Wrap Text
Trading Statement
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
7 June 2022
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
Trading Statement
Sirius Real Estate, the leading owner and operator of branded business and industrial parks
providing conventional space and flexible workspace in Germany and the UK, announces that it
expects its total dividend for the full year ending 31 March 2022 to be between 4.389 cents and
4.427 cents per share, representing an increase of between 15.5% and 16.5% compared to the
total dividend of 3.800 cents per share reported for the financial year ended 31 March 2021. This
expected increase is predominantly due to an increase in funds from operations for the financial
year ended 31 March 2022.
This disclosure has been announced in line with JSE Limited Listings Requirements, pursuant to
which the Company is required to publish a trading statement as soon as it becomes reasonably
certain that the distribution per share for the next period to be reported on will differ by 15% or
more from the distribution per share for the prior corresponding period.
The financial information on which this trading statement is based has not been reviewed or
reported on by the auditor of the Company. The audited results for the financial year ended
31 March 2022 are expected to be published on 13 June 2022.
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Diarmuid Kelly, CFO / Alistair Marks, CIO
+49 (0) 30 285010110
FTI Consulting (Financial PR)
Richard Sunderland / James McEwan / Talia Jessener
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
The information contained within this announcement is deemed by the Company to constitute inside
information for the purposes of the UK version of EU Regulation No. 596/2014 as it forms part of UK
domestic law and as defined in the European Union (Withdrawal) Act 2018 ("UK MAR").
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main market and premium segment of the London Stock
Exchange and the main board of the JSE Limited. It is a leading operator of branded business parks
providing conventional space and flexible workspace in Germany and the UK. The Company’s purpose
is to create and manage optimal workspaces that empower small and medium-sized businesses to
grow, evolve and thrive. Sirius seeks to unlock the potential of its people, its properties, and the
communities in which it operates, so that together we can create sustainable impact, and long-term
financial and social value.
The Company's core strategy is the acquisition of business parks at attractive yields, the integration of
these business parks into its network of sites under the Company's own name as well as offering a
range of branded products within those sites, and the reconfiguration and upgrade of existing and
vacant space to appeal to the local market, through intensive asset management and investment. The
Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and
improving cost recoveries and capital values, as well as by enhancing those returns through financing
its assets on favourable terms. Once sites are mature and net income and values have been optimised,
the Company may take the opportunity to refinance the sites to release capital for investment in new
sites or consider the disposal of sites in order to recycle equity into assets which present greater
opportunity for the asset management skills of the Company's team.
Sirius also has a venture with clients represented by AXA IM Alts. Titanium was formed through the
acquisition by AXA IM Alts, on behalf of its clients, from Sirius, of a 65% stake in five business parks
across Germany. Sirius retained the remaining 35%. The venture seeks to grow primarily through the
acquisition of larger stabilised business park assets and portfolios of assets with strong tenant profiles
and occupancy. As well as its equity interest, Sirius acts as operator of the assets in the venture, on a
fee basis. Sirius will continue to grow its wholly owned portfolio through acquisitions of more
opportunistic assets, where it can capitalise on its asset management expertise to maximise utilisation
of the space, grow occupancy and improve quality of the tenants. The strategies have been clearly
defined so that the venture does not conflict with Sirius's existing business.
In November 2021, Sirius Real Estate announced and completed the acquisition of BizSpace, a leading
provider of regional flexible workspace in the UK. BizSpace offers light industrial, workshop, studio and
out of town office units to a wide range of businesses across the UK and the acquisition therefore
provided Sirius with a unique opportunity to immediately enter, with scale, an under-served new market
through a one-step acquisition of an established platform. It provides Sirius with a high-quality portfolio,
offering significant organic growth potential in rental pricing in a UK market characterised by supply
constraints. The BizSpace business is also highly complementary to Sirius' existing platform, allowing
for meaningful operational and financial synergies to drive value creation for Sirius shareholders.
For more information, please visit: www.sirius-real-estate.com
Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
JSE Sponsor
PSG Capital
Date: 07-06-2022 08:00:00
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