Sensitivity analysis
Pandox is exposed to a number of risks and its valuation is dependent on a number of factors. Below we highlight some important factors and their effect on Pandox.
Sensitivity to key valuation parameters
(As of 31 December, 2022)
| Investment properties effect on fair value | Change % | Effect on value 2022, MSEK | Effect on value 2021, MSEK |
|---|---|---|---|
| Yield | +/-0.5pp | -0,83557047 | -0,831756245 |
| Change in currency exchange rates | +/- 1% | +/- 421 | +/- 374 |
| Net operating income 1) | +/- 1% | +/- 532 | +/- 395 |
| Investment properties effect on revenues | Change % | Change in revenues MSEK | |
| RevPAR (assuming 50/50 split between occupancy and rate) 1) | +/- 1% | +/- 20 | +/- 5 (26) |
| Financial sensitivity effect on pre-tax earnings | Change % | Profit before value changes 2022, MSEK | Profit before value changes 2022, MSEK |
| Current fixed interest, change in interest rate, with derivatives | +/- 1% | -1 | -0,035087719 |
| Current fixed interest, change in interest rate, without derivatives | +/- 1% | -1 | -6,935483871 |
| Remeasurement of interest-rate derivatives following shift in yield-curves |
1) ) The value relates to the level at the end of 2022 based on 31 revenue-based leases without a contractual minimum level and 78 (out of 96) revenue-based leases with a contractual minimum level that generated variable rent above the minimum level. In leases with a contractual minimum rent level, revenue-based rent is generated only once cumulative rent exceeds the minimum level.