Targets

Genova’s overall objective is to create value for the company’s shareholders. Value creation is measured over a business cycle as growth in both long-term net asset value and income from property management per ordinary share. Genova shall generate long-term and sustainable value growth for its shareholders by working actively to reduce the company’s climate footprint and at least comply with the applicable sustainability rules that are connected to the company’s operations.

Financial targets

Long-term net asset value

Achieve an average annual growth of at least 20% in long-term net asset value per ordinary share (including any value distributions to ordinary shareholders) over a business cycle.

---

Income from property management

Achieve an average annual growth of at least 20% in income from property management per ordinary share over a business cycle.

The goal is that the growth in net asset value and income from property management shall be created while maintaining a continued stable and strong financial position and with balanced financial risk-taking, meaning that:

Equity/assets ratio

Over time, the equity/assets ratio shall be at least 35%.

---

Loan-to-value ratio

The loan-to-value, calculated as a share of total assets adjusted for cash and cash equivalents, should be less than 55% over time.

---

Interest-coverage ratio

Over time, the interest-coverage ratio shall be higher than 2.0.