Financial objectives and results

history

Financial objectives

Outcome

Historical performance

ROE (Average)

Financial objective

The long-term average return on equity shall amount to at least 12%.

Utfall

  • 0 %

    The return on equity (calculated as 12 month average) amounted to 0% at the end of the period.

Historical performance

NAV Growth

Financial objective

Growth in long-term net asset value shall amount to at least 15%.

Utfall

  • 4 %

    The return on equity (calculated as 12 month average) amounted to 4% at the end of the period.

Historical performance

Interest coverage ratio

Financial objective

Long-term ICR shall amount to at least 2.0 times.

Utfall

  • 2.0 x

    The interest coverage ratio amounted to 2 times.

Historical performance

Equity ratio

Financial objective

The long-term equity ratio shall be 35% (and never be below 20%).

Utfall

  • 35 %

    The equity ratio amounted to 35% at the end of the period.

    * The stated equity ratio is calculated excluding the lease liability resulting from the application of IFRS 16. If this liability item were to be included in the calculation, the equity ratio would be negatively impacted by approximately 0.7%.

Historical performance

Four good reasons to invest in Stendörren

Stable cash flow

Stendörren’s portfolio comprises high-yield logistics, warehouse and light industrial properties with long-term leases. The tenant base is diversified and consists of well-established small to medium-sized companies and large multinational businesses from various industries.

Strong growth

Stendörren’s properties are strategically located in growth areas (in terms of population and economy) in Greater Stockholm, the Mälardalen region and other Nordic growth regions. Rent levels are rising as demand for logistics and light industrial premises in urban areas increases, while supply is declining through urbanization, leading to the conversion of properties for other uses. E-commerce growth is boosting demand for logistics and warehouse properties, particularly in urban locations, in response to consumer demand for short delivery times. Further growth is achieved through acquisitions and operational improvements.

Value growth in project

Stendörren’s project portfolio contains opportunities for new developments of fi rst-rate premises in logistics and light industrial properties. Moreover, the conversion of properties for alternative uses, primarily residential purposes, offers further potential.

Stable financial position

Stendörren has a stable financial position with a carefully considered mix of equity and bank loans from several of the leading Nordic banks and capital market financing as a complement (senior unsecured bonds and hybrid bonds). The company’s financial policy means that the risks (lending and refinancing risks) are well balanced.