Full Year Results Presentation
EPRA balance sheet
31 March 2020 i
Group
JVs & Funds
31 March 2021
Total properties (£m) 1
11,177
6,118
3,022
9,140
Adjusted net debt (£m)
(3,854)
(2,071)
(867)
(2,938)
Other net liabilities (£m)
(121)
(103)
(49)
(152)
EPRA Net Tangible Assets (£m)
7,202
3,944
2,106
6,050
Loan to value (LTV)²
34.0% i
32.0%
I
T
Weighted average interest rate
2.5%
2.9%
I
Interest cover
3.8x
|
3.0x
I
I
Weighted average maturity of drawn debt (years)
7.5'
7.6
I
1Included within the total property value of £9,140m (2019/20: £11,177m) are right-of-use assets net of lease liabilities of £8m (2019/20: £20m), which in substance, relate to properties held under leasing
agreements. The fair value of right-of-use assets are determined by calculating the present value of net rental cashflows over the term of the lease agreements..
2On a proportionally consolidated basis including the Group's share of Joint ventures and Funds and excluding non-controlling interests in the Group's subsidiaries
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