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Sirius Real Estate: Update
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== Final results == On 13th June 2022, the company announced its full year results for the year ended 31st March 2022. During the 12-month period, revenue increased by 27% to β¬210 million (FY2021: β¬165 million), and the gain on revaluation of investment properties jumped by 41% to β¬210 million (FY2021: β¬165 million); however, mainly due to an impairment charge, higher administrative expenses and interest expenses, the net profit remained more-or-less unchanged at β¬147 million (FY 2021: β¬147 million). In terms of the financial position of the company, the net current assets increased by more than 3x to β¬55 million (FY 2021: β¬17 million), and the net asset value (NAV) rose by by 28% to β¬1.19 billion (FY 2021: β¬0.93 billion). Cash flows from operating activities increased by 15% to β¬82 million (FY2021: β¬71 million), and mainly due to the acquisition of a subsidiary and purchase of investment properties, cash flows used in investing activities increased by almost 6x to β¬430 million (FY2021: β¬74 million). Cash flows from financing activities swung to β¬431 million (FY2021: negative β¬54 million), driven by the proceeds of loans and the issue of share capital. The total dividend per share for the year increased by 16% to 4.41 cents (FY2021: 3.80%). Funds From Operations (FFO) increased by 22.5% to β¬74.6 million (FY2021: β¬60.9 million). {| class="wikitable" |+How do the results compare to our forecasts? ! !Forecast !Actual !Difference (%) |- |Portfolio value (β¬'billion) |2.00 |2.08 |4.00% |- |FFO (β¬'million) |72.0 |74.6 |3.61% |- |FFO/share (β¬'cents) |6.58 |6.78 |3.04% |- |Dividend/share (β¬'cents) |4.25 |4.41 |3.76% |- |Adjusted NAV/share (β¬'cents) |104.4 |108.5 |3.93% |}
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