About this report
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Organisational overview
download this sectionPerformance review
download this sectionRSA performance
download this sectionGroup investment performance
download this sectionGovernance
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To be a leading international property company, providing space to thrive.
We create value for all our stakeholders through innovative and sustainable property solutions.
495
High quality physical
property assets
R152.8bn
Group property asset value
7 089 573
Square metres of space
REIT
Largest South African
primary listed on the JSE
12th year
Inclusion in the FTSE/JSE
Responsible Index
Diversified
Sector – Retail, Office, Industrial, Healthcare, Trading and Development
Geography – South Africa, Australia, Poland, Romania and United Kingdom
Income streams – Property income, funds management and trading and development
Refining our strategies and implementing them in a capital-constrained environment is a noteworthy achievement.
Norbert Sasse Group CEO
GROUP CEO’S REVIEW
We remain focused on our three strategic thrusts, which are aligned with our vision
"to be a leading international property company providing space to thrive".
Internationalisation
Given the weakening macro-economic environment in South Africa, the growth of our offshore business remains a key driver and priority for Growthpoint. We pursue this strategy while preserving our balance sheet strength and ensuring that our LTV ratio remains at an acceptable level. Our internal threshold is 40%, in line with ratings agency Moody’s maximum LTV ratio requirement of 40% to maintain our Aa1.za. domestic rating.
Streamlining and optimising our RSA portfolio
Growthpoint's domestic property portfolio has grown through mergers and acquisitions, each adding a different portfolio of individual property assets which meet the acquisition criteria, as well as some that don't. We currently have several non-core assets for disposal, which either don't align with our criteria or are inappropriately located to facilitate efficiency and management excellence.
New income streams from:
Our conservative approach to business stood us in good stead and, together with the strength of our skilled management and staff, has laid a solid foundation for this unprecedented time.
Francois Marais Chairman
Chairman’s review
Falling asset values over the past three reporting periods led to LTVs initially going up, but this situation has now stabilised as a result of conservative debt management.
Gerald Völkel Group Financial Director
Financial Director’s review
All buildings within direct control of the organisation to operate at net zero carbon by 2030 and all buildings by 2050.
To give all stakeholders confidence that Growthpoint is a wellgoverned and wellconducted business.
