Targets


Overarching target

 

Eastnine’s overarching target is to create a sustainable, attractive total return on investment for its shareholders.

 

Growth target

Eastnine's long-term ambition is to grow the property portfolio in order to increase profitability.

Financial targets and limits

Financial targets

  • Return on equity should be at least 10 per cent over time.

  • Profit from property management per share should increase. 

  • Dividends are to correspond to at least 50 per cent of profit from property management, after deductions for current tax, over time.
     


 

Financial limits

  • Eastnine is aiming for a Loan-to-value ratio1 (LTV) of around 50 per cent over a business cycle. The LTV may not exceed 60 per cent. 

  • The interest coverage ratio shall be at least 2.0x. 

 

1 Previously referred to as Net loan-to-value ratio for properties. 

Overarching sustainability targets

Eastnine wants to be a leader in sustainability in our regions, by striving for the following environmental targets:

  • 100 per cent of the property business shall be EU-taxonomy aligned.

  • Climate-neutral property operations by 2030 and reduced emissions from new construction and tenant improvements.

  • 100 per cent sustainability-certified property portfolio

  • Five stars in GRESB, top 20 per cent

The overarching goals are supported by area-specific targets and key performance indicators that are monitored as part of the Company’s sustainability strategy.

Area specific targets and key performance indicators

 

Environmental

  • 100 per cent of the propeties’ energy consumption should be sourced from renewable energy by 2030.

  • The energy consumption per sq.m. is to be reduced by 25 per cent from 2019 up until and including 2025.

  • Water consumption per sq.m. is to fall by 2 per cent per year.

  • The proportion of recycled waste is to increase, and the proportion of waste sent to landfill is to decrease.

Operational

  • The proportion of green financing should increase over time.

  • Green leases should increase over time.

Social

  • The results from annual customer surveys should, for a comparable property portfolio, improve over time.

  • In the Great Place to Work employee survey, the Trust Index is to be at least 90 per cent.

  • Sick leaves should be below 3 per cent, using initiatives to promote good health.

  • Eastnine strives for equality and diversity among employees. The goal is for the representation of women and men on the board, management and at the country manager level to be equal.

  • Eastnine has zero tolerance towards corruption. Training in anti corruption shall be conducted annually.

  • All strategic suppliers must be reviewed for sustainability and new construction projects must be examined on site.

 

Please refer to the Annual Report for the 2023 goals and outcomes. 

To Eastnine's 2023 Annual Report >>

Vision

Eastnine will create and provide the best venues where ideas can flow, people meet and successfull business operations develop.

Mission

Eastnine will be the leading, long-term provider of modern and sustainable office premises in prime locations in the Baltics and Poland.