Search HOME // INVESTORS // RESULTS CENTRE // 2021 HALF YEAR HIGHLIGHTS 2021 Half Year Highlights 2021 Q3 TRADING UPDATE 2021 HALF YEAR HIGHLIGHTS 2021 HALF YEAR VIDEO STATEMENT PREVIOUS RESULTS SEGRO reports a strong performance in H1 2021 and remains well-positioned to deliver further growth. Commenting on the results, David Sleath, Chief Executive, said: “SEGRO has delivered another strong set of results, which reflect the high quality of our portfolio and increased demand from a diverse range of occupiers and investors. Together with our active approach to asset management, rental growth and further progress with our development pipeline, these factors have driven significant valuation increases and earnings growth. “We have also made important progress on our Responsible SEGRO priorities, putting the necessary framework in place to enable us to deliver on our long-term commitments, whilst continuing to work with our local teams and partners to embed our approach into our day-to-day business. “SEGRO is well-placed to continue benefitting from the structural tailwinds driving the industrial property sector with our unique portfolio of prime warehouses, two-thirds of which are located in the most supply constrained urban markets, and an enviable land bank capable of supporting our profitable and expanding development programme. The combination of our established pan-European, customer-focused operating platform and our relationships and reputation with other key stakeholders, give us a significant competitive advantage which further enhances our ability to secure opportunities for future growth.” Highlights: Adjusted pre-tax profit of £168 million up 19 per cent compared with the prior year (H1 2020: £141 million). Adjusted EPS is 13.8 pence, up 10 per cent (H1 2020: 12.5 pence). Adjusted NAV per share is up 12 per cent to 909 pence (31 December 2020: 814 pence) driven by portfolio asset management initiatives, yield compression, rental growth and our development activity delivering a 10 per cent increase in the valuation of the portfolio. Strong occupier demand, our customer focus and active management of the portfolio generated £38 million of new headline rent commitments during the period, including £21 million of new pre-let agreements, and a 12 per cent average uplift on rent reviews and renewals (UK: 16 per cent, CE: 2 per cent). Further growth in the development pipeline with 1.3 million sq m of projects under construction or in advanced pre-let discussions equating to £96 million of potential rent, of which 75 per cent has been pre-let, substantially de-risking the 2021-2022 pipeline. Balance sheet positioned to support further, development-led growth with access to over £1.2 billion of available liquidity and a low level of gearing reflected in an LTV of 21 per cent at 30 June 2021 (31 December 2020: 24 per cent). Interim dividend increased by 7 per cent to 7.4 pence (2020: 6.9 pence), in line with our usual practice of setting the interim dividend at one-third of the previous full year dividend. DOWNLOADS Read the Q3 2021 Trading Update Read the Half Year 2021 announcement Read the Half Year 2021 presentation Read the Half Year 2021 Property Analysis Report Watch the Half Year 2021 Webcast Read the 2020 Annual Report & Accounts CONTACT Claire Mogford Head of Investor Relations Claire.mogford@segro.com ABOUT US PROPERTIES RESPONSIBLE SEGRO CUSTOMERS MEDIA INVESTORS CAREERS CONTACT US EMAIL ALERTS SITE MAP PRIVACY & COOKIES DISCLAIMER ACCESSIBILITY SLAVERY AND HUMAN TRAFFICKING STATEMENT REGISTER TO RECEIVE MARKETING MATERIAL COOKIE SETTINGS SEGRO plc Registered office: 1 New Burlington Place, London W1S 2HR. UK Registered No. 167591 Place of Registration: England and Wales © SEGRO 2021 FOLLOW US ON SOCIAL MEDIA Linked In Facebook You tube Twiter Instagram Accessibility tools