Growthpoint (GRT) FY23 – Results Snapshot

Distribution per share increased 1.3% to 130.1c.
Distributable income per share (DIPS) increased 1.3% to 157.6c.
SA REIT NAV per share decreased 0.3% to R21.51
Growthpoint Investment Partners AUM grew 14.7% to R17.9bn, generating R98m in management fees.
Group SA REIT LTV increased from 37.9% to 40.1%.
Group vacancies increased from 9.3% to 9.4%.
Interest cover ratio decreased from 3.1X to 2.9X.
Vacancies improved from 10.1% to 9.2%.
Offshore assets increased from 44.2% to 45.8%.
Offshore DIPS as a % of total DIPS increased to 29.1%.
Fair value adjustments for the year were down R3.8bn.
Fitch / Moody’s rating: Global – BB+/Ba2 Local – AAA/