SEGRO PLC
LSE:SGRO

Watchlist Manager
SEGRO PLC Logo
SEGRO PLC
LSE:SGRO
Watchlist
Price: 686 GBX -1.27% Market Closed
Market Cap: 9.3B GBX

SEGRO PLC
Investor Relations

SEGRO PLC, a name etched in the annals of European real estate, traces its origins back to 1920. The company has adeptly navigated the twists and turns of market demands over the decades. Originally founded as the Slough Estates Group, it has evolved into a powerhouse specializing in the development and management of industrial and logistical properties. With a portfolio that sprawls across the United Kingdom and continental Europe, SEGRO stands out not just for the scale of its assets but for the strategic astuteness that has allowed it to remain a leader in the sector. Through building modern, flexible spaces that cater to both burgeoning e-commerce giants and traditional industrial tenants, SEGRO ensures its properties are perpetually in demand.

At the core of SEGRO's business model is the reliable creation and harvesting of rental income. By developing high-quality warehousing and light industrial properties, the company attracts a diverse tenant base, ranging from global corporations to nimble start-ups. This diversification spreads risk and creates multiple income streams, supporting steady financial performance. Moreover, the company’s strategy isn’t merely about acquiring and leasing properties; it places emphasis on long-term partnerships with its clients, providing customizable solutions that enhance tenant retention. As urban centers expand and the need for logistical efficiency intensifies, SEGRO's ability to anticipate and adapt to these dynamics positions it not just as a landlord, but as a pivotal player in the ever-evolving logistics landscape. Through strategic asset management and development initiatives, SEGRO continues to extract value from its properties, underscoring its role as a leader in industrial real estate.

Show more
Loading
SGRO
FTSE All Share Index
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jul 27, 2023
AI Summary
Q2 2023

Earnings Growth: Adjusted profit before tax rose 2.6% to £198 million, with adjusted EPS up 1.9% to 15.9 pence.

Dividend Increase: The interim dividend has been raised by 7.4% to 8.7 pence.

Portfolio Stability: Portfolio valuation fell only 1.4%, showing much greater stability versus the sharp corrections of 2022.

Strong Rental Performance: Like-for-like net rental income grew 5.1%, driven by robust occupier demand and rent uplifts.

High Occupancy: Occupancy remains high at 96%, with strong retention rates as customers accept higher rents for premium, sustainable spaces.

Development Progress: £28 million of new rent added from completed developments in H1, with 83% already leased, and a record level of completions expected for the year.

Conservative Funding: Management is prioritizing disposals and selective capital allocation over new debt, given higher financing costs.

Positive Outlook: Management remains confident in future rental growth and sees significant embedded growth potential from the land bank and reversion.

Key Financials
Adjusted Profit Before Tax
£198 million
Adjusted EPS
15.9 pence
Dividend (Interim)
8.7 pence
Portfolio Valuation
£18.1 billion
Net Asset Value (NAV) per share
937 pence
Occupancy
96%
Leverage (LTV)
34%
Average Cost of Debt
2.9%
Interest Cover
3.4 times
Development Yield on Cost (Current Program)
7.2%
Development Completions (H1)
350,000 sq m
New Rent Secured (H1)
£44 million
New Rent from Development Completions (H1)
£28 million
Development Pre-let Rate
83%
Earnings Call Recording
Other Earnings Calls
2023

Management

Mr. David John Rivers Sleath O.B.E.
CEO & Executive Director
No Bio Available
Paul Dunne
Managing Director of Group Operations
No Bio Available
Ms. Ellie Rush
Associate Director of Group Investment
No Bio Available
Mr. James Power
Director of Digital & Technology
No Bio Available
Mr. Rich Corbridge
Chief Information Officer
No Bio Available
Ms. Claire Mogford
Head of Investor Relations
No Bio Available
Ms. Elizabeth Blease
General Counsel
No Bio Available
Gary Gaskarth
External Communications Manager
No Bio Available
Mr. Nick Hughes
Director of Marketing & Communications
No Bio Available
Margaret Murphy
Group Human Resources Director
No Bio Available

Contacts

Address
London
1 New Burlington Place
Contacts
+442074519100.0
www.segro.com