Financial Highlights

We’re proud to be one of the largest owners of residential real estate in the UK. Our portfolio of almost 40,000 residential properties were acquired from the Ministry of Defence in 1996, and leased back to them for 200 years. As you can see below, we’re financially stable with reliable, long-term cash-flows.

Annington announces the successful extension of its existing £500 million loan facility

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Annington announces the successful extension of its existing £500 million loan facility

Highlights from Financial Year 2022

  • The carrying value of the Group’s investment properties increased to £8.5 billion (2021: £8.1 billion).
  • At 31 March 2022, the Group held 39,940 residential property units, of which 37,398 are part of the Married Quarters Estate leased to the UK Ministry of Defence (2021: 40,427 Units, 38,140 MQE).
  • Rental income was £205.5 million (2021: £201.3 million).
  • Adjusted EBITDA was £183.8 million (2021: £181.3 million)
  • Profit after taxation was £551.7 million (2021: £559.5 million).
  • The Group sold 481 (2021: 302) investment properties and recognised £107.7 million (2021: 70.6 million) in sales proceeds.
  • The expedited Site Review process was successfully completed, with a global discount from aggregate open market rents for individual units agreed at 49.6%, reduced from 58%.
  • The Group has received notices of enfranchisement from the MOD which are disputed and subject to judicial review proceedings
  • The Group successfully raised £800m of new debt.

Financial Performance

The carrying value of Group investment properties increased to

£8.5 BILLION

  • £7.1bn
    2018
  • £7.7bn
    2019
  • £7.7bn
    2020
  • £8.1bn
    2021
  • £8.5bn
    2022
The rental income for the Group increased to

£205.5 MILLION

  • £193m
    2018
  • £197m
    2019
  • £199m
    2020
  • £201m
    2021
  • £206m
    2022
The Adjusted EBITDA for the Group increased to

£183.8 MILLION

  • £178m
    2018
  • £179m
    2019
  • £183m
    2020
  • £181m
    2021
  • £184m
    2022
The Group recognised sales proceeds of

£107.6 MILLION

  • £35m
    2018
  • £15m
    2019
  • £32m
    2020
  • £71m
    2021
  • £108m
    2022

The majority of our portfolio is the Married Quarters Estate which is all in England and Wales.  About 84% of the MQE by Fair Value is in what we think of as the Greater South - East Anglia, Greater London, the South East and the South West.  Most of our homes are in Sites that are part of or close to military bases and the majority are two and three bedroom terraced or semi-detached properties.

Location

  • Wales
  • North
  • Midlands
  • Greater South

Type

  • Flats
  • Detached
  • Terraced
  • Semi Detached

Annington Group Organisational Chart

Investor Enquiries Questions about Annington? Contact us on 020 7960 7500 or email investorenquiries@annington.co.uk