Sirius
  • €89.2m Total annualised rent roll
  • €62.2m Profit before tax
  • 1.82c per share Interim dividend
  • €29.1m Funds from Operations
  • €5.45c Basic earnings per share
  • €79.3m Total Revenue

Profit growth and increased dividend

  • Profit before tax in the six month period of €62.2 million (H1 2019: €79.7 million)
  • 7.4% growth in funds from operations to €29.1 million (H1 2019: €27.1 million)
  • 2.8% increase in dividend per share to 1.82c (H1 2019: 1.77c)

Valuation growth

  • NAV per share increased 5.0% to 81.18c (31 March 2020: 77.35c) with adjusted NAV per share increasing by 5.2% to 85.81c (31 March 2020: 81.54c)
  • 4.3% valuation increase in owned investment property to €1,229.7 million (31 March 2020: €1,179.5 million)

Strong enquiries and cash collection performance and significant firepower available

  • 97.3% cash collection rate with outstanding rent and service charge receivables for the six month period amounting to €1.9 million (excluding VAT)

  • Total enquiries up 17.4% on the same period last year and sales conversion rate of 13.4%
  • Notarised for acquisition an asset located in Norderstedt for €9.1 million due to complete in December 2020 and completed the disposal of the Weilimdorf asset which was held for sale as at 31 March 2020
  • Drew down the last tranche of the €50.0 million unsecured Schuldschein debt that has a blended interest rate of 1.6%, average maturity of 3.2 years and no amortisation  
  • Net LTV of 31.6% (31 March 2020: 32.8%), well within stated policy cap of 40%
  • Total cash balances of €128.4 million, of which €112.4 million is unrestricted providing significant firepower for a strong pipeline of acquisitions
  • Awarded AA MSCI ESG Rating in October 2020

 

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