FINANCIAL SUMMARY
| 6 months to 30 June 2024 | 6 months to 30 June 2023 | Change per cent | |
| Adjusted2 profit before tax (£m) | 227 | 198 | 14.6 |
| IFRS profit/ (loss) before tax (£m) | 235 | (33) | - |
| Adjusted3 earnings per share (pence) | 17.0 | 15.9 | 6.9 |
| IFRS earnings per share (pence) | 16.9 | (1.9) | - |
| Dividend per share (pence) | 9.1 | 8.7 | 4.6 |
| Total Accounting Return (%)4 | 0.3 | (1.1) | - |
| 30 June 2024 | 31 December 2023 | Change per cent | |
| Assets under Management (£m) | 20,645 | 20,677 | |
| Portfolio valuation (SEGRO share, £m) | 17,817 | 17,762 | 0.05 |
| Net true equivalent yield (%) | 5.3 | 5.3 | - |
| Adjusted6 7 net asset value per share (pence, diluted) | 891 | 907 | (1.8) |
| IFRS net asset value per share (pence, diluted) | 874 | 886 | |
| Net debt (SEGRO share, £m) | 5,218 | 6,016 | |
| Loan to value ratio including joint ventures at share (%) | 30 | 34 | |
| Net debt:EBITDA8 (times) | 8.5 | 10.4 |
2. A reconciliation between Adjusted profit before tax and IFRS profit before tax is shown in Note 2 to the condensed financial information.
3. A reconciliation between Adjusted earnings per share and IFRS earnings per share is shown in Note 11 to the condensed financial information.
4. Total Accounting Return is calculated based on the opening and closing adjusted NAV per share adding back dividends paid during the period.
5. Percentage valuation movement during the period based on the difference between opening and closing valuations for all properties including buildings under construction and land, adjusting for capital expenditure, acquisitions and disposals. Table 3 in the Supplementary Notes provides a reconciliation to the condensed financial information.
6. A reconciliation between Adjusted net asset value per share and IFRS net asset value per share is shown in Note 11 to the condensed financial information.
7. Adjusted net asset value is in line with EPRA Net Tangible Assets (NTA) (see Table 5 in the Supplementary Notes for a NAV reconciliation).
8. For further information on net debt:EBITDA see footnote 2 to Table 2 in the Supplementary Notes.
Contact
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Place of Registration: England and Wales
SEGRO.Investor.Relations@segro.com
+ 44 (0) 20 7451 9100