Strategic Report
Financial Statements
Additional Information
Governance
120p NAV per share (2021: 97p, 2020: 93p) 3.4p Dividends per share (2021: 2.8p, 2020: 3.5p)
EPRA Best Practices Recommendations The EPRA key performance measures for the year are set out on page 3 of the Report, with more detail provided in the Supplementary Disclosures section which starts on page 139. Alternative performance measures We use a number of alternative performance measures (APMs) when reporting on the performance of the business and its financial position. These do not always have a standard meaning and may not be comparable to those used by other entities. However, we use industry standard measures and terminology where possible. In common with many other listed property companies we report the EPRA performance measures. We have reported these for a number of years in order to provide a consistent comparison with similar companies. In the Additional Information section of this Report we provide more detailed information and reconciliations to IFRS where appropriate. Our key performance indicators include three of the key EPRA measures but also total return, total property return, property income return, total shareholder return, loan to value ratio, cost ratio, occupier retention rate, employee satisfaction and EPC ratings. The definition of these measures, and the rationale for their use, is set out in the Key Performance Indicators section. EPRA’s mission The European Public Real Estate Association’s (EPRA) mission is to promote, develop and represent the European public real estate sector. As an EPRA member, we fully support the EPRA Best Practices Recommendations which recognise the key performance measures, as detailed above. Specific EPRA metrics can be found within the KPIs and Financial Review sections of this Report with further disclosures and supporting calculations on pages 139 to 141.
115% Dividend cover (2021: 134%, 2020: 105%) 3.9p EPRA earnings per share (2021: 3.7p, 2020: 3.7p) 20.8% Like-for-like valuation gain (2021: 3.2%, 2020: 1.4%)
Picton Property Income Limited Annual Report 2022
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