INTEGRATED ANNUAL REPORT (IAR)
The IAR incorporates an overview of our organisation and its key strategic matters, performance and governance. The IAR should be read in conjunction with the AFS, which together provide a comprehensive overview of our organisation.
GROUP ANNUAL FINANCIAL STATEMENTS (AFS)
The statutory AFS prepared in accordance with International Financial Reporting Standards (IFRS), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, the Financial Reporting Pronouncements as issued by the Financial Reporting Council, the Johannesburg Stock Exchange (JSE) Listings Requirements and the requirements of the Companies Act 2008, as amended.
ESG REPORT
The booklet containing additional information relating to environmental, social and governance elements.
ANNUAL GENERAL MEETING (AGM) NOTICE
The booklet containing the AGM notice also includes the summarised audited AFS for FY20, relevant extracts from the IAR supporting the notice and the report to shareholders by the Social, Ethics and Transformation Committee.
GROUP CEO'S REVIEW
For now, we remain alert to opportunities but averse to risk. In the short to medium term, our priorities will be defined by the actions necessary to protect our balance sheet.
Norbert Sasse
Group CEO
AT A GLANCE
High quality physical property assets
R166.7 bnGroup Property Asset Value
7 092 589 millionSquare meters of space
REITLargest South African primary listed
DiversifiedSector – Retail, Office, Industrial
Geography – South Africa, Poland,
Romania, Australia and United Kingdom
11th YearInclusion in the FTSE/JSE Responsible Index
ORGANISATIONAL OVERVIEW
"Our retail, office and industrial property portfolios in SA are among the country’s largest."
- We have an interest in 58 properties in Australia through our 62.2% investment in Growthpoint Properties Australia (GOZ),
- 62 properties in Central and Eastern Europe through our 29.4% investment in Globalworth (GWI) and
- Seven community shopping centres in the UK, through our 52.1% investment in Capital & Regional (C&R).
STRATEGIC THRUSTS
Our three stated strategic thrusts, which are aligned with our vision "to be a leading international property company providing space to thrive", remained our focus in FY20 and we made good progress in the first three quarters of the financial year. The Covid-19 lockdown commencing at the beginning of our fourth quarter compelled us to focus on managing business operations during an uncertain time.
GOVERNANCE
The Board and Executive Management strive to create maximum shared value through ensuring the relevance and sustainability of the business model, by monitoring and responding to the macro environment, the availability of capital inputs and stakeholder needs, all of which informs the strategy.
