Sirius Real Estate Limited, a leading operator of branded business and industrial parks in Germany and the UK, has announced impressive half-year results. The company’s funds from operations (FFO) have soared to €53 million, demonstrating significant year-over-year growth. This success has prompted an 11.1% increase in the dividend to 3.00 cents per share.
Rent roll expansions in both Germany and the UK have played a crucial role in Sirius Real Estate’s positive performance. In Germany, the rent roll reached €122.5 million, while in the UK, it amounted to £50.7 million (€58.6 million). These expansions have laid a strong foundation for rental growth across the company’s properties.
While operating profit experienced a reduction to €47.5 million, this can be attributed to past valuation gains. Basic earnings per share (EPS) also decreased to 2.70 cents. However, headline EPS saw an impressive upswing of 11.2%, reaching 4.06 cents.
Sirius Real Estate has also announced ex-dividend dates for its shareholders. Those in South Africa will be eligible for dividends on December 12, while shareholders in the UK will receive dividends on December 14. The corresponding record dates follow on December 14 and December 15.
In light of market volatility, Andrew Coombs, CEO of Sirius Real Estate, emphasized the company’s resilience and ability to deliver strong returns through asset management initiatives. The company has also demonstrated financial prudence with a slight improvement in net loan-to-value (LTV) ratio, which reduced from 41.6% to 40.8%.
Additionally, Sirius Real Estate’s recent post-balance sheet transactions totaling €100 million exhibit the company’s proficiency in asset recycling. With the sale of assets worth €47.4 million in Germany and the acquisition of new ones for €52.9 million in the UK, the company continues to optimize its portfolio.
FAQ:
Q: What is Sirius Real Estate’s current dividend?
A: Sirius Real Estate has enhanced its dividend to 3.00 cents per share.
Q: What were the rent roll figures for Germany and the UK?
A: The rent roll reached €122.5 million in Germany and £50.7 million (€58.6 million) in the UK.
Q: When are the ex-dividend dates for Sirius Real Estate shareholders?
A: Shareholders in South Africa will be paid dividends on December 12, while shareholders in the UK will receive dividends on December 14.
Q: What is the CEO’s perspective on the company’s performance?
A: Andrew Coombs, CEO of Sirius Real Estate, highlights the company’s resilience and strong returns through asset management initiatives amid market volatility.
Q: Has Sirius Real Estate made any recent transactions?
A: Yes, the company sold assets worth €47.4 million in Germany and acquired new assets for €52.9 million in the UK.