Targeting sustainable cash flows

The overall objective is to create sound and sustainable cash flow growth while constantly evaluating opportunities in the market.

Financial target

Annual growth in operating cash flow per share of 10 percent over time

Average growth per year for 2019-2023:


Finance policy

Financing and interest-rate risk are managed by applying a number of restrictions and frameworks in the company’s finance policy which aims to limit the company’s financial risk:

  • The Net loan-to-value ratio should not exceed 60 percent.
  • Unsecured debt should not exceed 15 percent.
  • Net debt/EBITDA should not exceed a multiple of 12.0.
  • Long-term, the interest-coverage ratio should not fall below a multiple of 2.0.

Net debt/EBITDA

Not to exceed a multiple of 12.0.

Net-loan-to-value ratio

Not to exceed 60 percent.

Interest-coverage ratio

Long term at least a multiple of 2.0.

Sustainability targets


Sustainability certification
By 2025, properties corresponding to 50 percent of the property value will have sustainability certification and 100 percent by 2030.

Streamlined consumption
By 2025, energy consumption per sqm will be reduced by 10 percent compared with 2020.


Carbon emissions
Nyfosa will act to minimize the operation’s carbon emissions.