Definitions

John Mattson Fastighetsföretagen AB applies the European Securities and Markets Authority’s (ESMA) Guidelines on Alternative Performance Measures (APMs). Under these Guidelines, an APM is a financial measure of historic or projected earnings trends, financial position, financial performance or cash flows that are neither defined nor specified in applicable rules for financial reporting, such as IFRS and the Swedish Annual Accounts Act.

Key property-related metrics

Property expenses, SEK m

This item includes direct property expenses, such as costs for operations, maintenance and property taxes, as well as indirect property expenses in the form of lettings and property administration. Central administration is excluded from property expenses.

Surplus ratio, %

Net operating income as a percentage of recognised rental revenue. Used to illustrate the proportion of John Mattson’s revenue that remains after deducting property expenses.

Economic occupancy rate, %

Contracted rents in relation to rental value at the end of the period. Used to illustrate how efficiently John Mattson utilises the investment properties.

Average economic occupancy rate, %

Rental revenue for the period in relation to the period’s gross rents. Used to illustrate the efficiency of John Mattson’s investment properties.

Rental value, SEK m

This item pertains to contracted annual rents and assessed market rents for vacant space for properties owned at the end of the period. Used to illustrate John Mattson’s revenue potential.

Contract value, SEK m

This item pertains to contracted annual rents for properties owned at the end of the period. Used to illustrate John Mattson’s revenue potential given the vacancy level at the end of the period.

Property value, SEK/sq m

The fair value of properties excluding ongoing projects divided by lettable area. This item pertains to properties owned at the end of the period. Used to illustrate John Mattson’s average property value per square metre.

Key financial metrics

LTV ratio, %

Interest-bearing liabilities less cash and cash equivalents as a percentage of the carrying amount for the properties at the end of the period. Used to illustrate John Mattson’s financial risk.

Average interest rate, %

Weighted average contracted interest rate for all credits in the debt portfolio, including interest-rate derivatives. Used to illustrate John Mattson’s financial risk.

Interest coverage ratio, multiple

Earnings before value changes with the addition of interest expenses in relation to interest expenses. The interest coverage ratio is used to illustrate the sensitivity of John Mattson’s earnings to changes in interest rates.

Fixed-interest tenor, years

The remaining average tenor until it is time to reset interest rates for all credits in the debt portfolio. Used to illustrate John Mattson’s financial risk.

Loan-to-maturity, years

The remaining average tenor for all credits in the debt portfolio. Used to illustrate John Mattson’s financial risk.

Key share-related metrics

Income from property management, SEK/share

Earnings excluding value changes and tax divided by the average number of shares outstanding during the period. Used to provide per share data regarding John Mattson’s income from property management.

EPRA NAV, SEK/share

Recognised equity, adding back interest-rate derivatives and deferred tax, and divided by the number of shares outstanding on the balance-sheet date. Used to illustrate John Mattson’s long-term net asset value per share in a manner compatible with other listed companies.

EPRA NNNAV, SEK/share

Recognised equity, less estimated actual deferred tax, and divided by the number of shares outstanding on the balance-sheet date. Used to illustrate John Mattson’s actual net asset value per share in a manner compatible with other listed companies.

Equity, SEK/share

Recognised equity divided by the number of shares outstanding on the balance-sheet date. Used to illustrate John Mattson’s equity per share.

Property value, SEK/share

Recognised carrying amount for properties divided by the number of shares outstanding on the balance-sheet date. This item pertains to properties owned at the end of the period.

Maria Sidén
CFO
+46 703 37 66 36

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