Financial Highlights

We’re proud to be one of the largest owners of residential real estate in the UK. Our portfolio of almost 40,000 residential properties were acquired from the Ministry of Defence in 1996, and leased back to them for 200 years. As you can see below, we’re financially stable with reliable, long-term cash-flows.

Highlights from Financial Year 2024

  • The carrying value of the Group’s investment properties decreased to £7.4 billion (2023: £7.8 billion).
  • At 31 March 2024, the Group held 38,497 residential property units, of which 36,720 are part of the Married Quarters Estate leased to the UK Ministry of Defence (2023: 39,542 Units, 37,100 MQE).
  • Gross Rental income was £242.0 million (2023: £219.3 million).
  • Adjusted EBITDA was £214.9 million (2023: £193.8 million).
  • Loss after taxation was £103.4 million (2023: loss of £627.2 million).
  • The Group sold 1,045 (2023: 394) investment properties and recognised £268.6 million (2023: £95.5 million) in gross sales proceeds.
  • The Group repurchased £312.3m of the Sterling 2025 bonds in February 2024.
  • The Group’s cash balance at 31 March 2024 was £196.4 million, with cash being held to fund capital payments and the working capital requirements of the Group.

The majority of our portfolio is the Married Quarters Estate which is all in England and Wales.  About 84% of the MQE by Fair Value is in what we think of as the Greater South - East Anglia, Greater London, the South East and the South West.  Most of our homes are in Sites that are part of or close to military bases and the majority are two and three bedroom terraced or semi-detached properties.

Location

  • Wales
  • North
  • Midlands
  • Greater South

Type

  • Flats
  • Detached
  • Terraced
  • Semi Detached

Annington Group Organisational Chart

Investor Enquiries Questions about Annington? Contact us on 020 7960 7500 or email investorenquiries@annington.co.uk