London · Delayed Price · Currency is GBP · Price in GBX Hammerson Earnings Call Transcripts
Fiscal Year 2025
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Delivered strong 2025 results with 23% net rental income growth, higher occupancy, and robust leasing. Outlook for 2026 is positive, with 20% NRI growth and continued earnings momentum, supported by disciplined capital allocation and asset repositioning.
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Strong half-year results driven by portfolio realignment, high-yield acquisitions, and robust leasing, with upgraded 2025 guidance for 17% GRI growth and £102 million EPRA earnings. Balance sheet remains strong, and demand for prime retail space is at record highs.
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Strong half-year results driven by portfolio realignment, high-yield acquisitions, and robust leasing, with upgraded 2025 guidance for 17% GRI growth and GBP 102 million EPRA earnings. Acquisition of Bullring & Grand Central is expected to be immediately accretive.
Fiscal Year 2024
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2024 saw strong operational and financial performance, with robust leasing, reduced vacancy, and a strengthened balance sheet. Adjusted earnings reached £99m, and the outlook is positive with further growth expected from investments and acquisitions.
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Strong first half with 4% GRI and 5% NRI growth, a 9% uplift in adjusted earnings, and a 5% dividend increase. The GBP 600 million Value Retail disposal strengthens the balance sheet, enabling a share buyback and positioning for future growth.
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A £1.5 billion transaction will generate £600 million in cash, enabling a strategic shift to core city center assets, significant deleveraging, and enhanced shareholder returns through buybacks and higher dividends. The medium-term outlook targets 6%-8% annual earnings and dividend growth.