|6 months to
30 June 2022
|6 months to
30 June 2021
|Adjusted1 profit before tax (£m)||216||168||28.6|
|IFRS profit before tax (£m)||1,375||1,413||-|
|Adjusted2 earnings per share (pence)||16.9||13.8||22.5|
|IFRS earnings per share (pence)||110.7||110.3||-|
|Dividend per share (pence)||8.1||7.4||9.5|
|Total Accounting Return (%)3||11.3||13.5|
|30 June 2022||31 Dec 2021||Change
|Assets under Management (£m)||23,756||21,286|
|Portfolio valuation (SEGRO share, £m)||20,480||18,377||7.24|
|Adjusted5 6 net asset value per share (pence, diluted)||1,249||1,137||9.8|
|IFRS net asset value per share (pence, diluted)||1,212||1,115||-|
|Net debt (SEGRO share, £m)||4,764||4,201|
|Loan to value ratio including joint ventures at share (per cent)||23||23|
1. A reconciliation between Adjusted profit before tax and IFRS profit before tax is shown in Note 2 to the condensed financial information.
2. A reconciliation between Adjusted earnings per share and IFRS earnings per share is shown in Note 11 to the condensed financial information.
3. Total Accounting Return is calculated based on the opening and closing adjusted NAV per share adding back dividends paid during the period.
4. 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.
5. 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.
6. Adjusted net asset value is in line with EPRA Net Tangible Assets (NTA) (see Table 4 in the Supplementary Notes for a NAV reconciliation).
A Figures quoted on pages 1 to 15 of the press release refer to SEGRO’s share, except for land (hectares) and space (square metres) which are quoted at 100 per cent, unless otherwise stated. Please refer to the Presentation of Financial Information statement in the Financial Review for further details.
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