South Africa · Delayed Price · Currency is ZAR · Price in ZAc Emira Property Fund Earnings Call Transcripts
Fiscal Year 2026
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Solid FY 2026 results with DIPS up 3.7% and NAV per share up 1.3%, driven by capital recycling, strategic investments, and strong operational performance across segments, despite global headwinds and a stronger ZAR.
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Stable interim results with distributable income per share up 1.9% and NAV per share up 1.4%. Strategic asset disposals, share buybacks, and new investments drove improved LTV and ICR, while segment performance remained resilient despite macroeconomic headwinds.
Fiscal Year 2025
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Exceptional FY2025 results driven by strategic disposals and a major investment in Poland, boosting liquidity and NAV. Improved financial metrics, strong segment performance, and a positive outlook with a new CEO appointed.
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Strong asset sales, improved vacancies, and a strategic Polish investment drive growth, with KPI targets on track and LTV expected to normalize as disposals complete. Polish logistics exposure offers high yields, while local portfolio benefits from macro tailwinds.
Fiscal Year 2024
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Strong operational performance and asset disposals drove liquidity and portfolio diversification, with improved vacancies and tenant retention. Higher interest rates pressured profitability, but key financial targets were exceeded and further offshore diversification is planned.