Hammerson reports record leasing year, but losses expanded

HammersonThe owner and manager for retail and leisure complexes in Great Britain, France and Ireland, listed in the UK, stated to report a record year of leasing after a transformative year in the results for the year described on December 31, 2024.

The riding stated that it was a strong operating performance, whereby leasing was present in front of the previous temporary rents and estimated rental values ​​(ERV).

At 9:01 a.m., the Hammerson shares were reduced by 3.05% at 280.56 Pence to achieve a market capitalization of 1.36 billion GBP.

The market probably reacted to the riding, in which it also increases ten times his IFRS million sale of his share in September.

The adjusted profits amounted to £ 99 million, which is due to GBP 116 million, which reflected the effects of departures.

The same gross rental income (GRI) rose by 1.6% compared to the previous year, with the growth of assets by up to 7% “benefits from the latest investments,” said Hammerson.

The record leasing comprised 262 rental contracts that were signed at 1 million square foot, which created an annual headline rent of £ 41 million. The record was based on life data, with Market Letting 56% over earlier rent and 13% ahead of ERV.

Footfall grows in its centers with 170 million visitors throughout 2024, 2% in the group, whereby Great Britain has increased by 2% by 4% and Ireland by 1%. There is a reduced area, whereby the occupancy is improved to 95%. Hammerson described “rent stresses” in his portfolio.

The demand of the employees remains with £ 8.6 million, which were replaced in 2025, and good visibility and a strong pipeline for the rest of 2025.

Hammerson said that it had significantly strengthened its balance sheet in 2024, partly thanks to the conclusion of the non-core disposal program of 500 million GBP and the strategic disposal of its value command. Loans in value is 30% of 34%.

The net debt was 40% at 799 million GBP. There was a final sports folio value of 2.659 billion GBP, which had decreased slightly after 2,776 billion GBP last year last year.

The board of directors recommended a final dividend of 8.07 pence per share for 2024 in accordance with the new policy of 80 to 85% of the adjusted profit and a dividend of 15.63 pence of 15.63 pence, an increase of 4% a year .

It was again invested in the acquisitions of missions in its shopping centers and investments in reuse. It was said that the conversations with his joint venture partners to buy in missions were underway.

It said that capital was deployed in Bull in Birmingham and Dundrum In Ireland, rents of more than £ 184 million generated. The repositioning of Cabot Circus In Bristol and The oracle 52 million pounds have already been secured in Reading, with “Marquee Openings” in 2025 such as M&S and Odeon in the Cabot Circus as well as Hollywood Bowl and TK Maxx in Oracle.

135 million pounds immediately recycled to get 100% control over Westquay in Southampton with a “much more attractive yield”. Hammerson said it was still opportunities for a joint venture consolidation.

Under a number of important developments ashore around its complexes, it marked a “convincing possibility of renovation” of over 700 apartments on the unused parking lot of the Edgbaston Street in Bullring in Birmingham.

There was another 16% cost reduction. Net Leadcount has dropped by 76% since the full year 2020 to 125. This was made possible by Hammerson in “new skills and functions for customer knowledge, placemaking, digital marketing and commitment”.

Rita-Rose Gagné, Managing Director of Hammerson, said in an explanation with the results: “After a transformative and successful year for Hammerson, we have been a newly positioned business in the past four years we have 1.5 billion GBP of cash solutions to strengthen our capital structure and enable investments for growth investments in our high -quality portfolio.

“We have strategically reoriented the business to benefit from structural market trends. First the occupiers want fewer and more productive businesses in just these locations and enable us to attract leading global and local brand partners. 80% of all retail transactions that touch a business.

“Investments in our goals and our unique and specialized platform offer data -controlled insights to curate the right product, placemaking and the mixture of brands. This platform is scalable and agile and leads to tangible advantages with higher occupancy, leasing, footstorms and sales over the national benchmarks, while our catchment area and market share grow.

“We are confident in our strategy and optimistic about the upcoming chance for Hammerson. We continue.” “