2017 HALF YEAR 25 JULY 2017
|
|
- Phoebe Chandler
- 5 years ago
- Views:
Transcription
1 2017 HALF YEAR RESULTS 25 JULY 2017
2 Strong financial results and robust balance sheet Driving performance through operational excellence and disciplined capital allocation High quality pipeline of growth opportunities Optimistic outlook B+S, Frankfurt 2
3 Strong financial results and robust balance sheet Driving performance through operational excellence and disciplined capital allocation High quality pipeline of growth opportunities Optimistic outlook B+S, Frankfurt 3
4 Strong financial results and robust balance sheet Strong earnings growth Benefits of APP acquisition Asset management gains capturing rent reversion Development completions Robust balance sheet 4.9% portfolio value growth 1.1 billion of financing, including rights issue and inaugural US private placement +23% +3.2% +3.9% +5.4% 29% Adjusted pre-tax profit Adjusted EPS, 9.7p Like-for-like net rental income growth EPRA NAV per share 504p Loan to Value ratio (FY 2016: 33%) 2017 interim dividend increased by 5% 5.25p Dividend per share (2016: 5.0p) 4
5 3.9% growth in like-for-like net rental income Proportionally consolidated net rental income (excluding joint venture fees 1 ), H , million 120.9m 10.6m 4.4m 8.6m (0.8)m (5.9)m 4.1m 130.7m JVs at share 32.3m (11.2)m JVs at share 27.3m APP acquisition Group 88.6m Mainly 2016 disposals and disposals to part-fund APP acquisition Group: +3.9% UK: +5.9% CE: 0.0% Vacancy stable at 5.5% Group 103.4m H net rental income Disposals Acquisitions Like-for-like net rental income Completed Space taken developments back for development Other (incl surrender premiums) Currency translation H net rental income 5
6 23% increase in Adjusted PBT Adjusted income statement H H Gross rental income Property operating expenses (23.9) (22.1) Net rental income Share of joint ventures adjusted profit Joint venture fee income Administration expenses (17.5) (15.5) Adjusted operating profit Net finance costs (33.3) (33.5) Adjusted profit before tax Tax on adjusted profit 0.7% 1.1% APP performance fee generated nonrecurring profit of 3.2m FY 2017 JV fee income expected to be c 24m On-going JV fee income c 16m pa H adjusted EPS based on average 934m shares FY adjusted EPS expected to be based on c966m shares (before impact of scrip dividend) Cost ratio of 22.9% (H1 2016: 23.2%) 20.4% excl share based payments (H1 2016: 21.5%) 1 Net property rental income less administrative expenses, net interest expenses and taxation 6
7 5.4% increase in EPRA NAV Components of EPRA net asset value change, 31 December 2016 to 30 June p 2p 10p (8)p 504p 478p (after applying bonus adjustment factor of to reported 500p) (11)p 31 December 2016 H Adjusted EPS 2016 Final Dividend Realised and unrealised gains Exchange rate and other Net impact of financing activity 30 June
8 1.1bn of new financing raised to strengthen balance sheet further Rights Issue 557m net proceeds 166m new shares bonus adjustment factor Private Placement Issue 650m of new debt 11yr average duration 1.9% average coupon To be drawn in August m cash consideration for APP 341m for future development capex 75% allocated to identified projects Repay 200m 2018 bonds early 5.5% coupon bonds repaid in June Repay 320m APP secured debt 2.5% average cost, repaid in July LTV ratio and average cost of debt (incl share of JVs, 2012-H1 2017) LTV ratio 60% 40% 20% 0% H1 17 LTV ratio 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Ave cost of debt Average cost of debt 8
9 Robust financial position Balance sheet and gearing metrics (look-through basis), 31 December June 2017 Including joint ventures at share 30 June December 2016 Weighted average cost of debt 1 (%) Average maturity of debt (years) m of cash and available facilities Attractive marginal cost of Group bank borrowings of c1.4% (UK) and 1.1% (CE) 3 Fixed rate debt as proportion of net debt (%) Net borrowings () 2,086 2,091 LTV ratio (%) Based on gross debt, excluding commitment fees and amortised costs 2 Pro forma for repayment of APP secured debt and drawing of US private placement debt 3 Marginal borrowing costs after commitment fee H1 2017: 215m capex on development and infrastructure FY 2017: 350m+ estimated development capex (and further c 50m of infrastructure capex) 9
10 Strong financial results and robust balance sheet Strong earnings growth Robust balance sheet 2017 interim dividend increased by 5% Geodis, Paris 10
11 Strong financial results and robust balance sheet Driving performance through operational excellence and disciplined capital allocation High quality pipeline of growth opportunities Optimistic outlook B+S, Frankfurt 11
12 Favourable market conditions Economic growth outlook is supportive (GDP average annual growth rates ; source: OECD) UK logistics supply continues to fall short of demand (UK logistics take up and average availability; source: JLL) 4.0% 3.0% 2.0% 1.0% 0.0% 3.4% 3.4% 1.6% 2.0% 1.0% 1.4% 2.4% 1.3% 0.6% 0.9% Poland Germany France UK Italy Take-up / availability, m sq m Take-up for H and H H No. of years supply Historic ( ) Forecast ( ) Average availability Take-up No. of years' supply Online sales continue to gain market share (Online purchases as share of total retail sales; source: Centre for Retail Research) Supply of speculative development remains low (Speculative UK big box warehouse completions; source: JLL) UK Germany France Europe ave Poland Italy 0.0% 5.0% 10.0% 15.0% 20.0% Completions, m sq m In dvpt 12
13 Driving performance: operational excellence and disciplined capital allocation Leasing and Asset Management 28m contracted headline rent, +28% from H Developments 79,000 sq m new space completed: 5m of potential rent, 91% secured Completed development 15% uplift on UK rent reviews and renewals Low vacancy rate of 5.5%, 92% customer retention 18m new pre-lets signed; 3m potential from new speculative development starts 920,000 sq m under construction Acquired Amazon, Munich Disposals Acquisitions 207m of asset disposals Part consideration for APP 150m Non-strategic German light industrial 47m 550m of asset acquisitions 50% interest in APP portfolio Ave topped-up NIY of 4.2% (5.2% excl Cargo Area) Sold APP portfolio Former Northfields industrial estate sold to residential developer Average yield of 4.4% (3.1% incl land) 34m of land acquisitions Primarily land for immediate development in Germany, Italy and Spain Nelson Trade Park 13
14 Portfolio value change driven by improving yields and asset management 1 400m 350m 300m +4.6% UK +5.5% Slough Trading Estate +7.1% Park Royal +8.8% Heathrow +3.0% UK big box logistics % Continental Europe +2.3% SELP +1.1% SEGRO wholly-owned +4.1% 250m 200m +5.7% 150m 100m +5.2% +3.7% 50m 0m Total Greater London Thames Valley & National Logistics 2.3% +0.1% Northern Europe Southern Europe Central Europe ERV growth 0.8% 0.9% 0.9% 0.6% 0.6% 0.0% UK: 0.9% Continental Europe: 0.4% 1 Percentage change relates to completed properties, including JVs at share. 2 Includes big box warehouses part of the Greater London portfolio 14
15 Strong financial results and robust balance sheet Driving performance through operational excellence and disciplined capital allocation High quality pipeline of growth opportunities Optimistic outlook B+S, Frankfurt 15
16 High quality pipeline of growth opportunities Income growth potential through active asset management of existing portfolio Significant growth from current development pipeline Optionality over future development through land bank and options Azymut, Strykow 16
17 Growth from the existing portfolio Reversion capture 2.7m potential reversion from general UK rent reviews in H ( 13m in total) 6.2m (55%) of Heathrow Cargo Area 2019 peppercorn rent reversions secured or under negotiation ( 11m in total) Rapid leasing of speculative space (Letting status of development completions in , %) 100% 80% Further vacancy reduction c 5.5m (25%) of vacancy is in five UK buildings 2 big box warehouses in Midlands 3 urban warehouses in London 60% 40% 20% Index-linked uplifts c40% of portfolio (c 140m of headline rent) contains indexation provisions Almost all Continental Europe leases c10% of UK leases (most with cap and collar) 0% H Speculative Pre-let Let at 30 June
18 Current development pipeline: 46m of rent, 40 projects, 1m sq m of space Yoox pre-let, Milan Martorelles, Barcelona FedEx pre-let, Paris Amazon pre-let, Rome SEGRO Park Rainham, East London Premier Inn, Slough Trading Estate 18
19 Significant development opportunities within SEGRO s control 1 Current development pipeline 2 920,400 sq m of space Current book value 431m; 231m cost to complete 46m potential gross rent; 31m (68%) secured through pre-lets Projected 7.7% yield on total cost Near term development projects 243,000 sq m of space 146m potential capex 14m potential gross rent 63% rent related to potential pre-lets Projected 7.6% yield on total cost 3 Future development pipeline m sq m of space c 1.1bn potential capex 113m potential gross rent Projected c8% yield on total cost Land under option 750,000 sq m of space c 50m potential gross rent Expected blended yield of c7% on total cost, including land Capital deployment ahead of expectations at the time of 2016 equity placing and 2017 rights issue 1 Excludes near-term projects and potential developments on land held under option. 19
20 Substantial opportunity to grow rental income Annualised gross cash passing rent 1, million (as at 30 June 2017) 126m potential from current activity 163m from land bank and land options Passing rent at 30 Jun 17 Rent in rent-free Reversion and vacant space Current development pipeline (68% let) Near-term development opportunities 2,3 (63% pre-lets) Future pipeline 2 Land held under option Total Potential 1 Including JVs at share 2 Near-term development opportunities include pre-let agreements subject to final conditions such as planning permission, and speculative developments subject to final approval, which are expected to commence within the next 12 months 3 Total rent potential of 127m from near-term development opportunities and Future pipeline 4 Estimated. Excludes rent from development projects identified for sale on completion and from projects identified as Near-term opportunities 20
21 Outlook Supply-demand dynamics remain supportive Investor demand for warehouses remains strong Future earnings prospects underpinned by asset management and development Optimistic outlook B+S, Frankfurt 21
22 2017 HALF YEAR RESULTS Q&A
23 APPENDIX I PORTFOLIO AND FINANCIAL DATA
24 EPRA performance measures 30 June June December 2016 p per share p per share 2 p per share 2 EPRA 1 Earnings (9.8) (19.7) EPRA NAV 5, , (475) 4, (500) EPRA NNNAV 4, , (435) 3, (459) EPRA net initial yield 4.7% 4.9% 4.8% EPRA topped-up net initial yield 5.0% 5.4% 5.3% EPRA vacancy rate 5.5% 4.8% 5.7% EPRA 1 cost ratio (including vacant property costs) EPRA 1 cost ratio (excluding vacant property costs) 22.9% 23.2% 23.0% 20.7% 20.4% 20.8% 1 For the periods presented, EPRA EPS is the same as Adjusted EPS. 2 Per share metrics in parentheses are as reported before application of the rights issue bonus adjustment factor. 24
25 Adjusted income statement (JVs proportionally consolidated) Group H H JVs Gross rental income Property operating expenses (23.9) (10.0) (33.9) (22.1) (6.0) (28.1) Net rental income JV management fee income Administration expenses (17.5) (0.4) (17.9) (15.5) (0.1) (15.6) Adjusted operating profit Net finance costs (33.3) (3.4) (36.7) (33.5) (6.2) (39.7) Adjusted profit before tax Tax and non-controlling interests (0.7) (1.4) (2.1) (0.8) (0.5) (1.3) Adjusted profit after tax Total Group JVs Total 25
26 Balance sheet (JVs proportionally consolidated) Group 30 June December 2016 JVs Investment properties 6, , , , , ,319.4 Trading properties Total properties 6, , , , , ,345.4 Investment in joint ventures (761.3) 1,066.2 (1,066.2) Other net liabilities (88.2) (48.5) (136.7) (25.5) (46.8) (72.3) Net debt (1,741.6) (344.6) (2,086.2) (1,598.4) (492.6) (2,091.0) Net asset value 1 5, , , ,182.1 EPRA adjustments (0.6) (20.0) EPRA NAV 5, ,162.1 Total Group JVs Total 1 After minority interests 26
27 Pro forma H accounting net rental income Group JVs Total H net rental income Half year impact of: Disposals since 1 January 2017 (3.9) (4.0) (7.9) APP fees within JV net rental income Acquisitions since 1 January Developments completed and let during H One-off items (0.4) (0.4) Pro forma H net rental income Annualised gross rental income (on a cash flow basis) after the expiry of rent-free periods 27
28 EPRA Cost Ratio Total cost ratio, (proportionally consolidated) Incl. joint ventures at share H H Gross rental income (less reimbursed costs) Property operating expenses Administration expenses JV operating expenses JV management fees (10.0) (8.8) Total costs Of which share based payments Total costs excluding share based payments Total cost ratio 22.9% 23.2% Total cost ratio excluding share based payments 20.4% 21.5% 1 Total costs include vacant property costs of 3.6m for H (H1 2016: 4.2m) 2 Includes JV property management fee income of 9.0m and management fees of 1.0m (H1 2016: 8.2m and 0.6m respectively) 28
29 EPRA Vacancy Rate Vacancy rate reconciliation, 31 December 2016 to 30 June % 0.1% 0.6% 5.5% Speculative development 1 1.6% (0.1)% (0.3)% (0.3)% (0.2)% Speculative development 1 1.3% Existing standing assets 4.1% Existing standing assets 4.2% 31 December 2016 Long-term lettings Short-term take-backs New developments Acquisitions Disposals Other 30 June Speculative developments completed in preceding two years 29
30 EPRA capital expenditure analysis Group H H JVs Total Group JVs Total Approximately 50% of completed properties capex is directly linked to generating rents Acquisitions 1, , Development c 5m of maintenance capex within Completed properties Completed properties Other TOTAL 1, , Includes wholly-owned capitalised interest of 2.5 million (H1 2016: 2.4 million) and share of JV capitalised interest of 0.3 million (H1 2016: 0.5 million). 2 Completed properties are those not deemed under development during the year. Incorporates minor refurbishment (not deemed to be directly ERV enhancing), and infrastructure expenditure and major refurbishment and fit-out of existing buildings (which are considered ERV enhancing) 3 Tenant incentives, letting fees and rental guarantees 30
31 Look-through loan-to-value ratio 30 June 2017 Weighted average 31 December 2016 cost of gross debt, % 1 Weighted average cost of gross debt, % 1 Group gross borrowings 1, , Group cash & equivalents (63) (32) Group net borrowings 1,742 1,598 Share of joint venture net borrowings SEGRO net borrowings including joint ventures at share Total properties (including SEGRO share of joint ventures) 2, , ,277 6,345 Look-through loan to value ratio 29% 33% 1 Figures exclude commitment fees and amortised costs 31
32 Debt maturity profile at 30 June 2017 (pro forma), Debt maturity by type and year, millions (as at 30 June 2017, pro forma for repayment of APP secured debt and drawing of US private placement debt due in August 2017) JV undrawn at share SEGRO undrawn JV debt at share SEGRO PP notes SEGRO bonds
33 Euro currency exposure and hedging Balance sheet, 30 June Assets 68% hedged 2,500 2,000 1,500 1,000 Other euro liabilities Euro currency swaps Euro debt 1.14: 1 as at 30 June 2017 assets 68% hedged by liabilities 741m ( 650m) of residual exposure 13% of Group NAV Illustrative NAV sensitivity vs 1.14: + 5% ( 1.20) = - c. 31m (-c.3.1p per share) - 5% ( 1.08) = + c. 34m (+c.3.4p per share) Euro gross assets Loan to Value (on look-through basis) at 1.14: 1 is 29%, sensitivity vs 1.14: +5% ( 1.20) LTV -0.6%-points Income Statement, 6 months to 30 June Income 37% hedged Euro income Euro costs -5% ( 1.08) LTV +0.6%-points Average rate for 6 months to 30 June : 1 income 37% hedged by expenditure (including interest) Net income for the period 37m ( 32m) 35% of Group Illustrative annualised net income sensitivity versus 1.16: + 5% ( 1.22) = c 1.5m (c0.2p per share) - 5% ( 1.10) = +c1.7m (c0.2p per share) 1 Pro forma for repayment of APP secured debt (in July 2017) and drawing of US private placement (in August 2017). 33
34 SEGRO Continental Europe assets under management Assets under management, m 1,400 1,200 1, ,207 1, Germany France Poland Other European 3.9bn AUM at 30 June 2017 ( 3.4bn) SELP joint venture focuses on big box logistics assets Other European countries comprise: The Netherlands, Belgium and Austria supported by our platform in Germany Italy and Spain supported by our platform in France Czech Republic and Hungary supported by our platform in Poland SELP SEGRO wholly-owned 34
35 Current development pipeline Current development pipeline (as at 30 June 2017) Current development projects, asset type by ERV (30 June 2017) 920,400 sq m 46m ERV Urban warehouses 21% 31m rent secured (68%) Gross rent from development completions, (as at 30 June 2017, including joint ventures at share) Amazon, Rome Logistics 60% 231m cost to complete % Yield on cost H H H H Pre-let Speculative 35
36 Future development pipeline Development land bank (30 June 2017) Geographic split of land bank, by potential ERV 1 (30 June 2017) Near-term projects 243,000 sq m c 14m of rent (63% related to pre-lets) 146m of potential capex Poland 9% Italy/Spain 14% Germany 18% UK 41% Future pipeline (2.3m sq m 2 ) 1.1bn estimated development costs 2 113m of potential annual rent 2 8% estimated yield on TDC 1 10% estimated yield on new money 1 And land held under option 750,000 sq m 50m of potential annual rent All figures include joint ventures at share. 1 Future development pipeline including near-term projects but excluding land under option. 2 Excludes near-term projects and potential developments on land held under option. Estimated blended yield of 7% on total cost, incl land 36
37 Land bank provides optionality and opportunity for growth Land bank value, % 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 39m of land bank subject to conditional sale for alternative (residential) use 0 0.0% H Additional opportunity from land held under option Alternative use Future development pipeline Long-term and residual land bank As % of portfolio (right hand scale) 37
38 APPENDIX II MARKET DATA
39 European industrial investment volumes European industrial investment volumes By country, m 30,000 25,000 20,000 15,000 10,000 5,000 - European industrial investment volumes By quarter, m 30,000 25,000 20,000 15,000 10,000 5, H17 UK Germany France CEE Rest of Europe H17 Q1 Q2 Q3 Q4 Source: CBRE 39
40 Prime logistics yields vs 10 year bond yields Warsaw: 6.0% Paris: 5.0% Dusseldorf: 4.8% London: 4.5% H17 UK 10yr bond: 1.3% Germany 10yr bond: 0.5% Source: CBRE, Bloomberg (data correct at 30 June 2017) 40
41 Favourable demand-supply conditions: UK supply shortage UK Big Box supply-demand dynamics 1 Speculative UK Big Box completions 2 (m sq m) (m sq m) Take-up / availability, m sq m Take-up for H and H No. of years supply Completions, m sq m % 12% 10% 8% 6% 4% % Average availability H In dvpt 0% Take-up Available space as multiple of annual take-up Construction Vacancy 1 Source: JLL (logistics warehouses >100,000 sq ft, Grade A); take up reflects H and H Source: JLL 41
42 European industrial and logistics supply dynamics Logistics space under construction 1 (m sq m) France logistics supply-demand dynamics 2 (m sq m) Take-up / availability, m sq m Take-up for H and H No. of years supply UK Germany France Belgium Neth. Poland Italy Spain Average availability H17 Pre-let Speculative Take-up Available space as multiple of annual take-up 1 Source: 1Q 2017, JLL 2 Source: CBRE 42
43 European industrial and logistics take-up statistics Take-up of warehouse space >100,000 sq ft UK 1 (m sq m) New Second hand H17 Take-up of warehouse space >5,000 sq m France 2 (m sq m) H17 Take-up of warehouse space Poland 1 (m sq m) Q17 Net demand Lease renewals 1 Source: JLL 2 Source: CBRE 43
44 European industrial and logistics availability statistics Availability of Grade A warehouse space >100,000 sq ft UK 1 (m sq m) New / Early Marketed Second hand H Availability of warehouse space >5,000 sq m France 2 (m sq m) H Warehouse space under construction and vacancy rate Poland 1 (m sq m) Q17 Pre-let Speculative Vacancy (RHS) 15% 10% 5% 0% 1 Source: JLL 2 Source: CBRE 44
45 Heathrow Airport cargo and passenger volumes Heathrow Airport cargo volumes (million metric tonnes) Heathrow Airport passenger volumes (millions) Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 10yr ave Rolling annual 10yr ave Rolling annual Source: Heathrow Airport 45
46 Forward-looking statements This presentation may contain certain forward-looking statements with respect to SEGRO s expectations and plans, strategy, management s objectives, future performance, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this presentation should be construed as a profit forecast. Past share performance cannot be relied on as a guide to future performance. 46
INVESTOR PRESENTATION
INVESTOR PRESENTATION Table of Contents Introduction to SEGRO 3 Market drivers 10 High quality development pipeline 15 Balance sheet and financing 21 Operating performance 26 Portfolio overview 30 APP
More information2018 HALF YEAR 26 JULY 2018
2018 HALF YEAR RESULTS 26 JULY 2018 H1 2018 Another period of delivery Strong financial results and capital structure Disciplined capital allocation improving portfolio scale and quality, reducing risk
More informationBank and Bondholder presentation
Bank and Bondholder presentation 19 September 2013 0 Geopost, Enfield Agenda Welcome and strategic overview (David Sleath, CEO) Operational and financial performance (Justin Read, Group Finance Director)
More informationRESULTS FOR THE YEAR ENDED 31 DECEMBER SEGRO plc ( SEGRO / Company / Group ) today announces its results for the year ended 31 December 2017.
PRESS RELEASE 16 FEBRUARY 2018 RESULTS FOR THE YEAR ENDED 31 DECEMBER SEGRO plc ( SEGRO / Company / Group ) today announces its results for the year ended 31 December. SEGRO has delivered another strong
More informationRESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2018
PRESS RELEASE 26 JULY 2018 RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2018 SEGRO plc ( SEGRO / Company / Group ) today announces its results for the six months ended 30 June 2018. SEGRO reports strong operating,
More informationRESULTS FOR THE YEAR ENDED 31 DECEMBER SEGRO plc ( SEGRO / Company / Group ) announces its results for the year ended 31 December 2018.
PRESS RELEASE 15 FEBRUARY 2019 RESULTS FOR THE YEAR ENDED 31 DECEMBER SEGRO plc ( SEGRO / Company / Group ) announces its results for the year ended 31 December. SEGRO announces a strong set of operating,
More informationHansteen. Half Year Results to 30 June Castrop-Rauxel, Germany
Hansteen Half Year Results to 30 June 2016 Castrop-Rauxel, Germany Introduction Hansteen - Pan European Real Estate Investment Trust (REIT) Pan European REIT Five countries Regional teams in 15 offices
More informationPROPERTY EU EUROPEAN LOGISTICS INVESTMENT BRIEFING
PROPERTY EU EUROPEAN LOGISTICS INVESTMENT BRIEFING RICHARD HOLBERTON, SENIOR DIRECTOR, EMEA RESEARCH, CBRE FEBRUARY 19 TH 2015 AGENDA Economy Market Activity Forecasts Issues ECONOMY 2014 Some Alarms and
More informationInterim Results Half Year July 2018
Interim Results Half Year 2018 July 2018 NSI will be the leading specialist in the Dutch office market, with a strong and efficient platform that will drive returns through pro-active asset management,
More informationHansteen. Full Year Results to 31 December Tilburg, Netherlands
Hansteen Full Year Results to 31 December 2016 Tilburg, Netherlands Contents Introduction Hansteen 2016 results Sale announcement Sale of German and Dutch Portfolio 2016 Annual Results 2016 Property Performance
More informationQ HIGHLIGHTS MEUR MEUR % MEUR MEUR 48.4 MEUR 94.8 MEUR % 1.87% +2.2% +1.9 PP +3.5% +73.8% + >100% +19.9% +81.
Q1-2 2018 HIGHLIGHTS STRENGTHENED OPERATING PERFORMANCE Occupancy rate 94.7% Rental income MEUR 119.0 Rental income lfl MEUR 98.2 +1.9 PP +3.5% +2.2% KPIs SIGNIFICANTLY IMPROVED Results of AM MEUR 94.8
More informationInvestment Market Germany. PROVADA 5 th June 2013
Investment Market Germany PROVADA 5 th June 2013 In Europe, which country/region do you believe to be the most attractive for making investment purchases in 2013? 40 35 2012 2013 2012 (n=341) 2013 (n=361)
More informationSchroder European Real Estate Investment Trust
Schroder European Real Estate Investment Trust Interim results presentation Tony Smedley, Head of Continental European Real Estate Investment Andrew MacDonald, Head of Real Estate Finance 25 May 2017 Jeff
More informationInvestor presentation Q results
Investor presentation Q1 2011 results Recent highlights Successful issue of US$ 300m senior notes (US private placement) Sale non-strategic assets in UK of 15.1m, 7% above latest valuation Sale of a further
More informationSEGRO PLC ANNUAL REPORT & ACCOUNTS 2017
SEGRO PLC ANNUAL REPORT & ACCOUNTS SEGRO PLC ANNUAL REPORT & ACCOUNTS OVERVIEW IN THE RIGHT PLACE FOR THE FUTURE 01 AT A GLANCE 02 STRATEGIC REPORT BUSINESS REVIEW 04 CHIEF EXECUTIVE S STATEMENT 10 MARKET
More informationFinancial results presentation For six months ended 30 September 2018
Financial results presentation For six months ended 30 September 2018 Transition Plan to 31 March 2020 Targets Progress Sales and Purchases MLI to comprise 65% of total portfolio Manage timings of acquisitions
More information2009 Half-Year Results. 3 August 2009
2009 Half-Year Results 3 August 2009 John Nelson, Chairman 2 Agenda Introduction John Richards Financial Results Simon Melliss France Christophe Clamageran UK David Atkins Summary and Conclusion John Richards
More informationInvestor presentation 9M 2012 results
Investor presentation 9M 2012 results Key results: stabilising in Q3 Direct result p/s: 3.05 (-17.6% yoy) Q3: + 0.01 vs Q2 Revaluation portfolio: -4.75% Q3: -0.25% NAV p/s: 63.72 (-12.9% yoy) Q3: +0.4%
More informationAgenda. About IREIT Global. Key Highlights. Portfolio Summary. Economy & Real Estate Review. Looking Ahead. Appendix : Overview of Tikehau Capital
4Q 2017 and FY 2017 Results Presentation 14 February 2018 Agenda About IREIT Global Key Highlights Portfolio Summary Economy & Real Estate Review Looking Ahead Appendix : Overview of Tikehau Capital 2
More informationInvestor presentation H results
Investor presentation H1 2011 results Recent highlights New lettings in Belgian and US office portfolio. Occupancy rate improving Heads of terms agreed for hotel in Eilan-project: 20 yr fixed lease, operator
More informationHIGHLIGHTS PROPERTY FOR INDUSTRY 2017 INTERIM RESULTS BRIEFING
HIGHLIGHTS Internalisation of management on 30 June 2017 Increased guidance: distributable profit of between 7.70 and 7.90 cents per share, cash dividend of 7.45 cents per share Transition of the Penrose
More informationFULL YEAR RESULTS Year Ended 31 March
FULL YEAR RESULTS Year Ended 31 March 2018 www.londonmetric.com AGENDA Highlights & Strategy Financial performance Property & Investment Outlook Q&A 2 Key Highlights Our sector calls and income focus delivered
More informationLondonMetric Property Investor Presentation September
LondonMetric Property Investor Presentation September 2018 www.londonmetric.com Agenda Overview & Strategy Property Finance & Outlook Appendices 2 Overview Our sector calls and income focus are delivering
More informationGPE Trading Update strong operational performance and proposed return of 306 million to shareholders following profitable property sales
Press Release 25 January 2018 GPE Trading Update strong operational performance and proposed return of 306 million to shareholders following profitable property sales Great Portland Estates plc ( GPE )
More informationOutlook 2015: Europe & Germany
Part of the M&G Group Outlook 215: Europe & Germany Research presentation 27 th November 214 European Economic Fundamentals Update & Outlook 2 Economic recovery broadening GDP growth by country Q3 214
More informationSchroder European Real Estate Investment Trust
Schroder European Real Estate Investment Trust Investor update presentation Tony Smedley, Head of Continental European Real Estate Investment Andrew MacDonald, Head of Real Estate Finance July 2017 For
More informationSavills plc. Results for the year ended 31 December March 2018
Savills plc Results for the year ended 31 December 2017 15 March 2018 Disclaimer: Forward-looking statements These slides contain certain forward-looking statements including the Group s financial condition,
More informationAgenda. About IREIT Global. Key Highlights. Portfolio Summary. European Market Review. Looking Ahead. Appendix : Overview of Tikehau Capital
4Q2018 and FY2018 Results Presentation 20 February 2019 Agenda About IREIT Global Key Highlights Portfolio Summary European Market Review Looking Ahead Appendix : Overview of Tikehau Capital 2 About IREIT
More informationCONTENT. 01 Highlights. 02 Portfolio Performance. 03 Optimisation of Financing Structure. 04 FY 2017 Results. 05 Outlook FY
CONTENT 01 Highlights 02 Portfolio Performance 03 Optimisation of Financing Structure 04 FY 2017 Results 05 Outlook FY 2017 2 IMMOFINANZ RESTRUCTURING 5/2015 12/2017 Sale of logistics asset class - focus
More informationResults HALF-YEAR. Presentation of 30 August 2011
Results HALF-YEAR 2011 Presentation of 30 August 2011 1 Summary Affine Group Property portfolio Development of group companies Analysis of 1H11 accounts A robust financial model Affine on the stock market
More informationKempen conference. Amsterdam 30 May 2013
Kempen conference Amsterdam 30 May 2013 Company snapshot Description Dutch REIT: NSI is a real estate asset management company and qualifies as fiscal investment institution under Dutch law (REIT) Full
More informationINTERIM RESULTS to 30 June 2010 HANSTEEN HOLDINGS PLC
INTERIM RESULTS to 30 June 2010 HANSTEEN HOLDINGS PLC Introduction FTSE 250, internally managed, management / shareholders truly aligned Portfolio 1.9 million sqm; 1,800 tenants, five countries Growing
More informationEuropean Property Investment Markets. Sorbonne Immo 13 Juin 2007
European Property Investment Markets Sorbonne Immo 13 Juin 2007 European Direct Commercial Property in bn. Euro 250 Investment by sector Office Retail Logistics Others 200 150 100 50 0 2000 2001 2002 2003
More informationMAS REAL ESTATE INC. Results presentation. New Waverley, Edinburgh, UK. Year ended 30 June 2016
MAS REAL ESTATE INC Results presentation Year ended 30 June 2016 New Waverley, Edinburgh, UK 1 TABLE OF CONTENTS i. Company profile ii. iii. iv. Strategic update Recurring and potential EPS Highlights
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION February 2012 www.britishland.com INTRODUCTION British Land At a Glance One of Europe s leading REITS with 15.7bn property under management High quality 10.3bn UK retail and Central
More informationPALACE CAPITAL PLC (PCA.L)
COMPANY NOTE Acquisition 07 August 2017 CORPORATE Current price 370.0p Sector Code Listing SHARE PERFORMANCE (K) 300 250 200 150 100 50 Real Estate Investment 0 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16
More informationSchroder European Real Estate Investment Trust
Schroder European Real Estate Investment Trust Investor update presentation Tony Smedley, Head of Continental European Real Estate Investment Andrew MacDonald, Head of Real Estate Finance July 2017 Marketing
More information1Q2018 Results Presentation 10 May2018
1Q2018 Results Presentation 10 May2018 Agenda About IREIT Global Key Highlights Portfolio Summary European Market Review Looking Ahead Appendix : Overview of Tikehau Capital 2 About IREIT Global About
More informationSavills plc. Results for the six months ended 30 th June August 2017
Savills plc Results for the six months ended 30 th June 2017 10 August 2017 Disclaimer: Forward-looking statements These slides contain certain forward-looking statements including the Group s financial
More informationPreliminary Results Pro forma 12 months ended 30 September 2008
Preliminary Results Pro forma 12 months ended 30 September 2008 2 December 2008 Introduction Manny Fontenla-Novoa, CEO Financial review Jürgen Büser, CFO Strategy update, current trading & outlook Manny
More informationINTERIM RESULTS 2016 DERWENT LONDON PLC
INTERIM RESULTS 2016 DERWENT LONDON PLC CONTENTS Presenters: Contents: John Burns Simon Silver Damian Wisniewski Nigel George Introduction and overview 01 Results and financial review 11 Valuation and
More informationPreliminary Results Presentation 2010!
Preliminary Results Presentation 2010! Agenda! Introduction!Toby Courtauld!!Chief Executive! Financial Results!Timon Drakesmith, Finance Director! Market!Toby Courtauld, Chief Executive!! Valuation! Acquisitions
More informationYear end report. January-December st of January 2018 Mikael Ericson, President and CEO Erik Forsberg, CFO
Year end report January-December 2017 31 st of January 2018 Mikael Ericson, President and CEO Erik Forsberg, CFO Agenda 1. Highlights for the fourth quarter and FY 2017 2. Key messages from Capital Markets
More informationReal Estate Investors PLC ("REI" or the Company" or the Group") Half Year Results for the six months to 30 June 2014
Real Estate Investors PLC ("REI" or the Company" or the Group") Half Year Results for the six months to 30 June 2014 Real Estate Investors plc (AIM:RLE) the West Midlands based property group, today announces
More informationI N V E S TO R R O A D S H O W & F I N A N C I A L R E S U LT S
I N V E S TO R R O A D S H O W & F I N A N C I A L R E S U LT S FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 POSITIONED FOR GROWTH STENPROP'S OBJECTIVE To deliver sustainable and growing income by becoming
More informationHansteen Holdings PLC Half Year Results
23 August Hansteen Holdings PLC ( Hansteen or the Group or the Company ) HALF YEAR RESULTS Hansteen (LSE: HSTN), the investor in UK and continental European industrial property, announces its half year
More informationCredit Suisse Annual Real Estate Conference. Thursday, 6 April 2006
Credit Suisse Annual Real Estate Conference Thursday, 6 April 2006 Agenda British Land at a Glance UK REITS UK Market Fundamentals Strategy & Positioning Activity in 2005/6 Out of Town Retail & London
More information9M 2018 RESULTS 09 NOVEMBER 2018 TLG IMMOBILIEN AG 9M 2018 RESULTS
TLG IMMOBILIEN AG 9M 208 RESULTS DISCLAIMER This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking
More informationAgenda. About IREIT Global. Key Highlights. Portfolio Summary. Economy & Real Estate Review. Looking Ahead. Appendix : Overview of Tikehau Capital
2Q 2017 and 1H 2017 Results Presentation 10 August 2017 Agenda About IREIT Global Key Highlights Portfolio Summary Economy & Real Estate Review Looking Ahead Appendix : Overview of Tikehau Capital 2 About
More informationInterest Rates, Cap Rates, and the Real Estate Cycle
Interest Rates, Cap Rates, and the Real Estate Cycle Stephen Hester, Chief Executive We are real estate investors and create value by actively managing, financing and developing prime commercial property
More informationJune Review and results
June 2005 - Review and results Contents Business overview Financial highlights Debt structure Property statistics Operational highlights Share capital structure Pipeline 2005/6 2 Business overview Property
More information> Financing costs sharply down by 38.6% or MEUR 10.3 to MEUR due to successful refinancing measures undertaken in FY 2017
Q1 - HIGHLIGHTS PORTFOLIO EFFICIENCY ON VERY ROBUST LEVEL COST SAVINGS AND IMPROVED KPIs > Occupancy rate stable at record level of 94.2% > Adjusted rental income (like-for-like) rose 3.7% > Overall rental
More information2013 RESULTS INVESTORS PRESENTATION. 20 March 2014
2013 RESULTS INVESTORS PRESENTATION 20 March 2014 AGENDA 1. 2013 highlights 3 2. Strategy 7 3. Market overview 9 4. Portfolio overview 12 5. Key financial results 17 6. Additional materials 29 2 2013 HIGHLIGHTS
More informationSummary 1-2. Chairman's and Managing Director's report 3-9. Independent auditor s review report 10
REPORT AND ACCOUNTS June 2018 INDEX Page Summary 1-2 Chairman's and Managing Director's report 3-9 Independent auditor s review report 10 Condensed Consolidated Statements of Financial Position 11-12 Condensed
More informationChairman s Review 11 Joint Chief Executives Review and Finance Report 24 Principal Risks and Uncertainties 25 Corporate and Social Responsibility
ANNUAL REPORT 2 01 3 Contents Section 1 Strategic Report Highlights Chairman s Review 11 Joint Chief Executives Review and Finance Report 24 Principal Risks and Uncertainties 25 Corporate and Social Responsibility
More informationAppendix 1. London Economy: Jobs growth. Central London office potential completions 1. Headline office rents. Great Portland Estates. Growth.
23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 Great Portland Estates Appendix 1 London Economy: Jobs growth 6 55 5 Growth Decline 45 4 35 Dec 8 Employment intentions Dec 9 Dec 1 Dec 11 Dec 12
More informationAberdeen Standard European Logistics Income PLC
Aberdeen Standard European Logistics Income PLC A new investment trust to be listed on the premium segment of the London Stock Exchange offering a focused long term income strategy exploiting the demand-supply
More information3Q 2017 and 9M 2017 Results Presentation 9 November 2017
3Q 2017 and 9M 2017 Results Presentation 9 November 2017 Agenda About IREIT Global Key Results Highlights Portfolio Summary Economy & Real Estate Review Looking Ahead Appendix : Overview of Tikehau Capital
More informationChief Executive - Neil Sinclair Finance Director - Stephen Silvester Executive Director - Richard Starr INVESTOR PRESENTATION FEBRUARY 2017
Chief Executive - Neil Sinclair Finance Director - Stephen Silvester Executive Director - Richard Starr INVESTOR PRESENTATION FEBRUARY 2017 CONTENTS Introduction & Highlights NEIL SINCLAIR, CHIEF EXECUTIVE
More informationMAS REAL ESTATE INC RESULTS PRESENTATION YEAR ENDED 30 JUNE 2017
MAS REAL ESTATE INC RESULTS PRESENTATION YEAR ENDED 30 JUNE 2017 CONTENTS Portfolio overview.... 3 Key metrics.... 4 Distribution targets.... 5 Acquisitions and disposals.... 7 New Waverley.... 8 Prime
More informationFY2017 Annual General Meeting 19 April 2018
FY2017 Annual General Meeting 19 April 2018 Agenda Key Highlights About Tikehau Capital European Market Review Portfolio Overview Financial Highlights Conclusion 2 Key Highlights FY2017 Key Highlights
More informationFinal Results Presentation. Year ended 30 June 2016
Final Results Presentation Year ended 30 June 2016 Overview of TCS 378m portfolio 56 years dividend track record 51% founder Ziff family shareholding 57% of debt is long term fixed interest 2007 converted
More informationPrologis Supplemental Information
Fourth Quarter 2016 Supplemental Information Unaudited Table of Contents Highlights 1 Company Profile 3 Company Performance 5 Guidance Financial Information 6 Consolidated Balance Sheets 7 Consolidated
More informationThreats and opportunities in Dutch Office Investment Market
9th April 213 Threats and opportunities in Dutch Office Investment Market Alphons Spaninks Local Head of Asset Management Benelux & Nordics Real Estate Investment Seminar 213 Dutch Real Estate: Office
More informationHIGHLIGHTS PROPERTY FOR INDUSTRY 2017 ANNUAL RESULTS BRIEFING
HIGHLIGHTS Significant acquisition activity: $84.3 million of property acquired, improving portfolio metrics and providing significant medium to long-term development potential Transition of the Penrose
More information16.1c c c
1 2016 Interim Result Highlights Successful delivery, ahead of PDS 2 Exceeded revised earnings guidance Six months to 31 Dec 15 Solid capital management 7.97c 7.65c $2.15 28.3% Earnings per unit Distribution
More informationSCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC HALF YEAR REPORT AND ACCOUNTS
Schroder European Real Estate Investment Trust PLC (Incorporated in England and Wales) Registration number: 09382477 JSE Share Code: SCD LSE Ticker: SERE ISIN number: GB00BY7R8K77 SCHRODER EUROPEAN REAL
More informationAssura Group. Results Presentation year ended 31 March Investing in the future of primary care property
Assura Group Results Presentation year ended 31 March 2013 Investing in the future of primary care property Assura Group Introduction Graham Roberts Investing in the future of primary care property Assura
More informationResults for the half year ended 31 December February Rochedale Motorway Estate, QLD, Australia
Results for the half year ended 31 December 2018 14 February 2019 Rochedale Motorway Estate, QLD, Australia Important Notice and Disclaimer + This document has been prepared by Goodman Group (Goodman Limited
More informationPrologis Supplemental Information
Fourth Quarter 2017 Supplemental Information Unaudited Table of Contents Highlights 1 Company Profile 3 Company Performance 5 Guidance Financial Information 6 Consolidated Balance Sheets 7 Consolidated
More informationDS Smith Plc. Full Year Results 2010/11 23 June 2011
DS Smith Plc Full Year Results 2010/11 23 June 2011 Introduction Miles Roberts Group Chief Executive 2 Strong performance, more to go for Packaging volume up 8% EBITA up 39% to 136.1m, 20% excluding Otor
More informationH Interim Results. 18 May 2017
H1 2017 Interim Results 18 May 2017 Agenda Highlights - Peter Fankhauser CEO Financial results Strategic progress Current trading and outlook Page 2 Strategic actions leading to improved performance Growing
More informationATRIUM COMPANY PRESENTATION
ATRIUM COMPANY PRESENTATION THE LEADING OWNER & MANAGER OF CENTRAL EASTERN EUROPEAN SHOPPING CENTRES 1H2016 ATRIUM LEADING OWNER & MANAGER OF CEE SHOPPING CENTRES A UNIQUE INVESTMENT OPPORTUNITY Strong
More informationPreliminary Results Presentation Year ended 31 March
Preliminary Results Presentation www.britishland.com Introduction Chris Grigg Chief Executive Executive Summary Resilient operational performance underlying profits stable at 268m Management actions have
More informationFull year results to 31 December Morgan Sindall Group plc 22 February 2018
Full year results to 31 December 2017 Morgan Sindall Group plc 22 February 2018 Agenda Introduction John Morgan FY 2017 Financial and Operational Review Steve Crummett Investments John Morgan 2 Summary
More informationOur Strategy is Clear
Our Strategy is Clear Strategy 100% central London West End focus (71%) Reposition properties Low rents ( 52.80 psf) Flex operational risk Execution / ready to invest Low financial leverage 15.4% LTV 3
More informationTHE AFRICA OPPORTUNITY
PETER WELBORN THE AFRICA OPPORTUNITY API CONFERENCE 2016 Africa: the growth 1continent AFRICA S POPULATION GROWTH Africa has the fastest population growth of any global region. Africa s population has
More informationANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST Presentation overview
ANNUAL RESULTS Presentation overview Rebosis highlights Sisa Ngebulana New Frontier results Mike Riley Ascension results Kameel Keshav Rebosis results Sisa Ngebulana 02 1 Key Rebosis Highlights Distribution
More informationSUMMARISED UNAUDITED CONSOLIDATED RESULTS FOR THE THREE MONTHS ENDED 30 NOVEMBER 2017
New Frontier Properties Ltd (Incorporated in the Republic of Mauritius on 5 June 2014) (Registration number 123368C1/GBL) SEM share code: NFP.N000 JSE share code: NFP ISIN: MU0453N00004 ( New Frontier
More informationPrologis Supplemental Information
Third Quarter 2017 Third Quarter 2017 Supplemental Information Unaudited Unaudited Table of Contents Highlights 1 Company Profile 3 Company Performance 5 Guidance Financial Information 6 Consolidated Balance
More informationInterim Results Interim Results. for the half-year ended 30 June Allied Irish Banks, p.l.c.
Interim Results 2006 Interim Results for the half-year ended 30 June 2006 Allied Irish Banks, p.l.c. 1 Forward looking statements A number of statements we will be making in our presentation and in the
More information2Q 2014 RESULTS ANALYST AND INVESTOR UPDATE. August 27, 2014
2Q 214 RESULTS ANALYST AND INVESTOR UPDATE August 27, 214 1H 14 results Highlights Achievements 1H 214 Key metrics 1H 214 ( m) Strategy Sale of 25% holding in Austrian developer UBM AG reduces non-strategic
More informationThe financial information included in this release is based on the Westfield Corporation s IFRS financial statements. Non IFRS financial information
The financial information included in this release is based on the Westfield Corporation s IFRS financial statements. Non IFRS financial information has not been audited or reviewed. This release contains
More informationSEGRO European Logistics Partnership S.à r.l. SEGRO European Logistics Partnership
SEGRO European Logistics Partnership Société à responsabilité limitée Registered in No: B177300 Subscribed Share Capital: EUR 17,300 CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF THE RÉVISEUR D ENTREPRISES
More informationQuarterly Statement A S O F
Quarterly Statement AS OF KEY FACTS Q3 / 2017 T 1 Key facts RESULTS OF OPERATIONS Q3 2017 Q3 2016 + / % / bp 01.01. 01.01. 30.09.2016 Rental income million 134.7 131.9 2.1 398.4 381.3 4.5 Net rental and
More informationPrologis Supplemental Information
Second Quarter 2018 Supplemental Information Unaudited Table of Contents Highlights 1 Company Profile 3 Company Performance 5 Guidance Financial Information 6 Consolidated Balance Sheets 7 Consolidated
More informationThe Office Property Handbook 4.0 Investment & Financing Keys Spain 2019
The Office Property Handbook 4.0 Investment & Financing Keys Spain 2019 February 2019 Financial Advisory I Real Estate 1 of 19 The spanish economy keeps growing and remains stable but a lower pace than
More informationAmsterdam Schiphol 25 July Half-year results 2014
Amsterdam Schiphol 25 July 2014 Half-year results 2014 Highlights Financial performance H1 2014 H1 2013 Direct result per share 1.73 1.76 Indirect result per share (1.50) (1.15) EPRA NAV per share 62.48
More informationSELP Finance S.à r.l. SELP Finance
SELP Finance Société à responsabilité limitée Subscribed Share Capital: EUR 19,296 CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF THE RÉVISEUR D ENTREPRISES AGRÉÉ AS AT AND FOR THE YEAR ENDED 31 DECEMBER
More informationHansteen Holdings PLC Half Year Results
22 August Hansteen Holdings PLC ( Hansteen or the Group or the Company ) HALF YEAR RESULTS Hansteen (LSE: HSTN), the investor in urban multi-let industrial property, announces its half year results for
More informationAgenda. Timon Drakesmith, Finance Director. Rights Issue Financial Results & Valuation. Robert Noel, Property Director
Unlocking potential Agenda Key Messages Market Opportunity Rights Issue Financial Results & Valuation Toby Courtauld Chief Executive Timon Drakesmith, Finance Director Investment Management Occupational
More informationResults for the half year ended 31 December February Insert Cover page. Millennium Centre, New Zealand
Results for the half year ended 31 December 2015 11 February 2016 Insert Cover page Millennium Centre, New Zealand Important notice and disclaimer + This document has been prepared by Goodman Group (Goodman
More informationReal Estate Investment Strategy
Real Estate Investment Strategy 8th of July, 2015 Alessandro Bronda Head of Global Real Estate Investment Strategy Group Real Estate Zurich s real estate strategy Zurich has a systematic and structured
More informationDEXUS Property Group. Institutional placement 3 December m securities at $0.73 to $0.84 raising $286m - $329m
DEXUS Property Group Institutional placement 3 December 2008 391.7m securities at $0.73 to $0.84 raising $286m - $329m DEXUS Funds Management Limited ABN 24 060 920 783 Australian Financial Services Licence
More informationSavills plc. Results for the six months ended 30 June 2016
Savills plc Results for the six months ended 30 June 2016 Disclaimer: Forward-looking statements These slides contain certain forward-looking statements including the Group s financial condition, results
More informationPrologis Supplemental Information
First Quarter 2017 Supplemental Information Unaudited Table of Contents Highlights 1 Company Profile 3 Company Performance 5 Guidance Financial Information 6 Consolidated Balance Sheets 7 Consolidated
More informationhttps://rnssubmit.com/cws/fckeditor/editor/fckeditor.html?instancename=ctl00_pag...
Page 1 of 7 Real Estate Investors PLC ("REI" or the "Company" or the "Group") Half Year Results for the six months to 30 June 2013 Real Estate Investors PLC (AIM:RLE) the West Midlands based property group,
More informationInvestor Presentation February 2018
Investor Presentation February 2018 Agenda About IREIT Global Overview of Tikehau Capital Financial Highlights Economy & Real Estate Review Outlook & Strategy 2 About IREIT Global About IREIT Global First
More informationCircle Property. Lifting estimates again. Revaluation gains and strong rent growth. Upside potential from refurbished assets
Circle Property Lifting estimates again Review of trading update Real estate Circle will publish results for the year to 31 March 2018 in June but recent updates show further strong momentum. Ongoing asset
More informationPRESENTING TODAY. Craig Peirce Chief Finance and Operating Officer. Simon Woodhams Chief Executive Officer
PRESENTING TODAY Simon Woodhams Chief Executive Officer Craig Peirce Chief Finance and Operating Officer 2 2018 HIGHLIGHTS Increased earnings and dividends: profit after tax up $58.4 million, 3.2% increase
More information