41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 237
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
EPRA Performance Measures
Summary of EPRA performance measures
Note
EPRA earnings
Adjusted earnings (*)
2022
£m
2021
£m
2022
2021
161.9
152.0
40.5p
38.1p
163.4
110.1
40.9p
27.6p
EPRA NTA (diluted)
3,718.3
3,536.1
927p
882p
EPRA NRV (diluted)
4,037.3
3,829.7
1,006p
955p
EPRA NDV (diluted)
3,968.0
3,503.6
989p
874p
4.6%
4.0%
EPRA net initial yield
EPRA topped up net initial yield
4.6%
4.0%
23.0%
4.7%
0.8%
5.6%
EPRA cost ratio (including vacancy costs)
33.4%
38.8%
EPRA Cost ratio (excluding vacancy costs)
32.3%
36.8%
EPRA like-for-like gross rental income
EPRA vacancy rate
*
Adjusted earnings calculated as EPRA earnings less LSAV performance fee income recognised and abortive costs.
EPRA like-for-like rental income (calculated based on total portfolio value of £8.5 billion)
Properties
owned
throughout
the period
Development
property
Acquisitions
and disposals
Total EPRA
Earnings
310.9
5.3
23.5
339.7
Property operating expenses
(90.6)
(1.1)
(7.0)
(98.7)
Net rental income
220.3
4.2
16.5
241.0
Rental income
252.8
–
29.9
282.7
Property operating expenses
(79.7)
–
(11.2)
(90.9)
Net rental income
173.1
–
18.7
191.8
£m
2022
Rental income
2021
Like-for-like net rental income (£m)
Like-for-like net rental income (%)
Like-for-like gross rental income (£m)
Like-for-like gross rental income (%)
47.2
27.3%
58.1
23.0%
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