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 2019 2018 2017 2016 2015 2014
Return on equity, % 6.5 14.1 12.5 19.3 19.1 12.5
Return on capital employed, % 7.1 14.7 13.2 19.7 19.2 12.2
Equity ratio, % 62 64 63 61 61 59
Interest coverage ratio, multiple
11.3 10.5 9.3 8.6 9.1 8.5
Debt/equity ratio, multiple 0.3 0.2 0.2 0.2 0.3 0.3
Net loan-to-value ratio, properties, % 17.0 14.2 14.6 15.2 16.7 18.6
Cash flow from current operations, SEK m 498 1,003 999 1,029 968 881
Cash flow for the period, SEK m -283 676 -719 671 -31 -30
Net debt, SEK m 7 760 6,279 5,805 5,536 5,307 5,176
Average number of employees in the group - 127 118 113 105 100

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.

  2017 2016 2015 2014 2013
Equity ratio, SEK m          
Equity 25 402 23 047 19 567 16 695 15 261
Total assets 40 295 37 709 32 323 28 415 26 476
Equity ratio, % 63 61 61 59 58
           
Interest coverage ratio, SEK m          
Profit/loss after financial items excl. changes in value 1 124 1 078 1 010 998 989
Interest expense 136 141 124 134 136
Total 1 260 1 220 1 135 1 131 1 125
Interest expense 136 141 124 134 136
Interest coverage ratio, multiple 9.3 8.6 9.1 8.5 8.3
           
Net loan-to-value ratio, properties, SEK m          
Interest-bearing liabilities 6 200 6 650 5 750 5 650 5 750
Interest-bearing assets -395 -1 114 -443 -474 -505
Total 5 805 5 536 5 307 5 176 5 245
Carrying amount, properties 39 730 36 524 31 740 27 817 25 869
Net loan-to-value ratio, properties, % 14.6 15.2 16.7 18.6 20,3
           
Net debt, SEK m          
Non-current interest-bearing liabilities 3 700 4 000 4 650 4 650 4 550
Current interest-bearing liabilities 2 500 2 650 1 100 1 000 1 200
Cash and bank holdings -395 -1 114 -443 -474 -505
Net debt
5 805 5 536 5 307 5 176 5 245