0.2 0.2
Net loan-to-value ratio, properties, % 18.3 17.9 18.8 15.5 14.2
Cash flow from current operations, SEK m 820 994 1,072 1,367 1,003
Cash flow for the period, SEK m -627 398 -923 635 676
Net debt, SEK m 9,155 8,734 8,586 7,404 6,279
Average number of employees in the group 1)   416 140 135 127
1) of which 147 employees in the property operations and 269 employees in NK Retail AB in 2021.

Alternative Performance Measures

Hufvudstaden applies the European Securities and Markets Authority’s (ESMA) Guidelines on Alternative Performance Measures.
A number of the key performance measures above are alternative performance measures, i.e. a set of financial metrics not defined in IFRS or the Annual Accounts Act, and which are used to present the Company’s development and improve comparability between periods. Definitions of performance measures are given in the glossary. Below is the derivation of alternative performance measures.

  2021 2020 2019 2018 2017
Equity ratio, SEK m          
Equity 31,066 28,617 31,383 29,000 25,402
Total assets 51,099 47,397 50,342 45,375 40,295
Equity ratio, % 61 60 62 64 63
           
Interest coverage ratio, SEK m          
Profit or loss before tax 3,726 -1,833 3,968 4,820 3,895
Reversal of items affecting comparability and changes in value -2,579 2,894 -2,731 -3,647 -2,771
Interest expense 139 132 119 123 136
Total 1,286 1,193 1,356 1,296 1,260
Interest expense 139 132 119 123 136
Interest coverage ratio, multiple 9.3 9.1 11.4 10.5 9.3
           
Net loan-to-value ratio, properties, SEK m          
Interest-bearing liabilities 9,200 8,650 8,350 7,350 6,200
Lease liabilities 716 720 760    
Interest-bearing assets -1,182 -784 -1,706 -1,071 -395
Total 8,734 8,586 7,404 6,279 5,805
Carrying amount, properties 48,790 45,637 47,681 44,089 39,730
Net loan-to-value ratio, properties, % 17.9 18.8 15.5 14.2 14.6
           
Net debt, SEK m          
Non-current interest-bearing liabilities 7,000 6,200 6,700 5,700 3,700
Non-current leasing liabilities 707 710 719    
Current interest-bearing liabilities 2,200 2,450 1,650 1,650 2,500
Current leasing liabilities 9 10 41    
Cash and bank holdings -1,182 -784 -1,706 -1,071 -395
Net debt
8,734 8,586 7,404 6,279 5,805