London · Delayed Price · Currency is GBP · Price in GBX Harworth Group Earnings Call Transcripts
Fiscal Year 2025
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Strong operational and financial performance in 2025, driven by a strategic pivot to industrial and logistics, robust value gains, and disciplined capital allocation. Outlook remains positive with a clear path to £1bn EPRA NDV and continued focus on high-return sectors.
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Strong operational momentum and portfolio growth were achieved despite market challenges, with industrial and logistics assets driving value and a robust sales pipeline supporting financial targets. The business remains on track for its £1 billion EPRA NDV goal by 2027, underpinned by disciplined investment, risk management, and a resilient land bank.
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Strong H1 2025 performance driven by industrial and logistics assets, with EPRA NDV up 0.8% to £725 million and robust progress on development pipeline. Residential segment stable but impacted by one-off costs; leverage remains within target as business targets £1 billion EPRA NDV by 2027.
Fiscal Year 2024
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Strong 2024 results featured record property sales, 8.5% EPRA NDV growth, and a 9.1% total accounting return. The business remains on track for its 2027 and 2029 targets, supported by robust liquidity, prudent leverage, and resilient demand in core markets.
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Management outlined a strategy to grow the investment portfolio to £900 million by 2029, focusing on self-developed industrial and logistics assets, with a robust pipeline and strong market demand. Major projects like Skelton Grange and Gascoigne Interchange highlight value creation and stakeholder partnerships.
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Strong H1 2024 performance with 3.5% EPRA NDV growth, record land sales, and a 4% total return. Major planning gains and the Microsoft land deal drive a robust development pipeline, supporting confidence in reaching £1bn EPRA NDV by 2027.