| 2007 | 2006 | 2005 | |||
| Owned shopping centres | 30 | 28 | 24 | ||
| Net lettable area | 670 500 | 657 588 | 622 595 | ||
| Average remaining lease period | 3,0 | 3,0 | 3,2 | ||
| Gross rental income | 1214,2 | 1 119,4 | 935,4 | ||
| Total operating turnover | 2 217,5 | 2 010,3 | 1 635,6 | ||
| Operating profit before fair value adjustments | 976,3 | 825,3 | 733,3 | ||
| Operating profit after fair value adjustments | 2 064,5 | 1 762,1 | 1 569,7 | ||
| Profit before tax | 1 556,2 | 1 460,2 | 1 314,5 | ||
| Net profit | 1 169,9 | 1084,4 | 972,9 | ||
| Cashflow from operations | 348,9 | 484,2 | 296,7 | ||
| Market value | IA | 9 340,9 | 5 716,1 | ||
| Book equity | 8 175,7 | 6 107,9 | 4 914,3 | ||
| Total assets | 23 862,9 | 19 825,5 | 15 813,1 | ||
| Book equity ratio | 34% | 31% | 31% | ||
| Total debt | 15 687,2 | 13 717,5 | 10 898,7 | ||
| Net interest bearing debt | 11 328,3 | 10 859,1 | 8 220,2 | ||
| Number of shares | 30 402 116 | 27 883 223 | 27 883 223 | ||
| Average number of outstanding shares | 26 890 000 | 26 784 569 | 26 784 569 | ||
| Book equity per share | 268,9 | 219,1 | 176,2 | ||
| Profit per share | 43,4 | 40,0 | 36,3 | ||
| Cashflow per share | 13,0 | 18,1 | 11,1 | ||
| Proposed dividend per share | - | 4,00 | 4,00 | ||
| Growth in turnover | 4,5% | 6,2% | 3,2% | ||
| Growth in gross rental income | 8,5 % | 22,9% | 10,1% | ||
| Vacancy | 3,6% | 3,2% | 3,2% | ||
| Operating costs in percent of GRI | 17,3% | 18,9% | 19,9% |
Key value drivers
The below summarises the main components of the enterprise value of Steen & Strøm, together with they key drivers of growth and improved profitability.
| Asset | Key value drivers | Examples of growth and profability potential |
| Shopping centre portfolio | Turnover growth | Increase turnover |
| Rental growth | Rental growth through renegotiations | |
| Reduction of vacant areas | ||
| Development projects | Rental income | Desig og shopping centre concept |
| Investmenst costs | Letting | |
| Completion period | Building costs | |
| Asset and property management | Management fees | Renegotiation of management fees |
| Costs | Cost focus | |
| Other assets and rights | Properties in the portfolio with 'strategic' value | Examples |
Investment property per country
