REG - Sirius Real Estate - Trading Statement

Sirius Real EstateAnnouncement

31/05/2023 07:00

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RNS Number : 0825B  Sirius Real Estate Limited  31 May 2023

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

31 May 2023

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 ended 31 March 2023 to be between 5.566 cents and 5.794 cents per
share, representing an increase of between 26.2% and 31.4% compared to the
total dividend of 4.410 cents per share declared in respect of the financial
year ended 31 March 2022. This expected increase is predominantly due to an
increase in funds from operations for the financial year ended 31 March 2023.

 

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 2023 are expected to be
published on Monday, 5 June 2023.

 

For further information:

Sirius Real Estate

Andrew Coombs, CEO / Alistair Marks, CIO and Interim CFO

+49 (0) 30 285 010 110

 

FTI Consulting (Financial PR)

Richard Sunderland / James McEwan / Talia Shirion

+44 (0) 20 3727 1000

SiriusRealEstate@fticonsulting.com

 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main and premium market of the
London Stock Exchange and the main board of the JSE Limited. It is a leading
owner and operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the UK. As of 31
March 2022, and following the acquisition of BizSpace, a leading UK provider
of regional flexible workspace, the Group's portfolio comprised 140 assets let
to 9,452 tenants with a total book value of over €2 billion, generating a
total annualised rent roll of €167.1 million. Sirius also holds a 35% stake
in Titanium, its €350+ million German-focused joint venture with clients of
AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive
yields and integrating them into its network of sites - both under the Sirius
name and alongside a range of branded products. The business then seeks to
reconfigure and upgrade existing and vacant space to appeal to the local
market via intensive asset management and investment and may then choose to
selectively refinance or dispose of assets once they meet maturity, to release
capital for new investment. This active approach allows the Company to
generate attractive returns for shareholders through growing rental income,
improving cost recoveries and capital values, and enhancing returns through
securing efficient financing terms.

 

 

JSE Sponsor

PSG Capital

 

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