Statement re Reportable Segments

RNS Number : 2605H

SEGRO PLC

10 July 2012

 

10 July 2012

Changes to reportable segments

SEGRO, the leading European owner-manager and developer of industrial property, today publishes re-segmented historical profit and loss and balance sheet data for each of the years to 31 December 2011 and 31 December 2010 and for the half year to 30 June 2011.

These re-segmentations follow previously announced changes to our management structure. This included the appointment of Andy Gulliford into the newly created role of Chief Operating Officer ("COO") to manage our operational property teams in both the UK and Continental Europe. The COO is supported in the day-to-day management of operations by five regional Business Unit Directors.   

As such, SEGRO has changed its reportable segments from UK and Continental Europe to the following five segments:

-     Greater London

-     Thames Valley and the Regions

-     Germany and Northern Europe

-     France and Southern Europe

-     Poland and Central Europe

Pro forma historical data has been provided overleaf and is also available to download in excel format on our website: www.segro.com/investors/.  

SEGRO will be reporting on this new segmental basis when it publishes interim results for the six months ended 30 June 2012 on 2 August 2012.    

FY 2011	Year to 31 December 2011 (£ million)					At 31 December 2011 (£ million)
	Gross rental income	Net rental income	Share of JV's EPRA PAT	EPRA operating PBIT	Capex	Directly owned property assets	Investments in JVs
Greater London	81.1	67.7	15.8	89.3	21.0	1,240.8	275.4
Thames Valley and the Regions	129.7	112.9	-	112.2	61.0	1,802.4	-
Germany and Northern Europe	55.3	45.8	0.8	43.4	39.4	714.8	23.0
France and Southern Europe	38.6	33.8	-	32.4	37.6	471.1	0.4
Poland and Central Europe	21.4	18.3	-	17.2	32.0	355.4	-
Other*	-	(7.3)	-	(32.9)	3.2	-	-
Group	326.1	271.2	16.6	261.6	194.2	4,584.5	298.8

FY 2010	Year to 31 December 2010 (£ million)					At 31 December 2010 (£ million)
	Gross rental income	Net rental income	Share of JV's EPRA PAT	EPRA operating PBIT	Capex	Directly owned property assets	Investments in JVs
Greater London	94.3	76.7	9.9	88.2	7.7	1,294.6	254.3
Thames Valley and the Regions	139.2	117.6	(0.2)	117.3	31.6	1,880.5	1.0
Germany and Northern Europe	55.3	47.2	1.0	43.6	21.6	801.9	24.1
France and Southern Europe	37.5	32.6	0.1	30.4	5.1	488.7	0.4
Poland and Central Europe	18.3	14.6	-	12.5	12.2	330.3	-
Other*	-	(6.6)	-	(36.4)	6.3	-	-
Group	344.6	282.1	10.8	255.6	84.5	4,796.0	279.8

H1 2011	Six months to 30 June 2011 (£ million)					At 30 June 2011 (£ million)
	Gross rental income	Net rental income	Share of JV's EPRA PAT	EPRA operating PBIT	Capex	Directly owned property assets	Investments in JVs
Greater London	40.5	34.2	9.5	45.4	11.6	1,297.2	269.4
Thames Valley and the Regions	64.6	56.2	-	55.9	18.6	1,871.8	-
Germany and Northern Europe	27.2	22.9	0.2	21.6	16.3	846.1	25.4
France and Southern Europe	18.9	16.8	-	15.9	13.1	525.1	0.4
Poland and Central Europe	10.3	9.1	-	8.3	12.8	365.9	-
Other*	-	(3.7)	-	(15.9)	2.1	-	-
Group	161.5	135.5	9.7	131.2	74.5	4,906.1	295.2

*Other comprises corporate centre costs as well as property and administration costs relating to the operational business which are not specifically allocated to a geographical business unit.

- ENDS -

For further information please contact:

SEGRO

Justin Read (Group Finance Director):  [phone]

Kate Heseltine (Investor Relations Manager):  [phone]

Tulchan

John Sunnucks/David Shriver: [phone]

About SEGRO:

SEGRO is Europe's leading owner-manager and developer of industrial property. The Group is a Real Estate Investment Trust (REIT), listed on the London Stock Exchange. SEGRO's portfolio comprises £5.1 billion of predominantly industrial and warehouse assets concentrated in and around major business centres and transportation hubs such as ports, airports and motorway intersections. The Group serves over 1,600 customers spread across many geographies and different industry sectors. It has 5.5 million sq m of built space and a passing rent roll of £334 million (as at 31 December 2011).  For further information see www.SEGRO.com

 

END

 

 

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