Income statement
| Amounts in SEK million | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Property income | 4,859 | 4,097 | 3,639 | 3,293 | 3,046 | 2,618 |
| Property costs | -1,228 | -1,065 | -896 | -867 | -770 | -668 |
| Net operating income | 3,631 | 3,032 | 2,742 | 2,425 | 2,276 | 1,950 |
| Central administrative expenses | -196 | -183 | -156 | -158 | -135 | -146 |
| Profit from shares in joint ventures | -14 | 82 | 177 | 1 | -2 | 11 |
| Operating profit | 3,421 | 2,931 | 2,764 | 2,268 | 2,139 | 1,815 |
| Financial items | -1,154 | -613 | -486 | -500 | -419 | -372 |
| Result after net interest | 2,267 | 2,317 | 2,278 | 1,768 | 1,720 | 1,443 |
| Profit from property management | 2,345 | 2,309 | 2,145 | 1,810 | 1,760 | 1,443 |
| Changes in value, properties | -5,287 | 589 | 7,587 | 2,441 | 2,037 | 2,060 |
| Changes in value, derivatives | -225 | 251 | 209 | -71 | -25 | 91 |
| Current tax | -23 | -190 | -107 | -115 | -78 | -36 |
| Deferred tax | 547 | -403 | -1,779 | -688 | -543 | -466 |
| Profit for the year | -2,721 | 2,563 | 8,189 | 3,333 | 3,111 | 3,092 |
| Other comprehensive income | 4 | 187 | 58 | -88 | 87 | 22 |
| Total comprehensive income | -2,717 | 2,750 | 8,247 | 3,245 | 3,198 | 3,114 |
Balance sheet
| Amounts in SEK million | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Investment properties | 82,624 | 84,879 | 75,737 | 62,240 | 55,027 |
| Right-of-use assets | 988 | 932 | 759 | 605 | 582 |
| Shares in joint venture | 1,636 | 1,655 | 1,271 | 698 | 635 |
| Derivatives | – | 247 | 161 | – | – |
| Other assets | 2,391 | 1,209 | 2,164 | 1,456 | 1,348 |
| Cash and cash equivalents | 1,593 | 526 | 687 | 891 | 988 |
| Total assets | 89,231 | 89,447 | 79,508 | 65,193 | 58,580 |
| Equity | 28,156 | 30,028 | 28,350 | 20,082 | 16,714 |
| Deferred tax liability | 5,954 | 6,557 | 6,082 | 4,270 | 3,600 |
| Derivatives | 187 | – | – | 231 | 211 |
| Interest-bearing liabilities | 50,823 | 49,567 | 42,498 | 38,652 | 35,542 |
| Lease liabilities | 988 | 932 | 759 | 605 | 582 |
| Non-interest-bearing liabilities | 3,123 | 2,363 | 1,819 | 1,353 | 1,296 |
| Total equity and liabilities | 89,231 | 89,447 | 79,508 | 65,193 | 57,945 |
Key figures
| Financial key ratios | 2023 | 2022 | 2021 | 2020 | 2019 |
| Loan-to-value ratio, % | 58.4 | 56.7 | 54.3 | 60 | 62.1 |
| Interest-coverage ratio, times | 3.0 | 4.8 | 5.7 | 4.5 | 5.1 |
| Proportion of secured debt, % | 1.2 | 0.0 | 0.0 | 0.0 | 0.0 |
| Equity ratio, % | 31.6 | 33.6 | 35.7 | 30.8 | 28.8 |
| Average interest rate, % | 2.3 | 1.8 | 1.1 | 1.2 | 1.3 |
| Total return, % | -1.9 | 4.5 | 15.8 | 8.5 | 8.7 |
| Net asset value, SEK million | 34,149 | 36,586 | 34,466 | 24,608 | 20,525 |
| Property-related key ratios | 2023 | 2022 | 2021 | 2020 | 2019 |
| Market value properties, SEK million | 82,624 | 84,879 | 75,737 | 62,240 | 55,027 |
| Yield, % | 4.7 | 4.1 | 4 | 4.5 | 4.7 |
| Surplus ratio, % | 74.7 | 74 | 75.4 | 73.7 | 74.8 |
| Economic occupancy rate, % | 97.8 | 97.9 | 97.9 | 97.9 | 98.1 |
| Property value, SEK/sqm | 33,619 | 35,371 | 35,759 | 31,042 | 29,208 |
| Number of properties | 488 | 480 | 441 | 392 | 370 |
| Lettable area, tsqm | 2,458 | 2,400 | 2,118 | 2,005 | 1,884 |