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2019 Annual Results
Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)
2019 Annual Results
Raven today announces its audited results for the year ended 31 December 2019
Highlights
• Net operating Income up 7% to £126.5million (2018: £118.3million)
• Underlying earnings increase by 116% to £43.2million (2018: £20.0million) and IFRS earnings to
£46.0million (2018: loss of £120.7million)
• Basic earnings per share 8.16p (2018: loss per share 18.81p)
• Diluted Net Asset Value per share 75p (2018: 48p)
• Occupancy today 92%
• Investment property valuation £1.34billion (2018: £1.18billion)
• Cash balances today of £104.4million
.
CEO Glyn Hirsch said “We are very proud of these excellent results which demonstrate the potential of our busines
Understandably given recent events our focus is now on managing the business through this volatile period.”
INFORMATION REQUIRED TO BE DISCLOSED UNDER THE JSE LISTING RULES
Income Statement for the year ended: 31 December 2019 31 December 2018 Change
Net Rental and Related Income £126.5m £118.3m £8.2m
Operating profit £173m £(32)m £204m
Headline EPS basic 0p (0.96)p 0.96p
Headline EPS diluted 0p (0.96)p 0.96p
EPS Basic 8.16p (18.81)p 26.97p
EPS Diluted 7.5p (18.81)p 26.31p
Distribution per share 3.5p 3p 0.5p
Balance Sheet at: 31 December 2019 31 December 2018 Change
Net Asset Value £365.8m £295.6m £70.2m
Extract from audited 2019 Annual Results
This short-form announcement is the responsibility of the Directors of Raven. The information disclosed is
only a summary of the information contained in the full announcement and does not contain full or
complete details. The full audited 2019 Annual Results announcement should be considered for any
investment decision. and is available for viewing on the JSE’s website at
https://senspdf.jse.co.za/documents/2020/jse/isse/rave/fy2019.pdf and on the Company’s website at
https://www.theravenpropertygroup.com/investors/results-reporting/2019 . The full audited 2019 Annual
Results announcement is also available for inspection at the Company’s registered office and the offices
of our JSE sponsor during normal business hours, at no charge. Alternatively, copies of the full
announcement may be requested from the Company via email at investorrelations@ravenrussia.com.
16 March 2020
JSE Sponsor: Rencap Securities (Pty) Limited
About Raven Property Group
Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia
and lease to Russian and International tenants. Its Ordinary Shares and preference shares are listed on
the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing
Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have
a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock
Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the
SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow
and Cyprus and has an investment portfolio of circa 1.9 million square metres of Grade "A" warehouses
in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novgorod and 49,000 square metres
of commercial office space in St Petersburg. For further information visit the Company's website:
www.theravenpropertygroup.com
Date: 16-03-2020 09:00:00
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