CIVITAS SOCIAL HOUSING PLC returns economic Responsible | footprint carbon Reduced | impact social Measurable | standards governance Enhanced | |||
Half Year Report
for the six months ended 30 September 2021
Content Themes
We have identified four key themes which are highlighted throughout the report.
Responsible | Reduced | Measurable | Enhanced | |||
economic | carbon | social | governance | |||
returns | footprint | impact | standards | |||
Contents
About Us
1 Our Purpose
2 What We Do
3 Company Overview
4 How We Performed - Financial Highlights
5 Key Achievements - Operational Highlights
10 Care-based Housing
11 A Place For Me
12 Golders Green
14 Our Portfolio
16 Investment Adviser's Report
26 Key Performance Indicators
27 Alternative Performance Measures
28 Principal Risks and Risk Management
Environmental, Social & Governance
30 The Portfolio's Carbon Footprint
32 Carbon Reduction - EPC/SAP ratings
33 How Have We Started to Reduce the Carbon Footprint in our Portfolio? 34 E.ON Framework Agreement - Implementation
35 Social Impact: The Good Economy (November 2021)
38 Governance - Indices
40 Statement of Directors' Responsibilities
41 Independent Review Report
Condensed Consolidated Financial Statements
43 Condensed Consolidated Statement of Comprehensive Income
44 Condensed Consolidated Statement of Financial Position
45 Condensed Consolidated Statement of Changes in Equity
46 Condensed Consolidated Statement of Cash Flows
47 Notes to the Condensed Consolidated Financial Statements
63 Shareholder Information
64 Glossary
About Us
Our Purpose
CIVITAS SOCIAL HOUSING PLC ("CSH", "Civitas" or the "Company") and its subsidiaries (the "Group") invests across the UK in care-based community housing and healthcare facilities for the benefit of working age adults with long-term care needs.
Since IPO in 2016, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind in the UK that has been independently valued at £946.3m.
The Company provides long-termcommunity-based homes for 4,391 people, across 178 local authority areas that are supported by 119 specialist care providers and 17 housing associations and charities ("Approved Providers").
The delivery of care in the community is a primary government policy aimed at enabling people with long-term care needs to reside close to family and friends and achieve more independent and fulfilled lives. It delivers better personal outcomes and offers value for money for the public purse that meets the costs of the service.
Residents, whose average age is 32 years, typically reside in their adapted CSH community home for many years and sometimes for their whole life.
As a result of making this provision available, CSH is able to offer shareholders the potential of stable, long-term returns with progressive dividends whilst delivering measurable social impact on a large scale.
The Company's investment policy enables transactions to be entered into directly with Approved Providers, as well as the NHS and other organisations that are either not for profit and/or in receipt of public funding.
SOCIAL ENVIRONMENTAL, REPORT STRATEGIC GROUP GOVERNANCE &
INFORMATION ADDITIONALSTATEMENTS FINANCIAL GOVERNANCE CORPORATE
PLC HOUSING SOCIAL CIVITAS
2021 REPORT YEAR HALF
1
CIVITAS SOCIAL HOUSING PLC HALF YEAR REPORT 2021
What We Do
Social Housing Pioneers
CSH is a leading provider of care-based community housing in the UK. It was established in 2016 by the founders of its Investment Adviser, Civitas Investment Management Limited ("CIM" or the "Investment Adviser"), from the long-standing conviction that private capital could play a vital and ethical role in the delivery of homes within the social housing sector.
CSH believes that access to a decent home is a basic human right from which so much more can be achieved, particularly for people who are living with a life-long disability.
With millions of people stuck on housing waiting lists across the UK, or trapped in long-stay hospitals, CSH became the first public company to bring large scale equity investment into the sector.
The Company has the dual objectives of achieving both positive financial returns and large scale measurable social impact.
Our Portfolio
as at 30 September 2021
£946.3m | 4,391 |
Investment property | Tenants |
independent valuation* | |
648 | 1 |
Properties | Mission |
* please see note 9.0 for details of the valuation.
2
Company Overview
as at 30 September 2021
£652m | 8% |
Equity Capital Raised | Target Return |
£1,034m | £673m |
GAV* | NAV** |
Current IFRS Value (30 September 2021)
6.3% | 34.55% |
Dividend Yield***# | Current Leverage# |
(annual) | (30 September 2021) |
Closed Ended | 87.5 pence |
Permanent Capital | Share Price**** |
Fund Structure |
- Alternative Performance Measure. * means Total Assets.
** means Net Asset Value of the Group prepared in accordance with IFRS accounting standards.
*** calculated using the share price as at 30 September 2021.
**** as at 30 September 2021.
Terms are defined in the Glossary.
SOCIAL ENVIRONMENTAL, REPORT STRATEGIC GROUP GOVERNANCE &
INFORMATION ADDITIONALSTATEMENTS FINANCIAL GOVERNANCE CORPORATE
PLC HOUSING SOCIAL CIVITAS
2021 REPORT YEAR HALF
3
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Civitas Social Housing plc published this content on 09 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2021 11:21:03 UTC.
