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Full Year Results for the 12 Months Ended 30 September 2020
“This was a good year for the business, during which we delivered a robust financial performance and made further strategic progress. We have worked closely with our tenants to support them where necessary during the Covid-19 pandemic and have benefited from the resilience of our business, based on high-quality assets in prime locations, a robust balance sheet and a tenant base that is financially strong.
“Our market is compelling, and the already positive structural trends, such as the growth of e-commerce, have accelerated demand for logistics space. We see exciting opportunities ahead of us and the refinements we are making to our strategy and dividend policy will support the delivery of secure and attractive dividends and capital growth for shareholders. We have a significant pipeline of growth opportunities and look forward to making further progress in the year ahead.”
Robert Orr, Chairman
|30 Sep 2020||30 Sep 2019 (1)||+/(-)|
|Portfolio value||€837.9m (5)||€689.1m (2,5)||21.6%|
|IFRS NAV per share (3)||€1.19||€1.13m||5.3%|
|EPRA Net Reinstatement Value per share (3)||€1.30||€1.21||7.4%|
|Dividend per share||4.40 cents||3.40 cents|
|Total Return (6)||11.3%||9.5%||1.8 pts|
|Profit before tax||€53.58m||€26.34m|
|Basic Earnings Per Share (“EPS”) (4)||10.60 cents||6.25 cents|
|Adjusted EPS (4)||4.16 cents||3.25 cents|
|EPRA cost ratio||31.3%||34.5%||(3.2) pts|
|Loan to value (“LTV”) ratio||39.9%||33.3%||6.6 pts|
1 The comparator period is the 15 months from 1 July 2018 to 30 September 2019
2 Includes held for sale assets
3 Following the October 2019 update to EPRA’s Best Practice Recommendations Guidelines, the Company has adopted EPRA net reinstatement value (NRV) as its primary measure of net asset value and restated its September 2019 position in line with this change. See note 25 of the Financial Statements for reconciliation.
4 See note 12 to the financial statements for reconciliation
5 Like-for-like increase of 5.4%
6 As per KPI definition
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