Segmental analysis

for the year ended 30 June

Somerset Mall, Western Cape

 
 
 

 

 
 
 
Property portfolio Statement of profit or loss and other comprehensive income Statement of financial position
Rentable
area
m2
Total value
R000
Value
attributable
to Hyprop
R000
Revenue(5)
R000   
Distributable
earnings
R000
  Receivables
R000
Payables
R000
Loans(1)
R000   
 
2018
Shopping centres 653 258 30 027 300 27 351 847 2 684 578 1 792 727   80 322 314 660
Value centres 48 848 1 303 000 1 303 000 151 214 106 796   6 450 11 818
Total retail 702 106 31 330 300 28 654 847 2 835 792 1 899 523   86 772 326 478
Standalone offices 4 468 125 000 125 000 11 222 6 055   265 2 094
Held-for-sale(2) 15 886 198 000 198 000 35 944 23 477   1 101 8 157
Sold during 2018 10 797 8 606  
Investment property 722 460 31 653 300 28 977 847 2 893 755 1 937 661   88 138 336 729
Investments in sub-Saharan Africa (excluding South Africa) 2 069 354 223 730 78 368   54 039 44 689 4 935 716  
Investments in South-Eastern Europe 30 979 187 802  
Other South African subsidiaries 2 918 721 16 544 6 275
Other income 46 671  
Fund management 75 (65 142)   100 451 106 554 2 949 278  
Net interest (280 846)  
Straight-line rental income accrual (3 847)
Investment property – group 722 460 31 653 300 33 996 901 3 113 713 1 904 514   259 172 494 247 7 884 994  
Reconciliation to statement of financial position
Centre management assets 1 741
Held-for-sale(3) 4 592 (1 101) (8 157)
Loan receivable 18 724
Derivative instruments 7 661
Other current assets 1 135 857
35 165 476 3 113 713 1 904 514   258 071 486 090 7 884 994  
Note 11 20 17  
June 2017
Shopping centres 644 196 29 105 600 26 490 589 2 580 200 1 723 648   71 132 278 609
Value centres 48 848 1 248 000 1 248 000 139 857 102 490   6 579 12 337
Total retail 693 044 30 353 600 27 738 589 2 720 057 1 826 138   77 711 290 946
Standalone offices 4 468 117 000 117 000 12 586 6 527   199 2 029
Held-for-sale(4) 33 406 418 798 418 798 68 780 47 930   6 324 13 074
Sold during 2017 74 178 36 332  
Investment property 730 918 30 889 398 28 274 387 2 875 601 1 916 927   84 234 306 049
Investments in sub-Saharan Africa (excluding South Africa) 4 975 564 249 902 56 972   40 066 80 559 4 950 717  
Investments in South-Eastern Europe 101 823  
Other South African subsidiaries 2 559 1 140 3 169
Other income 36 533  
Fund management (67 347)   111 625 112 978 4 113 776  
Net interest (321 336)  
Straight-line rental income accrual 39 587
Investment property - group 730 918 30 889 398 33 249 951 3 167 649 1 723 572   237 065 502 755 9 064 493  
Reconciliation to statement of financial position
Centre management assets 4 794
Held-for-sale(3) 7 883 (6 324) (13 074)
Loan receivable 17 434
Derivative instruments 10 315
Other current assets 1 356 491
34 646 868 3 167 649 1 723 572   230 741 489 681 9 064 493  
Note 11 20 17  
(1) Includes financial guarantee
(2) Includes Lakefield Office Park
(3) Working capital held-for-sale
(4) Willowbridge North and Lakefield Office Park
(5) Note – no single tenant or tenant group represents more than 10% of the group’s revenue

Reconciliation to statement of profit or loss and other comprehensive income

A reconciliation of distributable earnings to total profit for the year attributable to shareholders of the company is as follows:

  2018 
R000 
   2017 
R000 
  
Distributable earnings(1)  1 904 514     1 723 572    
Adjusted for: 
Change in fair value of investment property  646 359     1 181 786    
Change in fair value of derivatives  29 085     (5 074)   
Profit on disposal of investment property  2 697     2 031    
Loss on disposal of investments  (2 557)   
(Impairment)/reversal of impairment of joint venture  (10 102)    10 103    
Impairment of goodwill  (18 134)   
Investments in sub-Saharan Africa (excluding SA) 32 642    
Derecognition of financial guarantee  11 984    
Investments in South African subsidiaries      (1 212)   
Investments in South-Eastern Europe  44 221    
Impairment of loan  (166 441)    (25 377)   
Recognition of financial guarantee  87 761     (163 855)   
Loss on vesting of shares  (5 048)   
Capital items not included for distribution purposes  54 552     (1 106)   
Non-controlling interest in investments in sub-Saharan Africa (excluding SA) 8 543    
Taxation  (39 486)    (4 340)   
Total profit for the year attributable to shareholders of the company   2 529 466     2 767 652    
Shares in issue for distribution per share (excludes treasury shares) 255 448 256     247 899 032    
Refer to note 14Stated capital 
Distribution per share (based on distributable earnings) 756,5     695,1    

(1) This amount differs to the actual dividend due to rounding of the dividend per share. Refer to note 27 – Dividends and distributions