Sirius Real Estate Limited (SRE) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everybody and welcome to today's presentation of Sirius Real Estate's full year results for the period ending March 31st, 2026. My name is Andrew Coombs, I am the Group Chief Executive Officer of Sirius and I'm joined this morning by Chris Bowman who is the Group Chief Financial Officer of Sirius Real Estate. we will take you through this morning's presentation. As you all know, Sirius is an on-balance sheet, best-in-class owner and operator of mixed-use light industrial business parks on the edge of key towns in Germany and the UK. Please remember that Sirius has for the last four and a half years operated in both the German and the UK markets under the brand of Sirius in Germany and for the last four and a half years under the brand of BizSpace within the UK. The group currently operates over 3 billion euros of property, 90% of which is wholly owned. This consists of over 160 sites and nearly 2,000 commercial buildings. We have 76 sites in the UK, 78 sites in Germany and 7 sites within the Titanium Joint Venture. If we turn to page 6, we can look at the highlights for the period. The Sirius Group is a rigorous, well-run and growing organisation. We have proved the resilience and the reliability of the business model during Brexit, during COVID, during the Liz Trust budget, the Ukraine war and the gas crisis in Germany. and most recently through a period of rising interest rates in Europe and the UK, during which time we have successfully protected valuations despite yield expansion. And in that time, we have continuously grown our revenues, increased our dividend payments, and as I have said, we've made sure that the value of our properties goes up, not down. In the period to March 31st, 2026, we once again grew the group like-for-like rent roll by mor...