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Key Performance Indicators
Measuring the success of the business We have a range of key performance indicators that we use to measure the performance and success of the business.
Financial KPIs Total return (%) -0.9%
Total shareholder return (%) -1.0%
Total property return (%) 1.6%
2024 2023 2022
2024 2023 2022
2024 2023 2022
-0.9
-1.0
1.6
-13.9
-26.4
-8.7
28.3
18.7
24.3
Why we use this indicator The total return is the key measure of the overall performance of the Group. It is the change in the Group’s net asset value, calculated in accordance with IFRS, over the year, plus dividends paid. The Group’s total return is used to assess whether our aim to be one of the consistently best performing diversified UK REITs is being achieved, and is a measure used to determine the annual bonus.
Why we use this indicator The total shareholder return measures the change in our share price over the year, plus dividends paid. We use this indicator because it is the return seen by investors on their shareholdings. Our total shareholder return relative to a comparator group is a performance metric used in the Long-term Incentive Plan.
Why we use this indicator The total property return is the combined income and capital return from our property portfolio for the year, as calculated by MSCI. We use this indicator because it shows the success of the portfolio strategy without the impact of gearing and corporate costs. Our total property return relative to the MSCI UK Quarterly Property Index is a performance condition for both the annual bonus and the Long-term Incentive Plan.
1 2 3
1 2 3
1 2 3
Our performance in 2024 We have grown EPRA earnings this year, but this has been offset by the adverse valuation movements over the year.
Our performance in 2024 In line with the property sector generally, our share price has declined over the year.
Our performance in 2024 We have outperformed the MSCI UK Quarterly Property Index for the eleventh consecutive year, delivering a return of 1.6% compared to the Index return of -1.0% for the year. We have also delivered upper quartile outperformance against MSCI over three, five and ten years, and since launch in 2005.
Picton Property Income Limited / Annual Report 2024 20
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