SA like-for-like NOI growth 4.6%.
Retail vacancies in SA contained at 1.9%.
Like-for-like portfolio value up 3.7%.
Spain NOI growth 2.1%.
Spain rental reversions 45.5% and vacancies 1.4%.
Sold remaining holding in Fairvest for R141m.
FFO of 82.4c and dividend of 55.2c, up 6% on prior period.
LTV ratio decreased to 34.5% from 39.9% (at FY24). This is because VKE has raised R2bn from share issuances, and only deployed €176.5m into Portugal.
Disposed of Lar España for €200m.
Interest cover ratio 2.5x (1H24 2.9x).
Cash balance of R5.1bn and undrawn facilities of R1.3bn.
