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Unite Group (UTG)

Property Investment Trusts

951.00p

Trade now with Barclays Stockbrokers

	£ (Millions)	£ (Millions)	£ (Millions)	£ (Millions)	£ (Millions)
	31-Dec-23	31-Dec-22	31-Dec-21	31-Dec-20	31-Dec-19
Continuing Operations
Revenue	276.10	259.30	266.90	215.60	156.20

EBITDA	204.00	116.10	104.60	188.50	148.30
Depreciation & Amortisation	(70.40)	(65.20)	(6.70)	(13.50)	n/a

Operating Profit/(Loss)	133.60	50.90	97.90	175.00	148.30
Interest Payable	(43.40)	33.50	n/a	(86.60)	(38.40)
Interest Receivable/Investment Income	n/a	n/a	(36.00)	5.60	5.50

Group Profit after Interest	90.20	84.40	61.90	108.90	115.40
Share of Assoc Cos/JV Profits	27.00	80.40	122.40	(11.60)	n/a

Profit Before Tax	117.20	164.80	184.30	97.30	115.40
Tax	1.10	(0.10)	2.80	(2.10)	13.60

Profit After Tax	118.30	164.70	187.10	95.20	129.00

Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a

PROFIT FOR PERIOD	118.30	164.70	187.10	89.50	129.00

Attributable to:
Equity Holders of Parent Company	117.20	163.40	185.00	90.70	129.00
Minority Interests	(1.10)	(1.30)	(2.10)	1.20	n/a

Equity Dividends	_cn/a	_cn/a	_cn/a	_cn/a	_cn/a
Retained Profit/(Loss) for the Financial Year	_c117.20	_c163.40	_c185.00	_c90.70	_c129.00

Per Share Record - Normalised	31-Dec-23	31-Dec-22	31-Dec-21	31-Dec-20	31-Dec-19
Continuing EPS
Earnings per Share - Basic	28.19p	40.89p	46.40p	25.28p	45.62p
Earnings per Share - Diluted	28.11p	40.83p	46.30p	25.22p	45.43p
Earnings per Share - Adjusted	44.30p	40.90p	27.60p	25.50p	39.10p
Continuing and Discontinued EPS
Earnings per Share - Basic	28.19p	40.89p	0.47p	23.78p	45.62p
Earnings per Share - Diluted	28.11p	40.83p	0.47p	23.73p	45.43p
Earnings per Share - Adjusted	44.30p	40.90p	27.60p	25.50p	39.10p

Dividend per Share	35.40p	32.70p	22.10p	12.75p	10.25p

Key Financals	31-Dec-23	31-Dec-22	31-Dec-21	31-Dec-20	31-Dec-19
Shares in Issue (millions)
Shares in Issue - Year End	435.85	400.32	399.14	398.17	363.59
Weighted Average	415.73	399.58	398.74	381.38	282.80
Diluted	416.90	400.16	399.57	382.25	283.96

Performance Ratios
Continuing Operations
Operating Margin	48.39%	19.63%	36.68%	81.17%	94.94%
Return on Capital Employed	n/a	n/a	n/a	n/a	n/a
Continuing Operations & Discontinued Operations
Return on Equity	2.88%	4.31%	0.05%	2.80%	4.20%

Financial Status
Continuing Operations
Interest Cover - Continuing	3.70	(3.92)	n/a	2.12	4.01
Revenue per Share	66.41p	64.89p	0.68p	56.53p	55.23p
Pre-Tax Profit Per Share - Continuing	28.19p	41.24p	0.47p	25.51p	40.81p

Market Data
Continuing Operations
Earnings Per Share Growth - Basic	-31%	-12%	84%	-45%	34%
Earnings Per Share Growth - Diluted	-31%	-12%	84%	-44%	34%
PE Ratio - Company Adjusted	37.0	22.3	23.9	41.3	27.6
PEG - Company Adjusted	n/a	n/a	0.3	n/a	0.8
Dividend Cover	0.80	1.25	2.10	1.98	4.45
Continuing Operations & Discontinued Operations
Earnings per Share - Company Adjusted	-31%	8,632%	-98%	-48%	34%
Earnings per Share - Diluted	-31%	8,637%	-98%	-48%	34%
PE Ratio - Company Adjusted	37.0	22.3	2,371.2	43.9	27.6
PEG - Company Adjusted	n/a	0.0	n/a	n/a	0.8
Dividend Cover	0.80	1.25	0.02	1.87	4.45

Market Capitalisation £ (Millions)	4,550.32	3,642.89	4,432.45	4,160.88	4,581.26
Dividend per Share	35.40p	32.70p	22.10p	12.75p	10.25p
Dividend Yield	3.4%	3.6%	2.0%	1.2%	0.8%
Dividend per Share Growth	8.26%	47.96%	73.33%	24.39%	(64.66%)

* GAAP

a. Includes discontinued activities

b. Includes preference dividends

c. Not disclosed under IFRS

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Forecast figures based on normalised accounts.