2025 annual results highlights
A transformative year for Vukile – rotating assets to proactively take advantage of a golden window of opportunity to acquire assets that are accretive and strategically aligned, to achieve greater scale in Iberia, grow the direct asset base by 60% and secure a future stream of growing earnings.
2025 interim results highlights
Our consumer-focus, distinguished by our sector specialisation and international diversification, has secured excellent half-year operational results. This strong performance positions us comfortably to meet our full-year guidance of growth in FFO per share of 2% to 4%, with a trajectory towards the upper end of our 4% to 6% DPS growth target.
Annual results archive
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2024
A year of outperformance delivering remarkable results including a 10.5% increase in dividend per share (DPS) to 124.2cps and 6.7% growth in its funds from operations (FFO) to 154.2cps – driven by our clear strategic direction and laser focus on execution.
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2023
Stellar results include 6.2% increase in cash dividend, 6.0% growth in funds from operations (FFO), whilst forecasting FY24 full-year FFO growth of 3% to 5% and dividend per share growth of 7% to 9%, notwithstanding the headwinds in its markets.
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2022
The financial year ending 2022 saw continued strong operating results and a secure financial position to lay the platform for future growth.
Highlights include:
- Strong performance with increased competition for space in South Africa
- Market-leading performance from Castellana
- Strong balance sheet with well-diversified funding base
- Active asset rotation
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2021
The financial year ending 2021 saw Vukile emerging from the pandemic with a strong operating platform and a robust financial position.
Highlights include:
- Sustained performance in Southern Africa with improvements in key operating metrics
- Spanish portfolio continues to deliver strong operating performance
- Strong balance sheet with well diversified funding base
- Further simplified business model
- Cash dividend of 101.04 cents per share to be paid in July 2021
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2020
The financial year ending 2020 saw Vukile’s solid operating platform provide the base off which to tackle the COVID-19 crisis.
Highlights include:
- 3.2% increase in distributable earnings per share
- Impressive retail performance in Spain
- Continued strength in southern African portfolio
- Strong cash cover and well diversified sources of funding
- Operational focus in readying centres to reopen in COVID-19 environment
Interim results archive
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2023
The financial year ending 2023 saw robust operating results and a defensive financial position from Vukile.
Highlights include:
- The South African portfolio continues to outperform with positive trading metrics and operational results
- Castellana leads the market with active asset management and impressive operational results
- Balance sheet defensively positioned in a rising interest rate cycle
- Optimal capital allocation through active asset rotation
- Increase in cash dividend
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2022
The financial year ending 2022 saw continued strong operating results and a secure financial position to lay the platform for future growth.
Highlights include:
- Southern Africa business now trading ahead of pre-COVID-19 levels
- Rapid recovery of Spanish portfolio
- Strong balance sheet with well diversified funding base
- Further simplified business model
- Return to payment of interim dividends
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2021
The financial year ending 2021 saw an unprecedented and challenging operating environment. Despite this, the portfolio performed remarkably well to limit the short-term impacts of the pandemic.
Highlights include:
- Sustained performance in tough Southern African trading environment
- Spanish portfolio holding up very well
- Strong balance sheet and well diversified funding base
- Extensive tenant relief provided in Southern Africa and Spain
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2020
The financial year ending 2020 saw Vukile’s clear strategic direction and strong operational focus paying off.
Highlights include:
- 3.5% increase in dividends in line with guidance to 80.84 cents per share
- Outstanding retail performance in Spain
- Continued strong operational results from defensive portfolio in southern Africa
- Robust balance sheet management leading up to upgraded credit rating
- 47% of earnings now generated in Spain