EPRA NTA
Comparison of EPRA NRV and EPRA NDV
EPRA net reinstatement value (NRV) describes a property company that holds properties but generally does not sell properties. Assets and liabilities that, under normal circumstances, do not lead to a long-term increase or reduction in value, such as fair value adjustments on financial instruments, are not taken into account. This indicator is intended to express the value that would be necessary for the company’s reinstatement.
Shareholders are interested in knowing the full amount of liabilities and the resulting enterprise value when assets are sold and liabilities are not held to maturity. EPRA NDV therefore includes financial instruments and other liabilities at fair value after deducting all taxes incurred.