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Trading and debt funding update
ATTACQ LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
("Attacq" or "the Company" or "the Group")
TRADING AND DEBT FUNDING UPDATE
RETAIL-EXPERIENCE HUBS' OPERATING PERFORMANCE UPDATE
The turnovers and footcount for all our retail-experience hubs recorded pleasing growth in November 2022
and December 2022 when compared to the comparative periods in 2021.
November Turnover Footcount
2022 vs 2021 % 2022 vs 2021 %
Dec Nov Dec Nov
Super-regional
Mall of Africa 19.1 17.6 15.5 10.8
Regional
Brooklyn Mall 5.4 5.9 3.6 4.9
Eikestad Mall 14.9 12.6 9.4 5.2
Garden Route Mall 12.8 7.9 10.2 5.7
MooiRivier Mall 14.2 9.1 9.0 5.8
Convenience
Glenfair Boulevard 3.9 8.2 * *
Lynnwood Bridge retail 28.3 24.4 * *
Neighbourhood
Waterfall Corner 18.1 8.8 * *
* Footcount not tracked due to retail-experience hub layout
Total turnover increased from 2021 by 12.6% and 15.0% for the months of November 2022 and December 2022
respectively.
Mall of Africa's performance was especially pleasing, with an increase in December 2022 turnovers in the
following categories: Unisex wear (19.7%), Department stores (18.4%), Restaurants (45.0%), Cosmetics and
Perfume (125.5%) and Shoes (29.0%). These increases, plus the increases in November 2022, lead to a total
client turnover exceeding R1.3 billion for the two months combined.
Mall of Africa's footcount in November 2022 and December 2022 increased year-on-year by 10.8% and 15.5%
respectively. Black Friday specials took place over the last two weeks of November 2022 with more shoppers
visiting Mall of Africa on Saturday, 26 November 2022 than on Friday, 25 November 2022. The continued
success of the leasing strategy at Mall of Africa is evidenced by our replacement clients' performance and
the increased foot count.
Lynnwood Bridge Retail's turnover growth of 24.4% and 28.3% during November 2022 and December 2022
respectively was largely driven by its newly introduced restaurants, namely Tashas, Lupa Osteria and Cowfish.
Waterfall Corner had a positive increase in turnover in November 2022 and December 2022. December sales
increased in the following categories: Grocery (33.3%), Restaurant (34.0%), Beauty and Spa (21.0%) and
Coffee (15.0%).
Eikestad Mall's positive turnover increases during November 2022 and December 2022 can be attributed to
its revised leasing strategy bearing fruit for new and existing clients.
COLLABORATION HUB LEASING UPDATE
Lynnwood Bridge collaboration hubs are fully let but for one space pocket of 1 233m2 (2.6% vacancy) which
is currently under offer. There is currently 4 500m2 of collaboration hub space under offer at Waterfall City.
DEBT FUNDING AND LIQUIDITY UPDATE
In the pre-close presentation of November 2022, it was disclosed that the Group was in the process of
refinancing R1.0 billion of term loan facilities. These refinances have been successfully concluded. The
weighted average cost of debt on the refinanced facilities decreased by 64 basis points after the refinance,
and the weighted average term to maturity on the refinanced facilities increased from 1.5 years to 3.2 years.
There are no term loan facilities maturing during the 2023 calendar year.
20 January 2023
Sponsor
Java Capital
Date: 20-01-2023 03:02:00
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