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. The goals were set by Genova’s Board in January 2021.
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:
Over time, the equity/assets ratio shall be at least 35%.
Over time, the loan-to-value ratio shall not exceed 65%.
Over time, the interest-coverage ratio shall be higher than 2.0.
Rental income from residential and community service properties is to account for at least 70% of Genova’s total rental income by the end of 2023.
Ongoing construction of own-produced residential units should amount to at least 1,500 units per year from 2022.
The value of the property portfolio will amount to SEK 20 billion at the end of 2025.