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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

FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

15 Mar 2016

HANSTEEN REPORTS RECORD YEAR

Hansteen (LSE: HSTN), the investor in UK and continental European industrial property, announces its full year results for the year ended 31 December 2015.

Financial Highlights

  • IFRS profit before tax increased by 30.6% to £171.4 million (FY 2014: £131.2 million)
  • EPRA NAV per share increased by 9% to 111p (31 December 2014: 102p)
  • Total return to shareholders of 17.6p or 17.3% (EPRA NAV plus 8.1p dividend paid)
  • Full year dividend increased by 5.0% to 5.25p per share (2014: 5.0p per share)
  • Normalised Income Profit of £47.2 million (FY 2014: £48.2 million)
  • Normalised Total Profit of £63.2 million (FY 2014: £65.3 million)
  • Net debt to property value ratio of 41.2% (31 December 2014: 41.1%)

Operational Highlights

  • Acquisition of units in the Ashtenne Industrial Fund Unit Trust (“AIF”) increasing our interest from 36.7% to 81.8% during the year
  • Sale of HPUT II for £192.1 million at a profit to Hansteen of £4.7 million and £31.7 million over total acquisition cost
  • £86.3 million of other sales at a yield of 6.9% with a total profit of £8.7 million (over 31 December 2014 valuation) and £21.2 million over total acquisition cost
  • £68.0 million of properties acquired at an average yield of 7.8%
  • Property valuation increase across the total portfolio of 11.1%
  • Like-for-like occupancy improvement of 148,404 sq m
  • Like-for-like rent roll improvement of £2.0 million per annum
  • Placing of 35.7 million shares to raise £39.4 million

 

James Hambro, Chairman, commented: “Once again it has been a record year with the business making a total return to shareholders of 17.6p per share or 17.3%.  While we expect that the UK and European economies over the next few years will be subject to low interest rates and low growth, this environment should play to Hansteen’s strengths. We pay a high dividend, well covered by earnings and we have the capacity to continue to grow these earnings through a combination of improving occupancy, rental growth and income enhancing trading; selling lower yielding properties and buying higher yielding properties”.

 

Read the Full Results here

 

For more information:

Morgan Jones / Ian Watson Jeremy Carey
Hansteen Holdings PLC Tavistock Communications
Tel: 020 7408 7000 Tel: 020 7920 3150