REG - Sirius Real Estate - Trading Statement

Sirius Real EstateAnnouncement

07/06/2022 07:00

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RNS Number : 8942N  Sirius Real Estate Limited  07 June 2022

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

7 June 2022

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius" or the "Company")

Trading Statement

 

 

Sirius Real Estate, the leading owner and operator of branded business and
industrial parks providing conventional space and flexible workspace in
Germany and the UK, announces that it expects its total dividend for the full
year ending 31 March 2022 to be between 4.389 cents and 4.427 cents per
share, representing an increase of between 15.5% and 16.5% compared to the
total dividend of 3.800 cents per share reported for the financial year ended
31 March 2021. This expected increase is predominantly due to an increase in
funds from operations for the financial year ended 31 March 2022.

 

This disclosure has been announced in line with JSE Limited Listings
Requirements, pursuant to which the Company is required to publish a trading
statement as soon as it becomes reasonably certain that the distribution per
share for the next period to be reported on will differ by 15% or more from
the distribution per share for the prior corresponding period.

 

The financial information on which this trading statement is based has not
been reviewed or reported on by the auditor of the Company. The audited
results for the financial year ended

31 March 2022 are expected to be published on 13 June 2022.

 

For further information:

Sirius Real Estate

Andrew Coombs, CEO / Diarmuid Kelly, CFO / Alistair Marks, CIO

+49 (0) 30 285010110

 

FTI Consulting (Financial PR)

Richard Sunderland / James McEwan / Talia Jessener

+44 (0) 20 3727 1000

SiriusRealEstate@fticonsulting.com (mailto:SiriusRealEstate@fticonsulting.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of the UK version of EU
Regulation No. 596/2014 as it forms part of UK domestic law and as defined in
the European Union (Withdrawal) Act 2018 ("UK MAR").

 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main market and premium segment of
the London Stock Exchange and the main board of the JSE Limited.  It is a
leading operator of branded business parks providing conventional space and
flexible workspace in Germany and the UK. The Company's purpose is to create
and manage optimal workspaces that empower small and medium-sized businesses
to grow, evolve and thrive. Sirius seeks to unlock the potential of its
people, its properties, and the communities in which it operates, so that
together we can create sustainable impact, and long-term financial and social
value.

The Company's core strategy is the acquisition of business parks at attractive
yields, the integration of these business parks into its network of sites
under the Company's own name as well as offering a range of branded products
within those sites, and the reconfiguration and upgrade of existing and vacant
space to appeal to the local market, through intensive asset management and
investment. The Company's strategy aims to deliver attractive returns for
shareholders by increasing rental income and improving cost recoveries and
capital values, as well as by enhancing those returns through financing its
assets on favourable terms. Once sites are mature and net income and values
have been optimised, the Company may take the opportunity to refinance the
sites to release capital for investment in new sites or consider the disposal
of sites in order to recycle equity into assets which present greater
opportunity for the asset management skills of the Company's team.

Sirius also has a venture with clients represented by AXA IM Alts. Titanium
was formed through the acquisition by AXA IM Alts, on behalf of its clients,
from Sirius, of a 65% stake in five business parks across Germany. Sirius
retained the remaining 35%. The venture seeks to grow primarily through the
acquisition of larger stabilised business park assets and portfolios of assets
with strong tenant profiles and occupancy. As well as its equity interest,
Sirius acts as operator of the assets in the venture, on a fee basis. Sirius
will continue to grow its wholly owned portfolio through acquisitions of more
opportunistic assets, where it can capitalise on its asset management
expertise to maximise utilisation of the space, grow occupancy and improve
quality of the tenants. The strategies have been clearly defined so that the
venture does not conflict with Sirius's existing business.

In November 2021, Sirius Real Estate announced and completed the acquisition
of BizSpace, a leading provider of regional flexible workspace in the UK.
BizSpace offers light industrial, workshop, studio and out of town office
units to a wide range of businesses across the UK and the acquisition
therefore provided Sirius with a unique opportunity to immediately enter, with
scale, an under-served new market through a one-step acquisition of an
established platform. It provides Sirius with a high-quality portfolio,
offering significant organic growth potential in rental pricing in a UK market
characterised by supply constraints. The BizSpace business is also highly
complementary to Sirius' existing platform, allowing for meaningful
operational and financial synergies to drive value creation for Sirius
shareholders.

For more information, please visit: www.sirius-real-estate.com

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on Twitter at @SiriusRE

JSE Sponsor

PSG Capital

 

 

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