Annual Report 2019

Our 2019 Annual Report

Welcome to Landsec. We apply our expertise to create positive experiences for those we rely on, from our customers and communities to our partners and employees. By getting that right, we create long-term, sustainable value for our shareholders and physical and social value for our communities.

Mark Allan, Chief Executive
Download the Chief Executive's statement PDF

27.0p

Dividend per share, up 16.4%

33.9p

Adjusted diluted earnings per share (2020: 55.9p)

985p

EPRA net tangible assets per share, down 17.4%

-15.9%

Total business return (2020: -8.2%)

£(1,393)m

Loss before tax (2020: £(837)m)

£6.5m

Social value created during the year

Welcome to Landsec. We apply our expertise to create positive experiences for those we rely on, from our customers and communities to our partners and employees. By getting that right, we create long-term, sustainable value for our shareholders and physical and social value for our communities.

27.0p

Dividend per share, up 16.4%

33.9p

Adjusted diluted earnings per share (2020: 55.9p)

985p

EPRA net tangible assets per share, down 17.4%

-15.9%

Total business return (2020: -8.2%)

£(1,393)m

Loss before tax (2020: £(837)m)

£6.5m

Social value created during the year

This is Landsec

This is Landsec

+29%

Growth in UK leisure spend 2013-2018

23%

Percentage of our regional retail portfolio let to leisure tenants

45%

Percentage of occupiers who will make use of flexible space in next three years

38,290

Number of businesses with 10-99 employees in London

1/3

of employment opportunities we've created were for ex-offenders

£1.2m

Social value created through our Community Employment Programme in 2018

23%

Percentage of UK consumers who visited a pop-up shop last year

975

Number of different consumer brands in our portfolio

25%

By 2020 only a quarter of 30-year-olds will own their own home

4.5m

Number of households in the private rented sector has doubled since 2000

Our market

The early part of the financial year was affected by significant political uncertainty. However, following the general election in December 2019, there was an initial wave of optimism and clear signs of an improving economic outlook and real estate market. This was halted abruptly by the effect of, and response to, the Covid-19 pandemic in the final weeks of the financial year.

Myo – our flexible office offering
Myo – our flexible office offering
Myo – our flexible office offering

Our strategy

We create shareholder and social value by providing the right space for our customers and communities so that people and businesses can thrive.

Read more

Our business model

To create value, we buy, develop, manage and sell property, drawing on a range of financial, physical and social resources along the way.

Our £10.8bn portfolio

We focus on maximising financial, physical and social value by providing the spaces and environments that allow businesses and people to thrive. Our Combined Portfolio includes office space in London, and retail, leisure and hotel assets across the UK.

Download our Operating and portfolio review

More on our business

Sustainability

Good governance is vital in any year, but this year it has been a critical foundation for Landsec’s response to Covid-19, providing a framework for effective decision-making and addressing the changing needs of our stakeholders.

Read more

Performance

We set financial and non-financial KPIs in line with our strategy. They provide clear direction for our people and a measure of our progress in 2021.

Read more

Corporate governance

Strong corporate governance and culture underpins performance, inspires trust and is essential to Landsec’s long-term success.

Read more

Investor Relations

Edward Thacker

Edward Thacker

Investor Relations - equity

+44 (0) 20 7413 9000