최종 결과
부동산 투자자 Plc
("REI" 또는 "회사" 또는 "그룹")
최종 결과
31년 2023월 XNUMX일로 종료되는 연도에 대해
Orderly sales programme underway, debt reduced and continued covered dividend
Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT) with a portfolio of 1.24 million sq ft of investment property, is pleased to report its final results for the year ended 31 December 2023:
Successful sales, debt reduction and underlying profitability
· Completed sales totalling £17.97 million (an aggregate uplift, pre-costs, of 2.93% above December 2022 valuations)
· Disposal proceeds used to pay down £17.1 million of debt, reducing drawn debt to £54.4 million (FY 2022: £71.5 million)
· LTV(현금 순액)가 32.4%로 감소(2022년: 36.8%)
· Revenue of £11.5 million (FY 2022: £13.3 million) - decrease mainly due to sales
· 세전 기본 이익* 4.5만 파운드(2022회계연도: 4.6만 파운드)
· EPRA** EPS of 2.6p (FY 2022: 2.7p)
· Basic (loss)/earnings per share of (5.4p) (FY 2022: 6.3p)
· Loss before tax of £9.4 million (FY 2022: £10.9 million profit), primarily as a result of a revaluation deficit of £13.2 million on investment properties (FY 2022: gain of £3.2 million) (non-cash item)
· EPRA** 주당 순유형자산("NTA") 54.9p(2022 회계연도: 62.2p)
· £8 million cash at bank as at 31 December 2023
· Deficit in market value of hedging instrument of £499,000 (FY 2022: gain of £2.2m) (non-cash item)
Uninterrupted Fully-Covered Dividend
· 최종 배당금 0.625p per share, payable in April 2024 as an ordinary dividend
· Total fully covered dividend for 2023 of 2.5p per share (FY 2022: 2.5p) (the level of dividend for 2024 will be subject to the pace of further disposals) reflecting a yield of 7.4% based on a mid-market opening price of 33.75p on 25 March 2024
· 50.6년 배당 정책 개시 이후 총 2012만 파운드가 주주들에게 신고/지급되었습니다.
Robust Portfolio Performance
· Gross property assets of £145.5 million (FY 2022: £175.4 million) with 41 assets and 183 occupiers
· Like-for-like portfolio valuation down by 8.44% to £143.1 million (FY 2022: £156.3 million)
· 2023년 전체 임대료 징수율 99.82%로 견고한 임대료 징수 수준 지속
· Completed 90 lease events during the year
· WAULT*** of 5.24 years to break and 6.01 years to expiry (FY 2022: 4.98 years & 6.29 years)
· Contracted rental income of £10.9 million p.a. (FY 2022: £12.6 million p.a.) net of disposals
· Portfolio occupancy of 83.03% (FY 2022: 84.54%)
· 주요 임대 계약은 2024년 85.91월에 완료됩니다. 이로 인해 기존 점유율이 11.2%로 향상되고 계약 임대 수입이 연간 £XNUMX백만으로 증가합니다(판매 및 기타 임대 활동에 따라 다름).
Post Year-End Activity
· Additional £1 million of disposals completed since period-end
· Further £2.7 million of debt repaid since period-end, resulting in debt reducing to £51.7 million
· Additional pipeline sales in legals
· 웰빙 pipeline lettings of £803,107 p.a. (gross) (£529,471 p.a. net)
· Revised remuneration policy and Shorter Term Incentive Plan announced in January 2024, improving alignment with the Disposal Strategy
· In March 2024, the Group extended the £20 million facility with Lloyds Banking Group Plc for a further 12 months to 31 May 2025, the £28 million facility with National Westminster Bank Plc for a further 12 months to June 2025 and the £7 million facility with Barclays Bank PLC for a further 6 months to 30 June 2025. As a result, following the multiple increases in interest rates by the Bank of England, the new average cost of debt is now 6.5%. It is the Group's intention to prioritise the repayment of debt from property sales proceeds, as reflected by the short-term nature of the facilities
Real Estate Investors Plc의 CEO인 Paul Bassi는 다음과 같이 말했습니다.
"Despite a backdrop of negative market sentiment, higher interest rates and political instability, coupled with very low levels of property transactions, we have secured underlying profits of £4.5 million, whilst paying a continued fully-covered dividend.
Having finalised and announced our strategic plan in January 2024, our priority is to continue disposing of assets and maximising returns to shareholders, within the stated timeframe.
We have a healthy pipeline of sales in legal proceedings with completions anticipated in H1 2024 and we will continue to capitalise on ongoing demand for smaller lot sizes from private investors and special purchasers. We will be holding our larger assets for income until corporate and institutional buyers return to the market. In the meantime, the business is operationally robust and we will continue intensively managing assets to maximise income and reduce vacancy levels.
We are committed to maximising shareholder returns, whilst remaining open to a corporate transaction that is in the best interest of shareholders. In the meantime, we are focused on further sales and a full repayment of our debt, with the Board's intention to continue paying a fully covered quarterly dividend."
재무 및 운영 결과
| 31 12 월 2023 | 31 12 월 2022 |
수익 | 원 11.5 만 | 원 13.3 만 |
세전(손실)/이익 | (9.4만 파운드) | 원 10.9 만 |
세전 기본 이익* | 원 4.5 만 | 원 4.6 만 |
약정임대소득 | 원 10.9 만 | 원 12.6 만 |
에프라 EPS** | 2.6p | 2.7p |
기본(손실)/주당순이익 | (5.4:XNUMX)p | 6.3p |
주당 배당금 | 2.5p | 2.5p |
평균 부채 비용 | 3.7% | 3.7% |
유사 임대 소득 | 원 10.9 만 | 원 11.1 만 |
| 31 12 월 2023 | 31 12 월 2022 |
총자산 | 원 145.5 만 | 원 175.4 만 |
주당 EPRA NTA | 54.9p | 62.2p |
유사 자본 가치 psf | £115.46psf | £126.10psf |
유사 가치 평가 | 원 143.1 만 | 원 156.3 만 |
임차인 | 183 | 201 |
부숴버리려고 WAULT*** | 5.24년 | 4.98년 |
총 소유권(평방피트) | 1.24만 평방피트 | 1.37만 평방피트 |
순자산 | 원 95.6 만 | 원 109 만 |
가치에 대한 대출 | 38.0% | 42.2% |
순현금 가치에 대한 대출 | 32.4% | 36.8% |
정의
* Underlying profit before tax excludes gain on revaluation and sale of properties and interest rate swaps
** EPRA = European Public Real Estate Association
*** WAULT = Weighted Average Unexpired Lease Term
문의 :
부동산 투자자 Plc 폴 바시/마커스 데일리 |
+44 (0)121 212 3446 |
Cavendish Capital Markets Limited (지정 자문가) 케이티 버킨/벤 제인스 |
+44 (0)20 7220 0500 |
자유(Broker) 제이미 리차즈/윌리엄 킹 |
+44 (0)20 3100 2000 |
부동산 투자자 Plc 소개
Real Estate Investors Plc는 공개적으로 상장된 내부 관리형 부동산 투자 회사이자 복합용도 상업용 부동산 포트폴리오를 갖춘 REIT입니다. 이는 전 세계 미들랜드 부동산 시장에서 100년 이상의 운영 경험을 보유한 고도로 숙련된 부동산 팀이 관리합니다. 분야. 회사의 전략은 적극적인 포트폴리오 관리, 개조, 용도 변경 및 임대를 통해 실현 가능한 소득 및 자본 성장 잠재력을 가지고 미들랜드 전역의 확립되고 검증된 시장에 있는 좋은 위치의 부동산 자산에 투자하는 것입니다. 포트폴리오는 단일 자산이나 점유자에 크게 의존하지 않습니다. 1년 2015월 XNUMX일 회사는 REIT로 전환되었습니다. 부동산 투자 신탁은 적격 활동으로 인한 임대 소득이나 자본 이득에 대해 법인세를 납부하지 않는 상장된 부동산 투자 회사 또는 그룹입니다. 회사는 배당 정책을 지원하여 자산에서 자본 성장과 소득 증대를 달성하는 것을 목표로 합니다. 회사에 대한 자세한 내용은 다음에서 확인할 수 있습니다. www.reiplc.com.
회장 및 최고경영자의 성명서
During 2023, the UK property market has seen very low levels of investment transactions, a consequence of widespread political uncertainty, combined with high interest rates and elevated inflation levels. Despite this, REI's portfolio remains resilient and stable, shielded from wider economic pressures due to its diversified nature and limited exposure to high-risk sectors, achieving 99.82% overall rent collection for 2023.
Against this challenging backdrop, REI successfully disposed of £17.97 million of assets during the period, achieving an aggregate uplift (pre-costs) of 2.93% above December 2022 book values. This is due to the nature of our portfolio and our ability to 'break up' selected assets, unlocking the underlying portfolio value and feeding the appetite from private investors and owner occupiers for smaller, well-positioned assets.
Demand from larger corporate and institutional buyers is yet to materialise and we will therefore continue to intensively manage our larger assets, maximising rental income and occupancy levels to support our dividend payments, until such demand returns, which we anticipate to be in the latter part of 2024 and 2025.
Using proceeds from sales and in line with our recently announced Disposal Strategy, we repaid £17.1 million of debt during 2023, reducing our total drawn debt to £54.4 million (FY 2022: £71.5 million). Over the last three years, REI has sold over £56.4 million of assets, on an aggregate basis, at or above book value, and repaid over £46 million of debt, in line with our stated strategy.
We currently have numerous disposals in solicitors' hands and are progressing our disposal programme, with a number of completions anticipated before the end of H1 2024. With the benefit of our unique market insight, we anticipate 2024 to be a year of continued sales to our unique buyer pool, consisting of special purchasers, owner occupiers and private investors.
Whilst REI's portfolio is diverse and attractive to these buyers, general market sentiment remains weak due to an increased cost of capital, persistent inflationary pressures and global uncertainty. Against this backdrop, market-wide valuation reductions were expected. The REI portfolio has suffered a relatively mild 8.44% reduction (£13.2 million) in like-for-like portfolio valuations to £143.1 million (FY 2022: £156.3 million). This is predominantly due to the nature of our stock, combined with the intensive management carried out across the portfolio by our asset management team.
Despite the £1.5 million p.a. loss of income associated with disposals during the period, asset management initiatives generated 90 lease events, stabilising occupancy at 83.03% (FY 2022: 84.54%), contracted rental income at £10.9 million p.a. (FY 2022: £12.6 million p.a.), and improving portfolio WAULT to 5.24 years to break and 6.01 years to expiry (FY 2022: 4.98 years & 6.29 years). This has resulted in revenue of £11.5 million (FY 2022: £13.3 million), underlying profits of £4.5 million (FY 2022: £4.6 million) and a loss before tax of £9.4 million (FY 2022: £10.9 million profit) (valuation decline is a non-cash item).
The notable letting of 2023 was to DHU Healthcare CIC at Birch House, Oldbury for £625,000 p.a., which was previously unoccupied. The Agreement for Lease was signed in October 2023 on a 10-year lease with a 5-year break and 6-months' rent free. NHS England have awarded the Midlands NHS111 contract to DHU Healthcare CIC, commencing in early April 2024 and making DHU the largest provider of NHS111 services in England, with responsibility for 11 million patients. Once the DHU lease commences, occupancy will rise to 85.91% and contracted rental income to £11.2 million p.a.
We have continued to manage the portfolio actively, resulting in 90 lease events. New tenants to the portfolio include; SpaMedica Limited, Luxury Leisure, and Swarco Smart Charging Limited. There are currently other lettings in pipeline legals which will improve occupancy and rental income further, subject to further portfolio disposals.
Following a healthy year of disposals and debt repayment, the total drawn debt now sits at £54.4 million, with debt spread across 3 lenders. Group LTV (net of cash) improved to 32.4% (FY 2022: 36.8%) and cost of debt was 3.7%. However, the fixed rate hedges on our debt expired on 30 November 2023 on £10 million for Lloyds Banking Group, 29 December 2023 for Barclays Bank and 1 March 2024 for National Westminster Bank. As a result, following the multiple increases in interest rates by the Bank of England, the new average cost of bank interest is 6.5%. It is the Group's intention to prioritise the repayment of debt from future property sales proceeds.
Following discussions with our bankers, in March 2024 the Group extended the £20 million facility with Lloyds Banking Group Plc for a further 12 months to 31 May 2025, the £28 million facility with National Westminster Bank Plc for a further 12 months to June 2025 and the £7 million facility with Barclays Bank PLC for a further 6 months to 30 June 2025. The facilities have been extended on short term bases as it is the Board's intention to repay portfolio debt in full, from the proceeds of the sales programme. Since the year-end, a further £2.7 million of debt has been repaid, reducing total drawn down debt to £51.7 million.
Against a challenging backdrop, the Board is pleased with the robust operational performance of the business which is reflected in the covered, uninterrupted dividend payment of 2.5p for 2023, taking the total declared/paid to shareholders since the commencement of our dividend policy in 2012 to £50.6 million. It is the Board's intention to continue paying an uninterrupted, fully-covered quarterly dividend payment to shareholders, subject to the pace of portfolio disposals.
The Board is committed to its formalised Disposal Strategy and maximising shareholder returns and remains open to a corporate transaction that is in the best interest of shareholders.
Disposal Strategy
As confirmed in our January 2024 'Trading and Strategic Update', the Board is committed to pursuing an orderly strategic sale of the Company's portfolio over the next three years, disposing of assets individually or collectively, at or above book value, to optimise returns to shareholders. The pace of the disposal programme will be dictated by market conditions, with an initial focus on repaying the Company's debt.
Whilst management are aligned with the business and remain major shareholders, a new Shorter Term Incentive Plan (STIP) has been introduced to replace the existing Long Term Incentive Plan (LTIP), which is aimed at retaining staff whilst providing an incentive to facilitate the orderly sale in the best interests of the shareholders. The Remuneration Committee has approved the new STIP along with a 33% reduction in Board and Executive remuneration to support the Company's ongoing cost saving initiative. In determining the revised remuneration policy and STIP, the Company's Remuneration Committee consulted with REI's largest institutional shareholders.
피제수
The Company's dividend payments continued throughout 2023, despite market uncertainty and significant disposals. The first three quarterly dividend payments in respect of 2023 were paid at a level of 0.625p per share, fully covered. Due to the level of disposals, the final dividend in respect of 2023 is confirmed at the same level at 0.625p per share, reflecting a total fully-covered dividend payment for 2023 of 2.5p (FY 2022: 2.5p) (which would be the basis for the dividend for FY2024, subject to the pace of further disposals) and a yield of 7.4% based on a mid-market opening price of 33.75p on 25 March 2024. The Board remains committed to paying a covered dividend, subject to business performance and the pace of further disposals.
The proposed timetable for the final dividend, which will be an ordinary dividend, is as follows:
배당락일: | 4 4월 2024 |
녹화 날짜: | 5 4월 2024 |
배당금 지급일: | 26 4월 2024 |
2024 용 Outlook
The Board is steadfast in its commitment to maximising shareholder returns via sales and full repayment of our debt, with the view to then returning capital to shareholders.
REI will continue to strive to achieve maximum pricing on disposals and anticipate potential future valuation growth, via intensive asset management and a much needed improvement in market conditions.
We remain confident that our proven and diversified portfolio will withstand market headwinds and any uncertainty this election year will bring. We expect that any interest rate reduction will lead to a market recovery that will allow us to accelerate our sales programme and dispose of our larger corporate and institutional grade assets.
In the meantime, we remain open to a corporate transaction including selling the whole of the portfolio on terms that are in the best interests of shareholders.
이해관계자
We sincerely thank our shareholders, advisers, tenants and staff for their ongoing support and in particular, in assisting management with the finalised strategy, which is intended to maximise returns to shareholders.
William Wyatt Paul Bassi CBE D. Univ
회장 최고경영자
25 March 2024 25 March 2024
재산 보고서
UK Property Market Overview
Commercial property investment was suppressed throughout 2023, with high and uncertain interest rates taking their toll on activity across the property market.
According to JLL Research, total UK property investment reached £31.3 billion in 2023, a 36% decrease on 2022 volumes of £49.0 billion and 40% below the 10-year average of £51.8 billion. This represents the lowest annual total since 2012 when volumes reached £30.7 billion. The lack of transactional activity contributed to weak market sentiment across the property market, which has directly impacted our year-end valuations which have declined by 8.44% on a like for like basis, mitigated by active asset management and the diversity of our portfolio which gives access to the relatively stronger private investor market.
Throughout the year, and in accordance with previous years' strategy, we continued to break up sales in order to achieve premiums, mainly to private investors, owner occupiers and special purchasers as they were willing to pay higher sums. We expect private investors and companies less reliant on finance will continue to seek opportunities at levels below £1 million or less and we will continue to benefit from this position.
Interest rate cuts and lower inflation would support real income growth and this would likely trigger a gradual improvement in market sentiment and economic activity. We are already seeing signs of traditional institutional investors returning to the market, which will bring a wider audience for sales, greater activity, appetite for larger lot sizes and improved valuations.
REI Portfolio Disposals
Our unique regional network of agent contacts and close proximity to owner occupiers allows access to more non-traditional purchasers and during the year, we disposed of 30 units/assets with an average lot size of £600,000, for a combined consideration of £17.97 million at an aggregate 2.93% uplift to December 2022 book valuations (pre-costs).
The sales comprised break-ups of retail/leisure units at Alcester Road South, Acocks Green, Leamington Spa, Redditch, Newcastle Under Lyme and Walsall. However, they also included the sale of Land at Market Shopping Centre in Crewe (McDonalds), York House in Birmingham (to a college), and Castlegate House in Dudley (West Midlands Police). It is therefore worth noting that around 53% of sales (by value) can be accredited to smaller units sales, and around 47% of sales (by value) were from the individual asset sales, all of which were bought by owner occupiers for their own purposes.
기간 종료 후 폐기
Since 31 December 2023, we have completed a further £1 million of disposals at Barracks Road, Newcastle-under-Lyme to an owner occupier.
At present, we have disposal transactions that are in solicitors' hands, with several completions expected before the conclusion of H1 2024. We have additional sales being actively marketed and we have earmarked further assets for sale, where management initiatives have been concluded and are now ready for marketing. Staying agile and responsive to evolving market conditions will be key to successfully executing this strategy throughout the coming year. However, we intend to make further opportunistic sales, should investor demand prevail.
REI 포트폴리오
The REI portfolio, comprising of 41 assets with 183 tenants has a net initial yield of 7.18% and a reversionary yield of 8.81%. Valuations have seen a decline of 8.44% on a like-for-like basis to £143.1 million (FY 2022: £156.3 million). It is management's intention to continue with asset management initiatives to maximise income, occupancy and capital value. The current portfolio sector weightings are:
부문 | Income by Sector (£) | Income by Sector (%) |
Office | 4,968,850 | 45.42% |
전통적인 소매 | 1,480,039 | 13.53% |
할인 소매 - 파운드랜드/B&M 등 | 1,274,000 | 11.65% |
의료 및 제약 - Boots/Holland & Barrett 등 | 652,649 | 5.97% |
Restaurant/Bar/Coffee - Costa Coffee etc | 423,751 | 3.87% |
Financial/Licences/Agency - Bank of Scotland etc | 216,500 | 1.97% |
Food Stores - Co-op, Iceland etc | 406,545 | 3.72% |
Other - Hotels (Travelodge & Vine Hotels), Leisure (The Gym Group & Luxury Leisure), Car parks, AST | 1,517,306 | 13.87% |
금액 | 10,939,640 | 100% |
자산 관리 시스템
During 2023, the asset management team completed 90 lease events. New lettings during the year totalled just over £500,000 p.a. with lettings at Titan House (Telford) and Venture Court (Wolverhampton), being prominent.
As a result of the asset management activity in 2023 our WAULT was 5.24 years to break and 6.01 years to expiry (FY 2022: 4.98 years & 6.29 years) and occupancy is stable at 83.03% (FY 2022: 84.54%).
Of the 16.97% vacancy as at 31 December 2023 within the portfolio, almost two thirds (10.72%) can be attributed to spaces at 4 properties (Barracks Road, Newcastle-under-Lyme; Crewe Shopping Centre; Kingston House and Birch House). We have already reduced this void in the period since 31 December 2023, with the sale of Units 1&2 at Barracks Road, increasing occupancy to 84.98% (as 25 March 2024). The scheduled letting at Oldbury and further sales will improve occupancy in H1 2024.
Key asset management initiatives undertaken during the year and subsequently to the date of this report include:
Titan House
Following the refurbishment of the office space to a Grade A specification and the letting to BohoMoon Limited at £111,145 p.a., SpaMedica Limited completed the lease for the third floor at £112,779 p.a. on a 10-year lease with a tenant break in year 5.
올드 버리
DHU Health Care CIC signed the Agreement for Lease at £625,608 p.a. to facilitate the move into all the 35,749 sq ft at Birch House. The refurbishment commenced and is due to complete in April 2024.
Avon House
AFH Financial Group Limited took out a new lease for 11.5 years at the passing rent of £396,077 p.a. (at ERV) with no break, now occupying all 25,000 sq ft at Avon House, Bromsgrove.
에이콕스 그린
Following a number of sales, the previous Argos unit was refurbished and let to Poundstretcher on a 10-year lease at £62,500 p.a. with a tenant break at year 5.
월솔
Following a lengthy planning process, Luxury Leisure signed a lease and undertook a tenant fit-out of 9-11 Park Street on a 10-year lease at £60,000 p.a. with a break at year 5.
Topaz Business Park
Costa have signed an Agreement for Lease at £89,000 p.a. The forward sale of the Lease is proceeding, despite the challenges in the investment market. The contract to build the Costa unit has been secured with completion due in September 2024.
바운더리 하우스
The 2023 rent review has been settled, achieving an increase from £260,000 p.a. to £316,500 p.a., representing a very strong result in a challenging office market.
2023년 포트폴리오의 새로운 테넌트
SpaMedica Limited, Luxury Leisure and Swarco Smart Charging Limited.
기간 종료 후 활동 및 감정
There is a strong level of pipeline lettings of £803,107 p.a. (gross) (£529,471 p.a. net) that will have a positive impact on our void space and contracted rental income.
포트폴리오 요약
가치(£) | Area (Sq ft) | 약정 임대료(£) | ERV (£) | NIY(%) | EQY(%) | RY (%) | 점유율 (%) | |
포트폴리오
| 143,105,000 | 1,239,467 | 10,939,640 | 13,701,260 | 7.18% | 8.89% | 8.81% | 83.03% |
나라*
| 2,394,594 | - | - | - | - | - | - | - |
금액
| 145,499,594 | 1,239,467 | 10,939,640 | 13,701,260 | 7.18% | 8.89% | 8.81% | 83.03% |
*당사가 보유하고 있는 토지는 수익률 계산에서 제외됩니다.
환경, 사회 및 거버넌스("ESG")
REI is now working alongside Systemslink, (a leading energy management software provider), to collect, track and report carbon emissions data across REI's landlord-controlled areas. As at the date of this report, accurate and certified data for the Scope 1 and 2 emissions for 2021-2022 is unavailable, as this is being verified. The reduction of the portfolio's carbon footprint is a priority for the business.
포트폴리오 에너지 성능 인증
In accordance with government guidelines, REI has undertaken a programme to ensure our assets meet the UK statutory regulations and timeframes for EPCs. We will continue to upgrade assets when required.
An overview of the asset EPC ratings across the portfolio is noted below:
포트폴리오 비율(평방피트 기준)
| ||||||||
EPC 등급 |
A |
B |
C |
D |
E |
F |
G |
금액 |
31 12 월 2023 | 2.25 | 36.88 | 22.71 | 35.13 | 3.03 | 0 | 0 | 100 |
31 12월 2022 | 1.36 | 22.99 | 31.18 | 37.49 | 6.98 | 0 | 0 | 100 |
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In a year in which we disposed of £17.97 million of assets, the underlying profit before tax decreased by 2% to £4.5 million (FY 2022: £4.6 million). Despite the reduction in turnover, mainly due to sales, the Group maintained underlying profit by a reduction in holding costs (£260,000), administrative expenses (£640,000) and interest costs (£610,000), resulting in an EPRA EPS of 2.6p (FY 2022: 2.7p).
The loss before tax was £9.4 million (FY 2022: £10.9 million profit), including a revaluation deficit of £13.2 million on investment properties (FY 2022: gain of £3.2 million), a deficit of £182,000 on the sale of investment property (FY 2022: gain of £948,000) and a loss in the market value of our interest rate hedging instruments of £499,000 (FY 2022: gain of £2.2 million). As a result, the EPRA NTA per share reduced by 11.7% to 54.9p (2022: 62.2p).
Receipts from disposals during the period were used to repay £17.1 million of debt in line with our stated strategy, reducing total drawn debt to £54.4 million (FY 2022: £71.5 million) with LTV (net of cash) improved to 32.4% (FY 2022: 36.8%). REI repaid its Aviva facility in full and remains banked with 3 lenders. All banking covenants continue to be met and there is headroom available with cure facilities in place.
As expected, contracted rental income reduced during the period to £10.9 million (FY 2022: £12.6 million) predominantly due to disposals, with some reduction due to lease events across the portfolio. Occupancy levels remained robust at 83.03%. The loss of contracted rental income, whilst predicted, has led to a reduction in revenue to £11.5 million (FY 2022: £13.3 million). Our like-for-like rental income reduced to £10.9 million p.a (FY 2022: £11.1 million p.a.).
Despite a reduction in our revenue due to disposals, dividend payments continued throughout the period, at a level of 0.625p per share for Q1, Q2 and Q3, all fully covered. The final dividend in respect of 2023 is confirmed as 0.625p per share, reflecting a total fully-covered dividend payment for 2023 of 2.5p (FY 2022: 2.5p).
31 12월 2023 | 31 12월 2022 | |
총자산 | 원 145.5 만 | 원 175.4 만 |
세전 기본 이익 | 원 4.5 만 | 원 4.6 만 |
세전(손실)/이익 | (9.4만 파운드) | 원 10.9 만 |
수익 | £ 11.5 백만 | 원 13.3 만 |
에프라 EPS | 2.6p | 2.7p |
주당 EPRA NTA | 54.9p | 62.2p |
순자산 | 원 95.6 만 | 원 109 만 |
가치에 대한 대출 | 38.0% | 42.2% |
순현금 가치에 대한 대출 | 32.4% | 36.8% |
평균 부채 비용 | 3.7% | 3.7% |
주당 배당금 | 2.5p | 2.5p |
유사 임대 소득 | 원 10.9 만 | 원 11.1 만 |
유사 자본 가치 psf | £115.46psf | £126.10psf |
유사 가치 평가 | 원 143.1 만 | 원 156.3 만 |
Results For the Year
The loss before tax of £9.4 million (FY 2022: £10.9 million profit), includes a revaluation deficit of £13.2 million on investment properties (FY 2022: gain of £3.2 million), a deficit of £182,000 on the sale of investment property (FY 2022: gain of £948,000) and a deficit on the market value of our interest rate hedging instruments of £499,000 (FY 2022: gain of £2.2 million). Underlying profits reduced to £4.5 million (FY 2022: £4.6 million).
Due to a loss of income during the year of £1.8 million p.a. (in the main due to loss of income associated with sales combined with other expected lease events) revenues for the year decreased to £11.5 million (FY 2022: £13.3 million). However, this was partly offset by a reduction in holding costs of void space and direct costs to £2.2 million (FY 2022: £2.5 million).
During the year, administrative costs and overhead expenses reduced by £640,000 to £2.6 million (FY 2022: £3.3 million), mainly due to no bonuses for executive directors and staff (FY 2022: £280,000), no provision for costs of the LTIP (FY 2022: £150,000), following the Group strategic review and introduction of the STIP and targeting services no longer required as the size of the portfolio reduces. The Group expects further savings in 2024 of £500,000.
The Group prioritised the repayment of debt from the proceeds of sale of investment property and as a result, interest costs for the year reduced by £600,000 to £2.4 million (FY 2022: £3 million) due to £17.1 million debt repayment during the year.
(Loss)/earnings per share were:
Basic: (5.4)p (FY 2022: 6.3p)
Diluted: (5.4)p (FY 2022: 6.3p)
EPRA: 2.6p (FY 2022: 2.7p)
Shareholders' funds decreased to £95.6 million at 31 December 2023 (FY 2022: £109 million) primarily as a result of the loss on property portfolio revaluation.
Basic NAV: 55p (FY 2022: 63.1p)
EPRA NTA: 54.9p (FY 2022: 62.2p)
전략
The Board concluded that it will conduct an orderly strategic sale of the Company's portfolio over the next 3 years with the objective of maximising the return of capital to shareholders (the "Disposal Strategy"). To achieve this outcome, assets will be sold individually, as smaller portfolios or as a whole portfolio sale, with the initial priority to repay the Company's debt. The pace of disposals will be dictated by market conditions and management will look to secure disposals at book value or higher, maximising returns to shareholders.
Shorter Term Incentive Plan ("STIP")
처분 전략과 주주에 대한 자본 반환을 지원하기 위해 회사는 새로운 단기 인센티브 계획("STIP")을 시행하고 있습니다. STIP는 기존 장기 인센티브 계획("LTIP")을 대체하고 CEO인 Paul Bassi와 재무 이사인 Marcus Daly("임원")와 더 넓은 경영진을 유지하는 데 도움을 주고 그들이 질서 있는 목표를 달성하도록 장려합니다. 주주들에게 자본 수익을 극대화하기 위해 회사 자산을 적시에 처분합니다. The STIP is being implemented to compensate the Executives for the retrospective reduction in awards and cancellation of future awards under the LTIP.
1. STIP에 따라 참가자는 회사의 시장 가치를 초과하는 총 주주 수익률("TSR") 초과("이득")에서 생성되는 명목상의 현금 풀("풀")의 일부를 받게 됩니다. 31년 2023월 XNUMX일.
2. TSR은 보통주 배당금을 제외하고 주주에게 반환된 보통주당 현금입니다.
3. 자산의 적시 처분을 보장하기 위해 풀에 귀속되는 이익은 시간이 지남에 따라 감소됩니다.
4. 회사의 매도 전략이 2024년에 완료되면 풀은 이익의 10%로 계산됩니다. 2025년에 전략이 완료되면 풀은 7.5%로 감소하고, 2026년까지 풀은 5%로 감소합니다.
5. 풀 중 최소 £410는 경영진(임원 제외)에게 100% 급여에 해당하는 보너스로 지급됩니다.
6. STIP은 (1) 모든 자산의 매각, (2) 회사의 인수 또는 (3) 보상위원회가 자산의 충분한 비율이 결정된 경우 중 가장 빠른 시점 이후 합리적으로 실행 가능한 한 빨리 지급합니다. 판매되었으며 STIP이 원래 목적을 달성했음을 의미합니다.
Revised Remuneration Policy (Effective 1 January 2024)
또한, 회사 보상위원회는 정책을 보다 광범위한 회사 전략에 맞추기 위해 임원 보상 변경을 승인했습니다.
1. 기본 급여: 임원 연봉을 367분의 550로 삭감합니다. 새로운 급여 - CEO인 Paul Bassi는 £229(이전 £344)로 감소하고 CFO인 Marcus Daly는 £330(이전 £XNUMX)로 감소하여 약 £XNUMX(국가 보험 기여금 포함)의 비용을 절감했습니다. 아울러 사외이사 보수도 XNUMX분의 XNUMX로 인하된다.
2. 연간 임의 보너스: 임원 보너스는 기본급의 최대 100%에서 신규 감소된 기본급의 최대 50%까지 감소됩니다.
3. 임원 서비스 계약: 기업 거래 또는 그에 상응하는 거래 후에 계약금을 지급해야 하는 경우 임원 서비스 계약에 따른 보상은 이전 급여 수준으로 되돌아갑니다.
4. LTIP 수상 내역: 회사의 기존 LTIP 제도에 따른 임원의 수상 자격은 다음과 같이 수정되었습니다.
· 2020 회계연도에 부여된 미투자 보상 - XNUMX/XNUMX로 축소
· 2021 회계연도에 부여된 미투자 보조금 - XNUMX/XNUMX로 축소됩니다.
· 2022 회계연도에 부여된 미투자 보상 - 취소 예정
· 앞으로는 LTIP에 따라 더 이상 보상이 제공되지 않습니다.
· 보상 감소의 대략적인 가치는 약 4만 보통주에 해당하며, 이는 주가 30p로 1.2만 파운드에 해당합니다.
5. 단기 인센티브 계획("STIP"): FY2020 및 FY2021과 관련된 LTIP의 소급 감소, FY2022와 관련된 보상 취소 및 FY2023과 관련하여 또는 앞으로 LTIP에 따른 보상이 더 이상 발행되지 않는 것에 대해 (동일한 정도는 아니지만) 경영진에게 보상하기 위해, 임원은 STIP에 참여할 자격이 있습니다.
금융과 은행
Due to significant sales in 2023 of £17.97 million and debt repayment of £17.1 million, total drawn debt at 31 December 2023 was £54.4 million (FY 2022: £71.5 million) (now reduced further to £51.7 million post period end) with the Aviva facility repaid in full. As at 31 December 2023, the Group had £8 million cash at bank and remains multi-banked across 3 lenders and continues to meet banking covenants.
Up until the end of November 2023,100% of the debt across the portfolio was fixed, preserving a low average cost of debt at 3.7%. However, the fixed rate hedges on our debt expired on 30 November 2023 on £10 million for Lloyds Banking Group, 29 December 2023 for Barclays Bank and 1 March 2024 for National Westminster Bank. As a result, following the multiple increases in interest rates by the Bank of England, the new average rate of bank interest is 6.5%. It is the Group's intention to prioritise the repayment of debt from property sales proceeds.
Whilst management focuses on debt repayment, it is prudent to keep cash reserves at a healthy level, should the business be required to provide bank security in the form of cash. The Company continues to maximise its returns on cash reserves, with £8 million cash at bank at the year end with the majority on deposit earning 4.5% 즉각적인 접근을 기반으로 합니다.
The LTV as at 31 December 2023 was 38% (FY 2022: 42.2%) and the LTV (net of cash) was 32.4% (FY 2022: 36.8%). The Group's hedge facility suffered a loss of £499,000 for the year to 31 December 2023.
대주 | 부채 편익(£m) | 부채 만기 |
내셔널 웨스트민스터 은행 | 28 | 2025년 유월 |
Lloyds Banking Group | 20 | 2025년 XNUMX월 |
클레이 | 7 | 2025년 유월 |
재 융자
In March 2024, the Group extended the £20 million facility with Lloyds Banking Group Plc for a further 12 months to 31 May 2025, the £28 million facility with National Westminster Bank Plc for a further 12 months to June 2025 and the £7 million facility with Barclays Bank PLC for a further 6 months to 30 June 2025. The facilities have been extended on short term bases as it is the Group's intention to prioritise the repayment of debt from the sale of properties.
관심가는
연결실체의 연결재무제표는 계속기업을 기준으로 작성되었습니다.
과세
The Group converted to a Real Estate Investment Trust (REIT) on 1 January 2015. Under REIT status the Group does not pay tax on its rental income profits or on gains from the sale of investment properties. The Group continues to meet all REIT requirements for REIT status.
피제수
Under the REIT status the Group is required to distribute at least 90% of rental income taxable profits arising each financial year by way of a Property Income Distribution. Quarterly dividends commenced in 2016.
Despite a loss of income during the period associated with portfolio disposals, the Company's dividend payments continued uninterrupted with the first three quarterly dividend payments in respect of 2023 paid at a level of 0.625p per share, fully covered and a final dividend in respect of 2023 confirmed as 0.625p per share. This reflects a total fully-covered uninterrupted dividend payment for 2023 of 2.5p (FY 2022: 2.5p) (the level of dividend for 2024 will be subject to the pace of further disposals), and a yield of 7.4% based on a mid-market opening price of 33.75p on 25 March 2024. This takes the total declared/paid to shareholders since the commencement of our dividend policy in 2012 to £50.6 million.
The dividend will be paid on 26 April 2024 as an ordinary dividend, to all shareholders on the register as at 5 April 2024 with an ex-dividend date of 4 April 2024. The Board remains committed to paying a covered dividend, subject to the rate at which assets are disposed of.
Marcus Daly, 재무 이사
월 25 2024
부동산 투자자 plc
연결포괄손익계산서
31년 2023월 XNUMX일로 종료되는 연도에 대해
주의 사항 | 2023 | 2022 | |
| £000 | £000 | |
| |||
수익 | 11,513 | 13,293 | |
| |||
매출원가 | (2,232) | (2,489) | |
매출 총 이익 | 9,281 | 10,804 | |
| |||
관리비 | (2,616) | (3,252) | |
(Deficit)/gain on sale of investment property | (182) | 948 | |
(Deficit)/gain in fair value of investment properties | (13,197) | 3,152 | |
(손실)/영업이익 | (6,714) | 11,652 | |
금융 수입 | 177 | 49 | |
금융 비용 | (2,371) | (2,981) | |
(Deficit)/gain on financial liabilities at fair value through profit and loss | (499) | 2,214 | |
| |||
(손실)/과세 전 일상 활동 이익 | (9,407) | 10,934 | |
| |||
소득세 부과금 | - | - | |
| |||
당기순이익/세후이익 및 총포괄손익 | (9,407) | 10,934 | |
| |||
Total and continuing (loss)/earnings per ordinary share |
| ||
Basic | 3 | (5.44:XNUMX)p | 6.33p |
희석 | 3 | (5.44:XNUMX)p | 6.25p |
에프라 | 3 | 2.59p | 2.68p |
The results of the Group for the year related entirely to continuing operations.
부동산 투자자 plc
연결자본변동표
31년 2023월 XNUMX일로 종료되는 연도에 대해
공유 자본 | 공유 프리미엄 계정 | 자본 구속 비축 |
| 잉여금 수입 | 금액 | |
£000 | £000 | £000 | £000 | £000 | £000 | |
1년 2022월 XNUMX일 | 17,938 | 51,721 | 749 | 759 | 33,855 | 105,022 |
공유 기반 지불 | - | - | - | 150 | - | 150 |
주식 환매 | (714) | - | - | - | (1,296) | (2,010) |
재자본 이전 | - | - | 714 | - | (714) | - |
이슈 공유 | 42 | 108 | - | (150) | - | - |
배당 | - | - | - | - | (5,131) | (5,131) |
소유자와의 거래 | (672) | 108 | 714 | - | (7,141) | (6,991) |
당기순이익 및 총포괄손익 | - | - | - |
- | 10,934 | 10,934 |
31년 2022월 XNUMX일 | 17,266 | 51,829 | 1,463 | 759 | 37,648 | 108,965 |
공유 기반 지불 | - | - | - | - | - | - |
이슈 공유 | 119 | 215 | - | (334) | - | - |
배당 | - | - | - | - | (4,000) | (4,000) |
소유자와의 거래 | 119 | 215 | - | (334) | (4,000) | (4,000) |
당기순이익 및 총포괄손익 | - | - | - | - | (9,407) | (9,407) |
31년 2023월 XNUMX일 | 17,385 | 52,044 | 1,463 | 425 | 24,241 | 95,558 |
부동산 투자자 plc
연결재무상태표
31년 2023월 XNUMX일
주의 사항 | 2023 | 2022 | |
| £000 | £000 | |
자산 | |||
비유류 | |||
무형 자산 | - | - | |
투자 자산 | 4 | 143,105 | 173,030 |
재산, 식물 및 장비 | 2 | 3 | |
143,107 | 173,033 | ||
Current |
| ||
재고 | 2,395 | 2,389 | |
매출 채권 및 기타 채권 | 2,550 | 3,110 | |
파생금융자산 | - | 68 | |
현금 및 현금성 자산 | 7,981 | 7,818 | |
12,926 | 13,385 | ||
| |||
총자산 | 156,033 | 186,418 | |
부채 |
| ||
Current |
| ||
은행 대출 | (54,407) | (20,325) | |
매입 채무 및 기타 채무 | (5,637) | (5,982) | |
(60,044) | (26,307) | ||
비유류 |
| ||
은행 대출 | (-) | (51,146) | |
파생 금융 부채 | (431) | - | |
(431) | (51,146) | ||
총 부채 | (60,475) | (77,453) | |
| |||
순자산 | 95,558 | 108,965 |
공평 |
| ||
주식 자본 | 17,385 | 17,266 | |
프리미엄 계정 공유 | 52,044 | 51,829 | |
자본상환준비금 | 1,463 | 1,463 | |
주식기준보상준비금 | 425 | 759 | |
이익 잉여금 | 24,241 | 37,648 | |
| |||
총 자본 | 95,558 | 108,965 | |
주당 순자산 |
55.0p | 63.1p |
부동산 투자자 plc
연결현금흐름표
31년 2023월 XNUMX일로 종료되는 연도에 대해
2023 | 2022 |
| ||||
| £000 | £000 |
| |||
영업 활동으로 인한 현금 흐름 |
| |||||
(손실)/과세 후 이익 | (9,407) | 10,934 | ||||
다음에 대한 조정 : |
| |||||
감가 상각 | 1 | 2 | ||||
Net deficit/(gain) on valuation of investment property | 13,197 | (3,152) | ||||
Deficit/(gain) on sale of investment property | 182 | (948) | ||||
공유 기반 지불 | - | 150 | ||||
금융 수입 | (177) | (49) | ||||
금융 비용 | 2,371 | 2,981 | ||||
Loss/(gain) on financial liabilities at fair value through profit and loss | 499 | (2,214) | ||||
재고 증가 | (6) | (5) | ||||
매출채권 및 기타수취채권의 감소 | 560 | 478 | ||||
거래 및 기타 미지급금의 감소 | (624) | (1,051) | ||||
6,596 | 7,126 | |||||
투자 활동으로 인한 현금 흐름 |
| |||||
투자부동산에 대한 지출 | (733) | (609) | ||||
부동산, 플랜트 및 장비 구매 | (-) | (1) | ||||
투자부동산 매각대금 | 17,279 | 20,164 | ||||
받은이자 | 177 | 49 | ||||
16,723 | 19,603 | |||||
금융 활동으로 인한 현금 흐름 |
| |||||
이자 지급 | (2,371) | (2,981) | ||||
주식 환매 | - | (2,010) | ||||
배당금 지급 | (3,721) | (5,783) | ||||
은행 대출금 지불 | (17,064) | (17,973) | ||||
(23,156) | (28,747) | |||||
| ||||||
현금및현금성자산의 순증가/(감소) | 163 | (2,018) | ||||
기간 초기 현금 및 현금성 자산 | 7,818 | 9,836 | ||||
기말의 현금 및 현금성 자산 | 7,981 | 7,818 | ||||
참고 사항 :
현금및현금성자산은 보유현금과 은행잔고로만 구성됩니다.
부동산 투자자 plc
사전 공지 사항 참고
31년 2023월 XNUMX일로 종료되는 연도에 대해
1. 준비의 기초
The financial statements have been prepared under the historical cost convention, except for the revaluation of properties and financial instruments held at fair value through profit and loss, and in accordance with international accounting standards in conformity with the requirements of the Companies Act 2006.
재무제표 작성에는 회계추정 및 가정이 사용된다는 점에 유의해야 합니다. 이러한 추정치는 현재 사건과 조치에 대한 경영진의 최선의 지식과 판단에 기초하고 있지만 실제 결과는 이러한 추정치와 다를 수 있습니다. 더 높은 수준의 판단이나 복잡성이 포함된 영역, 재무제표에 중요한 가정과 추정이 포함된 영역은 그룹의 연차보고서와 재무제표에 명시되어 있습니다.
연결재무제표는 당사와 그 종속기업의 매년 31월 XNUMX일까지의 재무제표를 포함하고 있습니다. 그룹 내 중요한 잔액과 거래, 그리고 그룹 내 거래에서 발생한 미실현 이익은 연결 시 제거됩니다. 거래가 이전된 자산의 손상에 대한 증거를 제공하지 않는 한 미실현 손실도 제거됩니다.
주요 회계 정책은 그룹의 연례 보고서와 재무제표에 자세히 설명되어 있습니다.
관심가는
The Group has prepared and reviewed forecasts and made appropriate enquiries which indicate that the Group has adequate resources to continue in operational existence for the foreseeable future, being a period of 12 months from the date of approval of these financial statements to 31 March 2025. These enquiries considered the following:
· the significant cash balances the Group holds and the low levels of historic and projected operating cash outflows
· 모든 부동산 구매는 해당 구매를 완료하는 데 필요한 현금 자원이나 대출이 가능한 경우에만 완료됩니다.
· the Group's bankers have indicated their continuing support for the Group. In March 2024 the Group extended the £20 million facility with Lloyds Banking Group Plc for 12 months to 31 May 2025.
· In March 2024 the Group extended the facility of £28 million with National Westminster Bank PLC by a further 12 months to June 2025.
· In March 2024 the Group extended the facility of £7 million with Barclays Bank PLC by a further 6 months to 30 June 2025.
· The directors have at the time of approving these financial statements, a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future being a period of not less than 12 months from the date of approval of these financial statements.
이러한 이유로 이사들은 재무제표 작성 시 계속기업 기준을 계속해서 채택하고 있습니다.
2. 매출총이익
2023 | 2022 | |
£000 | £000 | |
| ||
Revenue Rental income | 10,919 | 12,725 |
보험료 포기 | 594 | 568 |
11,513 | 13,293 | |
| ||
Cost of sales Direct costs | (2,232) | (2,489) |
매출 총 이익 | 9,281 | 10,804 |
3. 주당순이익
주당 순이익 계산은 세후 연도의 결과와 해당 연도의 가중 평균 발행 주식 수를 기준으로 합니다.
계산에 사용된 수익 및 가중 평균 주식 수의 조정 내용은 아래에 설명되어 있습니다.
2023 | 2022 | |||||
수입 | 평균 수 주식 | 당 수입 공유 |
수입 | 평균 수 주식 | 수입 1 주당 | |
£000 |
|
| £000 | |||
|
|
| ||||
기본(손실)/주당순이익 | (9,407) | 172,909,757 | (5.44:XNUMX)p | 10,934 | 172,651,577 |
6.33p |
주식선택권의 희석효과 | - | - | - | - | 2,312,675 | - |
희석 주당 이익 | (9,407) | 172,909,757 | (5.44:XNUMX)p | 10,934 | 174,964,252 | 6.25p |
아래의 유럽공공부동산협회 지수는 그룹과 부동산 부문의 다른 사업 간의 보다 효과적인 비교를 가능하게 하기 위해 재무제표에 포함되었습니다.
EPRA 주당 EPS
| 2023 | 2022 | ||||
수입 | 공유 | 수입 주당 |
수입 | 공유 | 수입 1 주당 | |
£000 | 아니 | p | £000 | 아니 | P | |
|
|
| ||||
기본(손실)/주당순이익 | (9,407) | 172,909,757 | (5.44) | 10,934 | 172,651,577 | 6.33 |
Net deficit/(gain) on valuation of investment properties | 13,197 |
|
| (3,152) | ||
Deficit/(gain) on disposal of investment properties | 182 |
|
| (948) | ||
Loss/(gain) in fair value of derivatives | 499 | (2,214) | ||||
EPRA 주당 순이익 | 4,471 | 172,909,757 | 2.59 | 4,620 | 172,651,577 | 2.68 |
주당 순자산 가치
그룹은 1년 2020월 XNUMX일부터 시작되는 회계 기간에 발효되는 새로운 EPRA NAV 조치를 채택했습니다. EPRA는 NAV 측정 정의에 대한 재무 지침에 대한 새로운 모범 사례 권장 사항(BPR)을 발표했습니다. BPR에 설명된 새로운 NAV 측정값은 EPRA 순 유형 자산(NTA), EPRA 순 재투자 가치(NRV) 및 EPRA 순 처분 가치(NDV)입니다.
그룹은 EPRA 순유형자산(NTA)을 그룹에 가장 관련성이 높은 NAV 측정값으로 간주했으며 이제 이전에 보고된 EPRA NAV 및 EPRA NNNAV 측정항목을 대체하여 이를 기본 NAV 측정값으로 보고하고 있습니다. EPRA NTA는 실현 가능성이 낮은 무형자산과 부채 관련 파생상품의 누적 공정가치 조정을 제외합니다.
31 12월 2023 | |||
에프라 NTA | 에프라 NRV |
에프라 NDV | |
£'000 | £'000 | £'000 | |
|
|
| |
순자산 | 95,558 | 95,558 | 95,558 |
파생 상품의 공정 가치 | 431 | 431 | - |
부동산 양도세 | - | 8,586 | - |
에프라 NAV | 95,989 | 104,575 | 95,558 |
주당 희석 및 EPRA 순자산에 대해 발행된 보통주 수 | 174,702,476 | 174,702,476 | 174,702,476 |
주당 EPRA NAV | 54.9p | 59.8p | 54.7p |
위의 EPRA NAV 조치를 달성하기 위해 조정된 내용은 다음과 같습니다.
? Real estate transfer tax: Gross value of property portfolio as provided in the Valuation Certificate (i.e. the value prior to any deduction of purchasers' costs).
? Fair value of derivatives: Exclude fair value financial instruments that are used for hedging purposes where the company has the intention of keeping the hedge position until the end of the contractual duration.
31 12월 2022 | |||
에프라 NTA | 에프라 NRV |
에프라 NDV | |
£'000 | £'000 | £'000 | |
|
|
| |
순자산 | 108,965 | 108,965 | 108,965 |
파생 상품의 공정 가치 | (68) | (68) | - |
부동산 양도세 | - | 11,245 | - |
에프라 NAV | 108,897 | 120,142 | 108,965 |
주당 희석 및 EPRA 순자산에 대해 발행된 보통주 수 | 174,964,252 | 174,964,252 | 174,964,252 |
주당 EPRA NAV | 62.2p | 68.7p | 62.3p |
3 Earnings per share (continued)
31 12월 2023 주식수 | 31 12월 2022 주식수 | |
|
| |
기말 발행보통주식수 | 173,844,434 | 172,651,577 |
옵션의 희석 효과 |
858,042 | 2,312,675 |
주당 희석 및 EPRA 순자산에 대해 발행된 보통주 수 |
|
|
174,702,476 | 174,964,252 | |
보통주당 순자산 |
|
|
에프라 NTA | 54.9p | 62.2p |
에프라 NRV | 59.8p | 68.7p |
에프라 NDV | 54.7p | 62.3p |
4. 투자부동산
투자부동산은 임대수익과 시세차익을 위해 보유하는 부동산입니다.
연결재무제표에 표시되는 기간의 투자부동산 장부금액은 다음과 같습니다.
£000 | ||
1년 2022월 XNUMX일 현재 장부금액 | 188,485 | |
추가 - 후속 지출 | 609 | |
폐기 | (19,216) | |
공정가치 변동 | 3,152 | |
31년 2022월 XNUMX일의 장부 금액 | 173,030 | |
추가 - 후속 지출 | 733 | |
폐기 | (17,461) | |
공정가치 변동 | (13,197) | |
31년 2023월 XNUMX일의 장부 금액 |
| 143,105 |
5. 출판
XNUMXD덴탈의 본 예비 발표에 명시된 재무 정보는 434년 회사법 제2006조에 정의된 법정 계정을 구성하지 않습니다. 31년 20월 XNUMX일의 연결 재무상태표23 그리고 당시로 종료되는 연도의 연결포괄손익계산서, 연결자본변동표, 연결현금흐름표 및 관련 주석은 감사의견이 적정한 연결실체의 재무제표에서 추출되었으며, 해당 주석은 포함되지 않습니다. 498년 회사법 제2006조에 따른 모든 진술. 31년 20월 XNUMX일에 종료된 회계연도의 법정 회계23 회사의 연례 총회 이후 회사 등록 기관에 전달됩니다.
6. 공지사항 사본
이 발표문의 사본은 회사 사무실(2시)에서 받으실 수 있습니다.nd Floor, 75-77 Colmore Row, Birmingham, B3 2AP 및 회사 웹사이트: www.reiplc.com. The report and accounts for the year ended 31 December 2023 are available from the Company's website and will be posted to shareholders in April 2024.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.