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Company Name: Hansteen Holdings PLC

Place of Registration: England and Wales

Registered Number: 05605371

Registered Office Address:

1st Floor, Pegasus House,
37-43 Sackville Street
London W1S 3DL

Telephone: +44 (0)207 408 7000
Fax: +44 (0)207 408 7001

VAT number 872 5613 11

Regional offices

Results centre

11 March 2014

Full year results for the year ended 31 December 2013

Financial Highlights
  • Normalised Income Profit increased by 28% to £39.4 million (2012: £30.8 million
  • Normalised Total Profit increased by 35% to £46.3 million (2012: £34.3 million)
  • IFRS profit before tax increased by 41% to £65.3 million (2012: £46.2 million)
  • Normalised Income Profit per share, increased by 28% to 6.2p (2012: 4.8p)
  • Diluted EPRA earnings per share increased by 6% to 5.0p (2012: 4.7p)
  • Full year dividend increased by 7% to 4.8p per share (2012: 4.5p per share)
  • EPRA NAV per share increased by 9% to 91p (31 December 2012: 83p)
  • Net debt to property value ratio of 49.3% (31 December 2012: 38.6%)
  • Two new five year loans totalling €343 million secured against German property announced on 4 March 2014
Operational Highlights
  • Total portfolio owned or co-owned increased by 53% to £1.5 billion (2012: £1.0 billion)
  • Annualised rent roll from total portfolio up 59% to £134.9 million (2012: £84.7 million)
  • 46 sales of £159.6 million with a total profit of £10.0 million
  • £53 million investment in the Ashtenne Industrial Fund and contract to manage the Fund
  • £91.1 million of properties acquired (excluding the stake in AIF) at an average yield of 10.3% and a vacancy of 21.0%
  • Like-for-like occupancy improvement of 104,000 sq m or 22.2% of vacancy at the start of the year
  • Property valuation increase across the total portfolio of 3.2% (£46.9 million)
  • Launch of the second co-investment fund (HPUTII)
  • Issue of €100 million convertible bond with 4% coupon and five year maturity
  • €41.7 million acquisition of an impaired loan on HBI Netherlands portfolio at a 51% discount to face value
Results download
 

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