2019 Full Year Results webcast

Listen to Tritax Big Box’s Colin Godfrey, James Dunlop and Frankie Whitehead deliver the 2019 Full Year Results

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Results – for the period from 1 January 2019 to 31 December 2019

2019 was an important year in the evolution of the Company – We acquired and integrated a prime logistics platform to complement our high-quality investment portfolio. The core of our business remains unchanged, with 89% of our portfolio comprising of new, modern standing assets, strategically located in prime logistics locations.

The occupational market remained healthy last year. Speculative supply of larger scale logistics buildings markedly decreased and demand outstripped supply for Grade A logistics stock. With a large overhang of probable lettings “under offer”, driven by demand for logistics space over 500,000 sq ft, initial prospects for 2020 look good.

Early positivity in the occupational and investment markets may be tempered by Coronavirus (COVID-19), which is already impacting global growth. It is impossible to know the extent to which the virus will develop, but our Investment portfolio is occupied by a diversified, high-quality Customer base, let on long leases. We continue to monitor the situation.

With renewed global economic uncertainty, we think it is more important than ever to stress the quality and longevity of our income stream together with embedded income growth.  We remain confident in our ability to continue to deliver secure and growing dividends to Shareholders as part of an attractive total return over the medium term. As such we have increased our dividend target by 2.2% to 7.00p per share for 2020.

Sir Richard Jewson KCVO, JP, Chairman

Tritax Big Box REIT plc announced its results for the year ended 31 December 2019 at 9am (GMT) on Tuesday, 17 March 2020. For the webcast recording see 2019 Full Year Results.

2019 Financial Highlights

31 Dec
2019
31 Dec
2018
 Increase/
Decrease
Dividend per share6.85p6.70p+2.2%
Contracted annual rent roll£166.6m£161.1m+3.4%
Operating profit (1)£122.5m£113.7m+7.7%
Adjusted earnings per share6.64p6.88p-3.5%
EPRA NAV151.06p152.83p-1.2%

(+1.3% excluding transaction
related costs)
(2)
Total Return3.3%

(5.8% excluding
transaction related costs)
(2)
12.1%-8.8ppt
Portfolio value£3.94bn£3.42bn+15.2%
Weighted average unexpired lease term (WAULT)14.1yrs14.4yrs-0.3yrs
Loan to value (LTV)30.4%27.3%3.1ppt
1 Operating profit before changes in fair value of Investment properties and contingent consideration, gain on bargain purchase, impairment of intangible and other property assets and share-based payment charges.

2 Excluding one-off transaction related cost of the Tritax Symmetry acquisition, totalling 3.8 pence per Share.

2019 Full Year Results

2019 Full Year Results, Audio Presentation

2019 Full Year Results Presentation

2019 Full Year Results Announcement

For the full archive of current and past Annual and Interim Reports and Company documents see Company Documents.