SA REIT FFO down 2.9% y-y. Distributable income per share increased 3.9% to 74c y-y.
Distribution per share of 61c (HY24: 58.8c).
Property assets down R14.928bn or 9.2%. Net debt down R7.939bn or 11.6% y-y.
Sale of C&R concluded.
SA REIT NAV per share decreased 2.6% to R19.67.
Disposals of 12 properties R589.4m (two offices).
GIPS AUM decreased to R8.4bn from R18bn at FY24.
Group SA REIT LTV improved to 40.8% from 42.3% at FY24.
Group vacancies decreased from 8.5% to 8.1%.
Offshore assets decreased from 43.5% to 37.9% y-y.
Offshore DIPS as a % of total DIPS decreased from 32.5% to 30.5% y-y.
Fair value adjustments for the half year were negative R563m.
