Business
Final Results
Final Results.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n \n \n \n SIRIUS REAL ESTATE LIMITED\n \n \n \n (Incorporated in Guernsey)\n \n \n Company Number: 46442\n \n \n JSE Share Code: SRE\n \n \n LSE (GBP) Share Code: SRE\n \n \n LEI: 213800NURUF5W8QSK566\n \n \n ISIN Code: GG00B1W3VF54\n \n \n \n \n \n \n \n \n \n \n \n Sirius Real Estate Limited\n \n \n \n \n (\"Sirius Real Estate\", \"Sirius\" or the \"Company\")\n \n \n \n \n Results for the year ended 31 March 2022\n \n \n \n \n \n \nCONTINUED STRONG RETURNS IN TRANSFORMATIVE YEAR\n \n \n \n \n \n \n 13 June 2022.\n Sirius Real Estate (LSE/JSE: SRE), the leading operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK, announces condensed consolidated financial results for the year to 31 March 2022.\n \n \n \n \n \n \n Operating platform continuing to drive rental growth, FFO and dividend\n \n \n \n · \n Group annualised rent roll increased 73.1% to €167.0 million (2021: €96.5 million1) as a result of demand and asset management led organic growth, acquisitions and the impact of BizSpace following completion in November 2021\n \n \n · \n Like-for-like annualised rent roll in Germany increased by 6.4% reflecting the eighth consecutive year of like-for-like annualised rent roll growth in excess of 5.0%\n \n \n ·\n Like-for-like annualised rent roll in the UK increased by 7.6% in the Company's 4.5 month period of ownership of BizSpace\n \n \n ·\n Profit before tax of €168.9 million, representing a 3.2% year-on-year increase (2021: €163.7 million)\n \n \n ·\n Funds From Operations (\"FFO\") increased by 22.5% to €74.6 million (2021: €60.9 million)\n \n \n ·\n H2 dividend of 2.37c, an increase of 19.7% on the 1.98c dividend relating to the same period in the prior year. Total dividend relating to the financial year ended 31 March 2022 of 4.41c, an increase of 16.1% (2021: 3.80c) with the same pay-out ratio of 65% of FFO\n \n \n ·\n Total shareholder accounting return of 20.0% (2021: 19.5%)\n \n \n \n \n \n \n Continued acquisitive growth, asset recycling and entry into new market \n \n \n \n · \n €201.9 million of acquisitions in Germany completed or notarised across 10 sites, providing an attractive mix of income and value-add opportunity\n \n \n · \n Entry into UK market via ac...