2021年结果
我们的2021年临时结果于9月9日宣布。
使用下面的链接下载视图的公告和演示。
2021年结果
劳伦斯·哈钦斯（Lawrence Hutchings），首席执行官注释：
“自4月第三次全国性锁定以来，我们在业务中看到的动力非常令人鼓舞，并导致了我们今天能够报告的积极运营绩效，从而增强了我们对社区中心战略和质量的信念房地产和平台。
“Footfall at our community centres has once again significantly outperformed the wider market with a noticeable trend of consumers spending more and visiting slightly less. We have continued to see strong levels of leasing throughout the entire first half, with volumes comparable with H1 2019, supported by our increased focus on new, start up and independent retailers. This initiative also ensures our centres are tailored to the requirements of their communities and has helped us maintain occupancy at 90%, achieve rent and ERV premia, and make significant progress on re-leasing our three former Debenhams stores
“通过混合使用，将进一步的价值从投资组合中解锁是我们取得良好进展的另一个关键倡议，在我们的沃尔瑟姆斯托住宅项目的计划同意下，使我们更接近一笔可观的资本收入。亚博最新客户端我们对从高密度住宅中释放进一步价值并在我们的资产基础上使用多元化的潜力的信心鼓励我们签订与远东财团（FEC）（FEC）探索两家业务的机会的地破碎合作伙伴协议。
“接受进一步下降的估值在the period, current market dynamics in the sector as well as the wider economy provide cause for optimism that the investment market may be starting to stabilise. This, allied with the relative outperformance of our Investment Assets and the improving operational performance, provide the necessary base for making longer term strategic decisions and determining the best approach for addressing debt levels. We appreciate the continued support from our lenders who we liaise closely with on our different non-recourse facilities, extending waivers as they are required and working towards longer term resolutions on a facility by facility basis.
“As we emerge from 18 months of unprecedented challenges we are increasingly confident that a shared need from consumers and retailers for well-located, accessible retail and services with affordable occupancy costs, is highly supportive of our community centre strategy and our belief in the 15 minute neighbourhood.
“我要感谢我们所有的利益相关者继续提供支持，尤其是我们的敬业团队，他们继续不懈地工作以确保我们的中心，这构成了社区基础设施的重要组成部分，这是安全的参观场所。”
Significant operational impact of Covid-19 mitigated by community centre strategy
- 我们正在进行的战略重点关注非危险的商品和服务，继续减轻此期间大流行的影响，其中包括2021年1月6日至2021年4月12日的全国性锁定
- 99% of leased units are back open and trading with all seven of the Company’s community shopping centres remaining open to some degree throughout the pandemic.
- Occupancy remained robust at 90% at 30 June 2021 (December 2020: 92%).
- Footfall outperformed the national index by 9.1%, with 18.3 million visits across the portfolio in the first half of 2021. While footfall continued to be significantly impacted by COVID-19 and slower to recover post lockdown, sales have bounced back at a higher rate reflecting more efficient use of visits.
- 截至8月底的2021年，租金的83％已收集，对2021年6月25日提供的更新进一步提高了13％。
- 54个新的租赁和续订在此期间以平均租金的合计合计，相比之下，在同等的2020年和2019年期间，分别为24和44笔交易。
- 自2021年6月30日以来，已经完成了30多个出租和续订。
- 净租金收入（NRI）减少了180万英镑至1340万英镑（2020年6月：15.2英镑1百万），主要是Covid-19的主要结果，将调整后的利润降低到230万英镑（2020年6月：460万英镑）。
- IFRS loss for the period of £41.3 million due primarily to a 7.5% fall in like-for-like property valuations (June 2020: 16% fall in property valuations and loss of £115.5 million).
- 沃尔瑟姆斯托（Walthamstow）的住宅和商业扩展的巨大势头，现在计划文件同意并释放正式同意。
- 在租赁Debenhams撤离的三个单位方面的良好进展，并完成合同或商定条款：
- Agreed lettings to create Job Centres in part of the Debenhams units at Blackburn and Ilford.
- Agreed terms with a national retailer to relocate into middle floor of Debenhams unit at Ilford.
- 暂时放任卢顿的全部Debenhams单位，以灵活的中期为基础。
- Snozone的利润为130万英镑（2020年6月：亏损40万英镑），直到2021年4月12日，英国运营已执行。根据流行保险政策的250万英镑回收率的支持，收回了140万英镑的增值税。在2021年2月收购后，马德里在Xanadú的滑雪坡行动完全集成并重塑为Snozone。
保持大量现金储备和灵活性
- As at 30 June 2021 the Group had total cash on balance sheet of £75 million, of which £56.8 million was maintained centrally outside of the collateral of any of the debt facilities, equivalent to more than one year’s Contracted Rent
- 每股净资产价值和每股EPRA NTA，分别为113p和117p（分别为2020年12月：150p和158p）
- Net LTV has increased to 72% (30 December 2020: 65%) or 61% excluding Managed Assets (30 December 2020: 56%)
- 分别签署了购物中心和伊尔福德的盟约豁免，分别截至2022年1月和2022年4月。任期延长了卢顿豁免，直到2022年1月。
| 6 months to 2021年6月 |
6 months to 2020年6月 |
年 2020年12月 |
|
|---|---|---|---|
| 净租金收入1 | £13.4m | 1520万英镑 | 341万英镑 |
| Adjusted Profit2 | 230万英镑 | 460万英镑 | 10030万英镑 |
| Adjusted Earnings per share2 | 2.1p | 4.4p | 9.5p |
| IFRS Loss for the period | £(41.3)m | £（115.5）M | £(203.4)m |
| Basic earnings per share | (36.9)p | (111.0)p | (188.3)p |
| 每股净资产价值（NAV） | 113p | 229p | 150p |
| EPRA NTA per share | 117p | 236p | 158p |
| 集体净债务 | 3.480亿英镑 | £348.2m | £345.1m |
Net debt to property value - Investment Assets and Central Operations3 - Total |
61% 72% |
49％ 57% |
56% 65％ |
笔记
1Comparatives for the six months to 30 June 2020 have been restated for the amended approach to IFRS 16 adoption as recognised in the financial statements for the year ending 30 December 2020. Variable lease payments which should not have been recognised as a liability under IFRS 16 have now been expensed as incurred. As a result Cost of Sales in the comparative has increased by £1 million (and hence NRI reduced), offset by an equivalent reduction in finance costs.
2Adjusted Profit and Adjusted Earnings per share are as defined in the Glossary. Adjusted Profit incorporates profits from operating activities and excludes revaluation of properties and financial instruments, gains or losses on disposal, exceptional items and other defined terms. A reconciliation to the equivalent EPRA and statutory measures is provided in Notes 3 and 6 to the condensed financial statements.
3Change in reporting segments
该小组在此期间对其可报告的细分市场进行了更改，以反映其购物中心资产的地位。
该集团已将以前称为购物中心的东西分为“购物中心 - 投资资产”和“购物中心 - 托管资产”。购物中心 - 在伊尔福德（Ilford）和购物中心贷款设施中纳入中心的投资资产，即布莱克本，梅德斯通，沃尔瑟姆斯托和伍德·格林。这些代表了该集团保留净权益的资产池，并专注于长期解决方案的贷款头寸解决方案，可能涉及以某种形式或形式进行进一步资本的投资。亚博最新客户端
“购物中心 - 托管资产”结合了Hemel Hempstead和Luton，在非追索性SPV结构中的当前债务价值超过了各自的财产价值，因此该集团具有负权益，因此投资的未来地位尚不确定。该组织已经确定，目前不足以治愈和/或偿还这些非追索权的设施的额外投资和/或偿还这些非追索权设施的额外投资。根据各种贷方的要求，该集团暂时继续管理这些资产，而与贷方一起探索了各种结果。
投资资产和中央运营包括该集团的房地产管理和Snozone业务。
使用替代性能度量（APM）
在整个结果声明中，我们使用一系列财务和非财务措施来评估我们的绩效。A number of the financial measures, including Adjusted Profit, Adjusted Earnings per share and the industry best practice EPRA (European Public Real Estate Association) performance measures, which have been updated during the year, are not defined under IFRS, so they are termed ‘Alternative Performance Measures’ (APMs). Management use these measures to monitor the Group’s financial performance alongside IFRS measures because they help illustrate the underlying performance and position of the Group. All APMs are defined in the Glossary and further detail on their use is provided within the Financial Review. A reconciliation to the equivalent statutory measures is provided in Notes 6 and 13 to the condensed financial statements.
For further information:
亚博最新客户端资本和地区:
Lawrence Hutchings, Chief Executive
Stuart Wetherly, Group Finance Director
电话：+44（0）20 7932 8000
FTI咨询：
理查德·桑德兰（Richard Sunderland）
克莱尔·图里（Claire Turvey）
Tel: +44 (0)20 3727 1000
Email: Capreg@fticonsulting.com