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.
  Q2 2023 2022 2021 2020 2019
Return on equity, % -3.0 2.3 9.9 -4.9 10.4
Return on capital employed, % -2.2 2.6 9.8 -4.3 10.7
Equity ratio, % 59 61 61 60 62
Interest coverage ratio, multiple
5.6 7.7 9.3 9.1 11.4
Debt/equity ratio, multiple 0.3 0.3 0.3 0.3 0.2
Net loan-to-value ratio, properties, % 20.6 18.7 17.9 18.8 15.5
Cash flow from current operations, SEK m 558 1,024 994 1,072 1,367
Cash flow for the period, SEK m 90 -729 398 -923 635
Net debt, SEK m 9,869 9,259 8,734 8,586 7,404
Average number of employees in the group 1)   441 416 140 135
1) of which 149 employees in the property operations and 292 employees in NK Retail AB in 2022.

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.

  2022 2021 2020 2019 2018
Equity ratio, SEK m          
Equity 31,262 31,066 28,617 31,383 29,000
Total assets 51,235 51,099 47,397 50,342 45,375
Equity ratio, %  61 61 60 62 64
           
Interest coverage ratio, SEK m          
Profit or loss before tax 904 3,726 -1,833 3,968 4,820
Reversal of items affecting comparability and changes in value 209 -2,579 2,894 -2,731 -3,647
Interest expense 166 139 132 119 123
Total  1,279 1,286 1,193 1,356 1,296
Interest expense 166 139 132 119 123
Interest coverage ratio, multiple  7.7 9.3 9.1 11.4 10.5
           
Net loan-to-value ratio, properties, SEK m          
Interest-bearing liabilities 9,000 9,200 8,650 8,350 7,350
Lease liabilities 712 716 720 760  
Interest-bearing assets -453 -1,182 -784 -1,706 -1,071
Total  9,259 8,734 8,586 7,404 6,279
Carrying amount, properties 49,547 48,790 45,637 47,681 44,089
Net loan-to-value ratio, properties, %  18.7 17.9 18.8 15.5 14.2
           
Net debt, SEK m          
Non-current interest-bearing liabilities 6,500 7,000 6,200 6,700 5,700
Non-current leasing liabilities 703 707 710 719  
Current interest-bearing liabilities 2,500 2,200 2,450 1,650 1,650
Current leasing liabilities 9 9 10 41  
Cash and bank holdings -453 -1,182 -784 -1,706 -1,071
Net debt
 9,259 8,734 8,586 7,404 6,279