Performance and financial review
Performance and financial review
"SEGRO has performed well during 2024. Our prime portfolio of modern, sustainable warehouses and data centres, located in the most attractive and supply constrained markets and managed by our market leading operating platform, has continued to deliver growth."
Soumen Das, Chief Financial Officer
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Adjusted profit before tax
2023: £409m
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Adjusted earnings per share
2023: 32.7p
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Dividend per share
2023: 27.8p
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Portfolio valuation
2023: £17.8bn
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Adjusted NAV per share
2023: 907p
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Loan to value ratio
2023: 34%
Operational highlights
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New headline rent contracted
2023: £88m
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Uplift on rent reviews and renewals
2023: 31%
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Customer satisfaction
2023: 88%
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Occupancy
2023: 95%
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Development completions potential headline rent
2023: £50m
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Investment into portfolio
2023: £931m
UK 2024 Highlights
- Captured a significant amount of reversion during the year, particularly in the London portfolio.
- Renewal of the Simplified Planning Zone in Slough.
- Quieter pre-let market but we outperformed with two large signings in the Midlands.
- Smart acquisitions helping create clusters in attractive markets.
- Hit key milestones on the infrastructure works at our new big box development in Radlett in Hertfordshire.
View our detailed regional updates
Continental Europe 2024 highlights
- Rental growth across all of our markets, albeit at a more moderate pace than during the pandemic period.
- Lower level of development completions but good progress in progressing planning for future schemes.
- Well-executed disposals programme.
- Almost doubled the size of our Dutch portfolio through some great asset acquisitions.
- Good progress securing power for some of our Continental European data centre opportunities.