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 Sep 202430 Sep 202331 Dec 2023
Nominal value of debtMEUR2 019.71 806.41840.4
Available liquidityMEUR508.3
 
442.3434.3
Weighted average interest rate (incl. hedges) %3.3
 
2.52.6
Average loan maturityyears2.92.62.7
Loan to Value (LTV)%47.5
 
43.946.3
Interest cover ratio (financial covenant > 1.8)x3.03.73.7
Net debt to total assets
(financial covenant < 0.60)
x0.440.420.44
Solvency ratio (financial covenant < 0.65 )x0.450.430.45
Secured solvency ratio
(financial covenant < 0.25) 
x0.120.060.08
Average interest-rate fixing periodyears2.32.32.6
Fixed interest rate ratio%71.988.673.8
Citycon Breakdown of loans Q3 2024

Debt fixed

72%

 

Share of secured loan

26%

 

Available liquidity (MEUR)

508