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. The goals were set by Genova’s Board in January 2021.

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.

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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%.

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Loan-to-value ratio

Over time, the loan-to-value ratio shall not exceed 65%.

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Interest-coverage ratio

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

Operational targets

Rental income

Rental income from residential and community service properties shall account for at least 55% of Genova’s total rental income by the end of 2023.

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Ongoing construction

Ongoing construction of own-produced residential units shall amount to at least 1,000 residential units per year by the end of 2024.

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Property portfolio

The value of the property portfolio will amount to SEK 20 billion at the end of 2025.