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.
  2020 Q2 2019 2018 2017 2016 2015
Return on equity, % -2.2 10.4 14.1 12.5 19.3 19.1
Return on capital employed, % -1.7 10.7 14.7 13.2 19.7 19.2
Equity ratio, % 62 62 64 63 61 61
Interest coverage ratio, multiple
9.3 11.4 10.5 9.3 8.6 9.1
Debt/equity ratio, multiple 0.3 0.2 0.2 0.2 0.2 0.3
Net loan-to-value ratio, properties, % 17.7 15.5 14.2 14.6 15.2 16.7
Cash flow from current operations, SEK m 493 1,367 1,003 999 1,029 968
Cash flow for the period, SEK m -1,252 635 676 -719 671 -31
Net debt, SEK m 8,186 7,404 6,279 5,805 5,536 5,307
Average number of employees in the group - 132 127 118 113 105

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.

  2019 2018 2017 2016 2015
Equity ratio, SEK m          
Equity 31,383 29,000 25,402 23,047 19,567
Total assets 50,342 45,375 40,295 37,709 32,323
Equity ratio, % 62 64 63 61 61
           
Interest coverage ratio, SEK m          
Profit/loss after financial items excl. changes in value 1,237 1,173 1,124 1,078 1,010
Interest expense 119 123 136 141 124
Total 1,356 1,296 1,260 1,220 1,135
Interest expense 119 123 136 141 124
Interest coverage ratio, multiple 11.4 10.5 9.3 8.6 9.1
           
Net loan-to-value ratio, properties, SEK m          
Interest-bearing liabilities 9,110 7,350 6,200 6,650 5,750
Interest-bearing assets -1,706 -1,071 -395 -1 114 -443
Total 7,404 6,279 5,805 5,536 5,307
Carrying amount, properties 47,681 44,089 39,730 36,524 31,740
Net loan-to-value ratio, properties, % 15.5 14.2 14.6 15.2 16.7
           
Net debt, SEK m          
Non-current interest-bearing liabilities 6,700  5,700 3,700 4,000 4,650
Non-current leasing liabilities 719        
Current interest-bearing liabilities 1,650  1,650 2,500 2,650 1,100
Current leasing liabilities 41        
Cash and bank holdings -1,706  -1,071 -395 -1 114 -443
Net debt
7,404  6,279 5,805 5,536 5,307