REAL ESTATE: Segro (SGROLN: A- Fitch): FY24
Feb-14 07:54
Equity increase helped reduced leverage. Data driving growth
- Net Rental Income +7% to £628m; +5.8% like-for-like
- Adj Pre-Tax Profit £470m +14.9%
- New headline rent of £91m generated
- Data Centre growth will be a focus with 2.3GW pipeline
- Portfolio revaluation of +1.1% vs -4% decline 2023
- LTV is low at 28% vs 34% 2023;
- NetDebt/EBITDA reduced to 8.6x in 2024 from 10.4x 2023
- Issued €500m 8yr in Sep to repay loans. Next bond maturity Mar '26.
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Historical bullets
USD: Broader USD selling is emerging
Jan-15 07:52
- Some broader USD selling is driving the bounce in Cable, taking its cue from the bid in Bond futures, US Tnotes (TYH5) breaks the overnight high, and eye a test to 107.18+, Yesterday's high.
- USDJPY is just finding support at the mentioned 156.92, was Monday's low, so far printed a 156.98 low.
EURIBOR OPTIONS: Call Fly buyer
Jan-15 07:48
ERM5 97.62/97.75/97.87c fly, bought for 2.25 in 8.88k
MNI: FRANCE DEC HICP 0.2% M/M, 1.8% Y/Y
Jan-15 07:45
- MNI: FRANCE DEC HICP 0.2% M/M, 1.8% Y/Y
- FRANCE DEC CPI 0.2% M/M, 1.3% Y/Y
