Citycon focuses on having a strong capital base

Citycon focuses on having a strong capital base with an appropriate gearing level, low cost of debt and flexible access to debt financing supported by investment-grade credit ratings.

Sufficient and attractively priced financing gives us the capacity and flexibility to deliver on our strategy and to buy, sell or develop when opportunities arise. Long-term joint venture partnerships extend our capital base, spread the risk and leverage the expertise.

Key financial figures

Key financing figures 30 Jun 202430 Jun 202331 Dec 2023
Nominal value of debtMEUR2032.51 776.51840.4
Available liquidityMEUR458.5
 
442.8434.3
Weighted average interest rate (incl. hedges) %3.3
 
2.82.6
Average loan maturityyears3.22.92.7
Loan to Value (LTV)%47.6
 
43.046.3
Interest cover ratio (financial covenant > 1.8)x3.23.73.7
Net debt to total assets
(financial covenant < 0.60)
x0.450.400.44
Solvency ratio (financial covenant < 0.65 )x0.460.420.45
Secured solvency ratio
(financial covenant < 0.25) 
x0.120.060.08
Average interest-rate fixing periodyears2.52.52.6
Fixed interest rate ratio%81.388.373.8
Citycon lainajakauma Q2 2024

Debt fixed

81%

 

Share of secured loan

26%

 

Available liquidity (MEUR)

459