Sirius Real Estate H2 Earnings Call Highlights

Key Points

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• Sirius Real Estate posted stronger full-year results, with funds from operations up 8.4% to EUR 133.5 million, rental income up 11.4% to EUR 239.8 million, and the yearly dividend rising 4.1% to EUR 0.064 per share. The institution besides marked its 25th consecutive play of dividend growth.

• Growth was driven by acquisitions and integrated rent rotation gains, with like-for-like rent rotation up 6.4% and full rent rotation up much than 11%. Management said EUR 513 cardinal of acquisitions should proceed to enactment earnings, with much maturation “baked in” for the twelvemonth ahead.

• Management highlighted Germany and the U.K. arsenic cardinal markets, with Germany outperforming and the U.K. facing softer request owed to governmental uncertainty. Sirius besides reiterated longer-term maturation plans tied to self-storage and defense-related property, alongside a beardown equilibrium expanse with ample liquidity.

Sirius Real Estate (LON:SRE) reported higher full-year funds from operations, rental income and dividends for the play ended March 31, 2026, arsenic absorption said acquisitions and like-for-like rent rotation maturation offset macroeconomic unit successful the U.K. and Europe.

Group Chief Executive Officer Andrew Coombs said the proprietor and relation of mixed-use airy concern concern parks delivered “another twelvemonth of concern arsenic usual” contempt “macroeconomic headwinds and governmental uncertainty.” Sirius operates much than EUR 3 cardinal of spot crossed much than 160 sites and astir 2,000 commercialized buildings successful Germany and the U.K., with 90% of the portfolio wholly owned.

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For the year, funds from operations roseate 8.4% to EUR 133.5 million, portion FFO per stock accrued 4.5%. Rental income roseate 11.4% to EUR 239.8 million, and Group Chief Financial Officer Chris Bowman said the institution ended the twelvemonth with rent rotation “well successful excess of EUR 250 million,” adding that “there is maturation baked into our portfolio for the twelvemonth ahead.”

The institution declared a second-half dividend of EUR 0.0322 per share, bringing the full dividend for the twelvemonth to EUR 0.064, up 4.1% from the anterior year. Bowman said the summation marked the company’s 25th consecutive play of dividend growth.

Acquisitions Drive Rent Roll Growth

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Sirius said radical like-for-like rent rotation accrued 6.4%, portion full rent rotation grew by much than 11% arsenic acquisitions contributed to the portfolio. Bowman said the institution completed oregon notarized EUR 513 cardinal of acquisition enactment during the period, bringing EUR 36 cardinal of nett operating income, lone astir fractional of which was reflected successful the fiscal 2026 nett and nonaccomplishment statement.