2022 HALF YEAR RESULTS
28 JULY 2022
CLEAR & CONSISTENT STRATEGY CONTINUES TO DELIVER
Portfolio valuation | +7.2% |
ERV growth | +5.9% |
Net investment | £548m |
Like-for-like rental growth | +7.1% |
Uplift on rent reviews and | +24% |
renewals | |
Occupancy | 97% |
LTV ratio | 23% | |
Cost of Debt1 | 1.8% | |
Debt Maturity1 | 8.7 years | 2 |
1 Proforma for US Private Placement signed in early July
OCCUPIER OUTLOOK REMAINS VERY POSITIVE
European 1H22 take-up 8% higher than 1H211 | Low vacancy rate across all European markets2 |
Take-up, million sqm
45.0 | Estimated |
H2 take-up |
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1H211H22
Vacancy, %
16
14
12
10
8
6
4
2
0
UK | France | Germany | ||||
Poland | Italy | Spain | ||||
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q22
1 | Source: Savills, Q2 2022 numbers are preliminary | 3 |
2 | Source: CBRE |
PRIME MODERN PORTFOLIO HEAVILY WEIGHTED TO URBAN MARKETS
Portfolio split by geography and asset type
(at 30 June 2022)
Poland £1.4bn
Other, £1.3bn
Italy
£1.9bnLondon
£8.1bn
France £2.7bn
AUM
£23.8bn
Germany
£2.9bn
Thames Valley
National Logistics £2.0bn
£3.5bn
Urban (67%) | Big box (31%) |
Other (2%)
4
A VERY DIVERSIFIED AND GROWING CUSTOMER BASE
Customer sectors
(headline rent, SEGRO share)
Other
Services & 6%
ultilities | Transport and |
7% | |
logistics | |
Technology, Media and | 22% |
Telecoms | |
11% | |
Wholesale and | |
Retail | Retail |
Distribution | |
19% | |
10% | |
Post and | |
Manufacturing | Parcel |
16% | Delivery |
9% |
1,462 customers
Top 20 customers = 32% of total group headline rent
No single customer
- 7% of total group headline rent
5
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SEGRO plc published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 07:27:05 UTC.