Financiële ratio's

Hoe berekent a.s.r. de financiële ratio's?  

Return on Equity

De Return on Equity berekent a.s.r. als volgt:

Return on Equity = Netto Winst/Total available capital

 

Het total available capital wordt berekent door:

Total equity attribute to shareholders + Real estate revaluation

 

Voor 2013 en 2104 ziet de berekening van het Return on Equity er als volgt uit:

      FY 2012 FY 2013 FY 2014  
  a  Net profit                       281,0         381,0  
  b  Costs for hybrid capital                        -33,0         -81,0  
 a + b =  c  Net profit excl. costs for hybrid capital                       248,0         300,0           10,0
             
  d Total equity attributable to shareholders         2.161                    2.518         2.346  
  e Real estate revaluation            874                        784            806  
 d + e =  f Total available capital         3.035                    3.302         3.152         100,0
             
 c / average f =  g  Return on equity    7,8% 9,3% 20,0%
             
             
  d Total equity attributable to shareholders         2.161                    2.518         2.346  
  e Real estate revaluation            874                        784            806  
  f  IAS19 impact                           107            634  
 d + e + f =  g Total available capital         3.035                    3.409         3.786  
             
 c / average g =  g  Return on equity    7,7% 8,3%  

Financial leverage

  a.s.r. Dec. 2013 Dec. 2014
  Floating hybrid               85                           -  
  6.25% hybrid               12                           -  
  10% hybrid            386                        193
  7.253% hybrid               38                          17
  5% hybrid                          500
  % hybrid               -                             -  
  Hybrid            521                        709
  Senior loan                -                          250
  IFRS effect for expenses               -6                           -8
a Total debt            515                        951
       
b Total equity attributable to shareholders         2.518                    2.346
c Real estate revaluation            784                        806
d Total available capital         3.302                    3.152
       
e debt leverage (%) 13,5% 23,2%
       
       
f Total equity attributable to shareholders         2.518                    2.346
g Real estate revaluation            784                        806
h Reversal of IAS19 impact            107                        634
i Total available capital         3.409                    3.786
       
j debt leverage (%) 13,1% 20,1%

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