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Warehouse REIT (WHR) investor relations material
Warehouse REIT H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio value increased 3.8% like-for-like to £805.4m, with multi-let assets outperforming at +7.1%.
IFRS profit rose 21.6% year-over-year to £41.7m; operating profits remained flat at £35.0m.
105 lease events secured £14.1m in contracted rent, leasing 24.4% ahead of prior rents.
Occupancy decreased to 93.7% from 96.4% due to expected vacancies.
Strategic initiatives advanced, including capital recycling and sustainability progress.
Financial highlights
Adjusted earnings per share increased 8.3% to 5.2p; dividend per share held at 6.4p.
EPRA NTA per share rose 2.9% to 128.0p; total accounting return was 8.0%.
Loan-to-value improved to 32.4% from 33.1% year-over-year.
IFRS profit before tax up 37% to £47.1m; adjusted EBITDA stable at £35.0m.
Ongoing charges ratio at 1.4%; headroom of £31.0m.
Outlook and guidance
25.2% reversionary potential, including £4.6m from vacant space, supports future rental growth.
Ongoing capital recycling with £85.7m in sales, 0.7% above book value.
Continued focus on multi-let assets and capturing rental reversion.
FY26 cost savings of 0.7p per share expected from IMA amendment and refinancing.
- TimeTickerHeadlineOpen
- 6 FebJ
Strong growth, digital innovation, and margin expansion drive robust multi-year financial outlook. - 6 Feb004020
Operating profit rose on cost savings and high-value sales, with major US expansion underway. - 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
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