Trophi presents certain financial measures in interim reports and financial statements that are not defined according to IFRS. The company believes that these measures provide valuable additional information for investors and the company’s management, since they enable evaluation of the company’s results and financial position. It should be noted however, that not all companies calculate financial measures in the same way, therefore these measures are not always comparable across companies.
- Property Earnings
Rental income including operational surcharges and other earnings with a deduction for vacancies, rent rebates and rent losses.
- Property Expenses
Operating and maintenance costs, property insurance, property tax and ground rent.
- Net Operating Result
Rental income minus property expenses.
- Lettable Area
The areas of the property that the tenant may charge rent for at the end of the period.
- Economic occupancy rate
Rental income in relation to rental value.
- Surplus ratio
Net operating result in relation to total rental income.
- Direct return
Net operating result in relation to weighted market value.
- Management results
Profit/loss before changes in value, excluding interest on loan stock.
- Loan-to-value ratio
Outstanding interest-bearing liabilities, excluding share holder loans as a percentage of the real estate’s reported market value.
- Interest rate coverage ratio
Net operating result deducted by administrative expenses and interest rate costs for utility rights in relation to net finance, excluding interest on loan stock and other financial expenses, calculated on a rolling 12-month basis.
- Capital tied-up period
The average of the remaining term for external interest-bearing liabilities, having regard for letters of credit.
- Interest lock-in period
Remaining lock-in period, having regard for interest ceilings in relation to outstanding external interest-bearing liabilities.
- Proportion of secured liability
Interest-bearing, secured external loan liability in relation to the real estate’s reported market value.
- Equity ratio
Equity in relation to balance sheet total.