Key Performance Indicators continued
EPRA KPIs
EPRA NTA per share (pence)
EPRA vacancy rate (%)
G
I
2022 2021 2020
2022 2021 2020
120
7.2
97
8.8
93
11.5
Why we use this indicator The EPRA net tangible assets (NTA) per share, calculated in accordance with EPRA, measures the value of shareholders’ equity in the business. We use this to measure the growth of the business over time and regard this as the most relevant net asset metric for the business.
Why we use this indicator The vacancy rate measures the amount of vacant space in the portfolio at the end of each financial period, and over the long-term, is an indication of the success of asset management initiatives undertaken.
Our performance in 2022 The EPRA NTA per share has increased by 24.4% this year, due to valuation gains, particularly in the industrial portfolio.
Our performance in 2022 Recently refurbished space has been let over the year as Covid-19 restrictions were lifted and occupiers seek best in class space.
3
1
3
1
2
2
EPRA earnings per share (pence)
H
2022 2021 2020
3.9
3.7 3.7
Why we use this indicator The earnings per share, calculated in accordance with EPRA, represents the earnings from core operational activities and excludes investment property revaluations, gains/losses on asset disposals and any exceptional items. We use this because it measures the operating profit generated by the business from the core property rental business. The growth in EPRA earnings per share is also a performance measure used for the annual bonus and the Long-term Incentive Plan.
Our performance in 2022 EPRA earnings per share has increased to 3.9 pence as a consequence of higher occupancy, reduced provisions against income receivable and additional income from property acquisitions.
3
1
2
Picton Property Income Limited Annual Report 2022
30
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