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31 May 2023 07:00
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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