Land Securities Group PLC (LDSCY) (FY 2025) Earfunction Call Highlights: Strong operative …

• EPS growth: Expected 20% growth of the EPS over the next five years, with an increase of 2% to 4% expected in the current year.

• The same income growth: Total growth of 5% a year, with retail and London sectors rising to 8%.

• Occupancy rate: Rose by 100 basis points to 97.2%.

• Nettos-to-Ebbitda: 7.7 -with a target of less than 8 times.

• Loan of value (LTV): A little more than 38%, with a goal of reducing the mid -1930s.

• Dividend growth: Increased by 2%in accordance with instructions.

• Equity return: Positive at 6.4%.

• Netto gear asset (NTA) per share: 1.7%.

• ERV growth: 4.2% growth due to strong leasing activity.

• Capital investment: Over 600 million GBP invested in retail destinations with GBP 65 million.

• Overhead cost -Reduction: A decrease of 5% for the year, with another 10% reduction target in the next two years.

Appearance date: May 16, 2025

You can find the complete copy of the earnings call in the complete earnings call.

• The Land Securities Group PLC (LDSCY) recorded a strong operating performance with a high similar income growth in London and retail, which is 83% of its business.

• The company expects to increase the growth of the EPS of around 20% in the next five years, although an EPS counterwind of 10% increases due to increasing interest costs of 10%.

• The occupancy rates rose by 100 basis points to 97.2%, which indicates a strong demand for their real estate.

• The Land Securities Group PLC (LDScy) invested over 600 million GBP in first -class retail goals, Liverpool One and Bluewater, to highly grade returns.

• The company has a clear strategy to achieve sustainable income and EPS growth, with the focus on high-quality assets and efficiency savings.

• The increasing interest costs and the course of the financing of rental contracts in quam are expected to create a headwind of 10% EPS counter -wind.

• The net debt rose due to acquisitions, although LTV is now a little more than 38%, which is higher than the goal of the mid -1930s.

• The company faces challenges in maintaining the EPS growth due to the time required for the shift of its portfoliomix.

• There is a risk of cost crossing and slipping the final data for developments in the substructure.

• The segment with mixed assets recorded a value of 5%, which was partly due to the fact that the Capex was still reflected in the evaluation cancellation.

Q: What are the key factors that are necessary for the achievement of the EPS growth destination from 2030 and what risks could prevent reaching? A: Mark Allan, CEO, explained that the most growth will come from the current portfolio, which focuses on recording reversations in the office location and rental growth in retail. The cost efficiency, which largely technology -driven, are also of crucial importance. At the end of the period, capital recycling will play a role, with a recovery of the demand for investors being accepted for office assets.