Integrated
Annual Results
presentation
for the period ended 30 June 2022
Agenda
Headlines and Key Metrics
South Africa
Eastern Europe
Sub-Saharan Africa
Financial Results
In Closing
2
Progress over the past 3 years
Sub-Saharan | ||||||||||||||||||
Group | South Africa | Eastern Europe | Africa | |||||||||||||||
Further strengthen | Mixed-use opportunities | Retain dominance - asset | Ensure value creation | |||||||||||||||
balance sheet | management initiatives | |||||||||||||||||
Annual review of portfolio | Implement priorities | and extensions | Exit strategy | |||||||||||||||
in terms of | ||||||||||||||||||
and recycling of assets | repositioning strategy | Leverage SA expertise | ||||||||||||||||
Implement Hystead | Implement the | Securing rights for | ||||||||||||||||
liquidity event | Golden Thread | extensions | ||||||||||||||||
Improving ESG initiatives | Complete refinance of | |||||||||||||||||
in-country debt | ||||||||||||||||||
Complete /acceptable progress and ongoing | Not acceptable progress | |
Non-Tangible
Assets
SOKO - complete
software development
and 1st pilot
Roll-out further SOKO
districts
Pursue 4 new
opportunities via
Innovation JV
3
Headlines
Creating spaces and connecting people
Group
South Africa | Eastern Europe | Sub-Saharan Africa |
Non-Tangible Assets
- Hystead liquidity event implemented:
- Hyprop acquired the four European malls - 99.92% support of the 79.71% voting shareholders
- Sold Delta City, Belgrade for €115 million
- Sold Delta City, Podgorica for €95 million
- 7.4% growth in the Group's distributable income
- Fully consolidated LTV reduced from 45.8% in June 2021 to 36.4% in June 2022
- 39% increase in gross assets to R37.3 billion
- Improved B-BBEE rating to Level 4 (2021: Level 6)
- 9% like-for-like growth in distributable income
- Like-for-likeindependent property valuation up 2.6% to R22.7 billion
- Retail vacancy reduced to 2%
- Tenant turnover increased by 13.6%
- Trading density increased by 10.9%
- First Ted Baker and Zara open in Canal Walk
- Successful revamp of Clearwater food court
- Completed energy audits on portfolio
- 3 months NOI of R110 million vs forecasted R98 million
- Independent property valuations of €573 million vs €575 transaction value
- Positive rent reversions of 6.5%
- Retail vacancy at 0.7%
- Tenant turnover increased by 14.5%
- Trading density up 7.4%
- Skopje City Mall redevelopment completed
- First phase of The Mall in Sofia bathroom upgrade to be completed by end November 2022
- Property valuation down 2.8% in US$ terms
- Vacancies reduced from 12.2% to 10.1% at all centres
- Nike opens flagship store at Ikeja City Mall, Nigeria
- Signed term sheet on sale of the Ghana portfolio
- Internalised physical districts into Hyprop portfolio as differentiator
- SOKO technological platform remain in JV with EmpiriQ
- NIKA (electronic gift cards) pilot to start at Rosebank Mall
4
Key metrics
Group
Distributable income (Cps)/(R'm) | ||||||||||||||
400 | 6.3 | 3.4% | ||||||||||||
350 | 38.8 | |||||||||||||
40.0 | 29.5 | |||||||||||||
300 | 381.4 | |||||||||||||
354.5 | ||||||||||||||
250 | 342.5 | |||||||||||||
308.3 | 313.0 | |||||||||||||
200 | ||||||||||||||
June 2021 | June 2022 | |||||||||||||
Group | AVM | Effect of Europe income | Effect of additional shares | |||||||||||
Distributable income (Group)
1 090.1
June 2021
IFRS NAV per share (R)
70
65 | 6.82 | |||||||||||||
6.60 | ||||||||||||||
67.70 | ||||||||||||||
60 | 65.57 | |||||||||||||
55 | 62.96 | 58.97 | 60.88 | |||||||||||
June 2021 | December 2021 | June 2022 | ||||||||||||
7.4% | IFRS NAV | Effect of Shares | ||||||||||||
1 170.8 |
June 2022
5
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Hyprop Investments Limited published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2022 08:03:03 UTC.