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 industrial and logistics growth, value gains, and disciplined capital allocation. Portfolio repositioned for data center and advanced manufacturing demand, with robust returns and a clear path to £1bn EPRA NDV.
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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.