Last checked at 10 Jul 2012 07:00
10 July 2012
Changes to reportable segments
SEGRO, the leading European owner-manager and developer of industrial property, today publishes re-segmented historical profit and loss and balance sheet data for each of the years to 31 December 2011 and 31 December 2010 and for the half year to 30 June 2011.
These re-segmentations follow previously announced changes to our management structure. This included the appointment of Andy Gulliford into the newly created role of Chief Operating Officer ("COO") to manage our operational property teams in both the UK and Continental Europe. The COO is supported in the day-to-day management of operations by five regional Business Unit Directors.
As such, SEGRO has changed its reportable segments from UK and Continental Europe to the following five segments:
- Greater London
- Thames Valley and the Regions
- Germany and Northern Europe
- France and Southern Europe
- Poland and Central Europe
Pro forma historical data has been provided overleaf and is also available to download in excel format on our website: www.segro.com/investors/.
SEGRO will be reporting on this new segmental basis when it publishes interim results for the six months ended 30 June 2012 on 2 August 2012.
FY 2011 | Year to 31 December 2011 (£ million) | At 31 December 2011 (£ million) | |||||
Gross rental income | Net rental income | Share of JV's EPRA PAT | EPRA operating PBIT | Capex | Directly owned property assets | Investments in JVs | |
Greater London | 81.1 | 67.7 | 15.8 | 89.3 | 21.0 | 1,240.8 | 275.4 |
Thames Valley and the Regions | 129.7 | 112.9 | - | 112.2 | 61.0 | 1,802.4 | - |
Germany and Northern Europe | 55.3 | 45.8 | 0.8 | 43.4 | 39.4 | 714.8 | 23.0 |
France and Southern Europe | 38.6 | 33.8 | - | 32.4 | 37.6 | 471.1 | 0.4 |
Poland and Central Europe | 21.4 | 18.3 | - | 17.2 | 32.0 | 355.4 | - |
Other* | - | (7.3) | - | (32.9) | 3.2 | - | - |
Group | 326.1 | 271.2 | 16.6 | 261.6 | 194.2 | 4,584.5 | 298.8 |
FY 2010 | Year to 31 December 2010 (£ million) | At 31 December 2010 (£ million) | |||||
Gross rental income | Net rental income | Share of JV's EPRA PAT | EPRA operating PBIT | Capex | Directly owned property assets | Investments in JVs | |
Greater London | 94.3 | 76.7 | 9.9 | 88.2 | 7.7 | 1,294.6 | 254.3 |
Thames Valley and the Regions | 139.2 | 117.6 | (0.2) | 117.3 | 31.6 | 1,880.5 | 1.0 |
Germany and Northern Europe | 55.3 | 47.2 | 1.0 | 43.6 | 21.6 | 801.9 | 24.1 |
France and Southern Europe | 37.5 | 32.6 | 0.1 | 30.4 | 5.1 | 488.7 | 0.4 |
Poland and Central Europe | 18.3 | 14.6 | - | 12.5 | 12.2 | 330.3 | - |
Other* | - | (6.6) | - | (36.4) | 6.3 | - | - |
Group | 344.6 | 282.1 | 10.8 | 255.6 | 84.5 | 4,796.0 | 279.8 |
H1 2011 | Six months to 30 June 2011 (£ million) | At 30 June 2011 (£ million) | |||||
Gross rental income | Net rental income | Share of JV's EPRA PAT | EPRA operating PBIT | Capex | Directly owned property assets | Investments in JVs | |
Greater London | 40.5 | 34.2 | 9.5 | 45.4 | 11.6 | 1,297.2 | 269.4 |
Thames Valley and the Regions | 64.6 | 56.2 | - | 55.9 | 18.6 | 1,871.8 | - |
Germany and Northern Europe | 27.2 | 22.9 | 0.2 | 21.6 | 16.3 | 846.1 | 25.4 |
France and Southern Europe | 18.9 | 16.8 | - | 15.9 | 13.1 | 525.1 | 0.4 |
Poland and Central Europe | 10.3 | 9.1 | - | 8.3 | 12.8 | 365.9 | - |
Other* | - | (3.7) | - | (15.9) | 2.1 | - | - |
Group | 161.5 | 135.5 | 9.7 | 131.2 | 74.5 | 4,906.1 | 295.2 |
*Other comprises corporate centre costs as well as property and administration costs relating to the operational business which are not specifically allocated to a geographical business unit.
- ENDS -
For further information please contact:
SEGRO
Justin Read (Group Finance Director): +44 (0) 207 451 9110
Kate Heseltine (Investor Relations Manager): +44 (0) 207 451 9042
Tulchan
John Sunnucks/David Shriver: +44 (0) 20 7353 4200
About SEGRO:
SEGRO is Europe's leading owner-manager and developer of industrial property. The Group is a Real Estate Investment Trust (REIT), listed on the London Stock Exchange. SEGRO's portfolio comprises £5.1 billion of predominantly industrial and warehouse assets concentrated in and around major business centres and transportation hubs such as ports, airports and motorway intersections. The Group serves over 1,600 customers spread across many geographies and different industry sectors. It has 5.5 million sq m of built space and a passing rent roll of £334 million (as at 31 December 2011). For further information see www.SEGRO.com