Redefine Properties (RDF) FY24 – Results Snapshot

Property assets under management increased from R96.8bn to R99.6bn.
Revenue increased by 7.5% y-y from R9 908m to R10 656m.
Distribution per share decreased from 43.8c to 42.52c.
Distributable income decreased by 2.9%.
DIPS decreased from 51.53c to 50.02c.
SA REIT LTV ratio increased from 41.1% to 42.3%.
Weighted average debt margin decreased by 32bps to 182bps.
Group net operating margin of 75.1%.
Cash on balance sheet decreased from R761m to R531m.
SA REIT vacancies stable at 6.6%.
NAV per Share increased from R7.66 to R7.88.