Announcement • Jul 01
Hammerson Plc (LSE:HMSO) commences an Equity Buyback Plan for 53,163,183 shares, representing 10% of its issued share capita, under the authorization approved on April 30, 2026. Hammerson plc (LSE:HMSO) commences share repurchases on June 29, 2026, under the program mandated by the shareholders in the Annual General Meeting held on April 30, 2026. As per the mandate, the company is authorized to repurchase up to 53,163,183 shares, representing 10% of its issued share capital. The minimum price which may be paid for any such share is £0.05 and the maximum price (excluding expenses) which may be paid for any such share is the higher of an amount equal to 105% of the average of the middle market quotations for an ordinary share in the company as derived from The London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the company. The repurchased shares will be held in treasury or will be cancelled. The program will be valid till the next Annual General Meeting or till July 30, 2027, whichever is earlier. As of March 20, 2026, the company had 531,631,836 ordinary shares in issue and had 422,757 shares in treasury. Announcement • May 03
Hammerson plc Announces Chief Financial Officer Changes Hammerson PLC announced that Himanshu Raja informed the Board of his intention to retire from his position as Chief Financial Officer. He will step down as CFO of the Company on August 12, 2026, following publication of the Company's results for the half-year ended June 30, 2026. After five years as Hammerson's CFO and a career spanning 40 years with 15 years as a listed company CFO, across a multitude of sectors, Himanshu has decided now is the right time for him to retire. Himanshu will remain employed by the Company for the next 12 months. During this period, he will remain available to assist with an orderly transition. Richard Shaw, Deputy CFO, will become Interim CFO when Himanshu steps down. The Board will now commence a formal and thorough recruitment process to identify a permanent successor for Himanshu, which will include consideration of internal and external candidates. Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: UK£0.46 (vs UK£0.09 loss in FY 2024) Full year 2025 results: EPS: UK£0.46 (up from UK£0.09 loss in FY 2024). Revenue: UK£264.3m (up 32% from FY 2024). Net income: UK£232.1m (up UK£276.9m from FY 2024). Profit margin: 88% (up from net loss in FY 2024). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in South Africa. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • Mar 18
Upcoming dividend of UK£0.086 per share Eligible shareholders must have bought the stock before 25 March 2026. Payment date: 08 May 2026. Trailing yield: 5.0%. Lower than top quartile of South African dividend payers (8.0%). Lower than average of industry peers (6.3%). New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Significant insider selling over the past 3 months (R10m sold). Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: UK£0.46 (vs UK£0.09 loss in FY 2024) Full year 2025 results: EPS: UK£0.46 (up from UK£0.09 loss in FY 2024). Revenue: UK£211.4m (up 5.3% from FY 2024). Net income: UK£443.5m (up UK£488.3m from FY 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, while revenues in the Retail REITs industry in South Africa are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Hammerson Plc, Annual General Meeting, Apr 30, 2026 Hammerson Plc, Annual General Meeting, Apr 30, 2026. Announcement • Jan 28
Hammerson Plc to Report Fiscal Year 2025 Results on Feb 25, 2026 Hammerson Plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Feb 25, 2026 Announcement • Jan 07
Hammerson plc Announces Termination of Rita-Rose Gagne as Director, Effective January 1, 2026 Hammerson PLC announced the termination of MS Rita-Rose Gagne as director, Effective January 1, 2026. Recent Insider Transactions • Dec 24
CEO & Executive Director recently sold R10m worth of stock On the 17th of December, Rita-Rose Gagne sold around 150k shares on-market at roughly R69.69 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Rita-Rose's only on-market trade for the last 12 months. Announcement • Dec 05
Hammerson plc Announces Board and Committee Changes Hammerson plc announced that Méka Brunel, a Non-Executive Director of the Company, has notified the Board that she will step down as a Director on December 31, 2025. Méka is a member of the Remuneration and Nomination & Governance Committees. With effect from January 1, 2026, Robert Noel will become a member of the Remuneration Committee. Announcement • Oct 10
Hammerson plc Updates Earnings Guidance for the Fiscal Year 2025 Hammerson Plc updated earnings guidance for the fiscal year 2025. For the period, company now expect earnings to be around £101 million. Announcement • Sep 09
Hammerson Announces CEO Changes Hammerson named Rob Wilkinson, former chief executive of AEW Europe, as its own next CEO, taking over the reins from Rita-Rose Gagné at the start of next year. Wilkinson led AEW Europe for more than 11 years, joining in 2009 as chief investment officer in Europe and becoming chief executive in 2014. He was a non-executive director at Grainger from 2015 to 2023 and has been a non-exec at Derwent London since 2024. Upcoming Dividend • Aug 27
Upcoming dividend of UK£0.079 per share Eligible shareholders must have bought the stock before 03 September 2025. Payment date: 16 October 2025. Trailing yield: 5.4%. Lower than top quartile of South African dividend payers (8.1%). Lower than average of industry peers (6.6%). Reported Earnings • Aug 05
First half 2025 earnings released: EPS: UK£0.16 (vs UK£0.048 loss in 1H 2024) First half 2025 results: EPS: UK£0.16 (up from UK£0.048 loss in 1H 2024). Revenue: UK£136.9m (up 37% from 1H 2024). Net income: UK£78.7m (up UK£102.8m from 1H 2024). Profit margin: 57% (up from net loss in 1H 2024). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Global Retail REITs industry. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 03
First half dividend of UK£0.079 announced Shareholders will receive a dividend of UK£0.079. Ex-date: 3rd September 2025 Payment date: 16th October 2025 Dividend yield will be 2.9%, which is lower than the industry average of 8.1%. New Risk • Aug 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 4.9% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.9% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Aug 01
Hammerson Plc has completed a Follow-on Equity Offering in the amount of £138.488963 million. Hammerson Plc has completed a Follow-on Equity Offering in the amount of £138.488963 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,253,994
Price\Range: £2.87
Transaction Features: Regulation S; Subsequent Direct Listing Announcement • Jul 31
Hammerson plc Declares Interim Dividend for the Financial Year Ending 31 December 2025, Payable on October 16, 2025 The Board of Directors of the Hammerson Plc has declared an interim dividend of 7.94 pence per ordinary share ("Share") for the financial year ending 31 December 2025. The Interim 2025 Dividend is payable on 16 October 2025 to shareholders on the register at the close of business on 5 September 2025. Buy Or Sell Opportunity • Jun 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to R74.31. The fair value is estimated to be R61.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 53%. Announcement • May 22
Hammerson Plc (LSE:HMSO) acquired an additional 59% stake in Brent Cross Association Limited from abrdn UK Shopping Centre Trust for approximately £190 million. Hammerson Plc (LSE:HMSO) agreed to acquire an additional 59% stake in Brent Cross Association Limited from abrdn UK Shopping Centre Trust for approximately £200 million on May 12, 2025.
Hammerson Plc (LSE:HMSO) completed the acquisition of an additional 59% stake in Brent Cross Association Limited from abrdn UK Shopping Centre Trust on May 21, 2025. The purchase price is a net cash consideration of approximately £190 million. Announcement • May 12
Hammerson Confirms It Is in A Process to Acquire the Units in the abrdn UK Shopping Centre Trust In response to recent press speculation, Hammerson Plc (LSE:HMSO) confirmed it is in a process to acquire the units in the abrdn UK Shopping Centre Trust ("SCUT"), which holds the 59% of Brent Cross not already held by Hammerson for a net cash consideration of around £200 million. Hammerson's existing managing stake, together with the SCUT units already acquired or for which binding contracts have been exchanged, currently represents an economic interest in Brent Cross of over 90%. The process is ongoing and a further update will follow in due course. Upcoming Dividend • Apr 16
Upcoming dividend of UK£0.081 per share Eligible shareholders must have bought the stock before 23 April 2025. Payment date: 03 June 2025. Trailing yield: 6.3%. Lower than top quartile of South African dividend payers (8.7%). Lower than average of industry peers (7.4%). Announcement • Mar 19
Hammerson Plc, Annual General Meeting, May 15, 2025 Hammerson Plc, Annual General Meeting, May 15, 2025. Location: marble arch house, 66 seymour street, w1h 5bx, london United Kingdom Recent Insider Transactions • Mar 06
Independent Non-Executive Director recently bought R4.8m worth of stock On the 3rd of March, Habib Annous bought around 76k shares on-market at roughly R63.79 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R8.3m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 27
Full year 2024 earnings released: UK£0.09 loss per share (vs UK£0.10 loss in FY 2023) Full year 2024 results: UK£0.09 loss per share (improved from UK£0.10 loss in FY 2023). Revenue: UK£200.7m (down 17% from FY 2023). Net loss: UK£44.8m (loss narrowed 13% from FY 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Global Retail REITs industry. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 26
Hammerson plc Recommends Final Cash Dividend for the Year Ended December 31, 2024, Payable on June 3, 2025 The Board of Directors of Hammerson Plc has recommended a final cash dividend of 8.07 pence per ordinary share for the period ended 31 December 2024 (the "Final 2024 Dividend"), subject to approval by the shareholders of the Company at the 2025 Annual General Meeting. The dividend Payable on June 3, 2025 with record date of April 25, 2025 and ex-date of April 24, 2025. Announcement • Jan 29
Hammerson Plc to Report Fiscal Year 2024 Results on Feb 26, 2025 Hammerson Plc announced that they will report fiscal year 2024 results on Feb 26, 2025 Announcement • Nov 08
Hammerson Plc (LSE:HMSO) acquired the remaining 50% stake in West Quay Shopping Centre Limited from GIC Private Limited for £135 million. Hammerson Plc (LSE:HMSO) acquired the remaining 50% stake in West Quay Shopping Centre Limited from GIC Private Limited for £135 million on November 7, 2024. The funding for the consideration will come from the proceeds Hammerson recently obtained from selling its stake in Value Retail.
Hammerson Plc (LSE:HMSO) completed the acquisition of the remaining 50% stake in West Quay Shopping Centre Limited from GIC Private Limited on November 7, 2024. Buy Or Sell Opportunity • Nov 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to R68.09. The fair value is estimated to be R56.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has grown by 84%. Buy Or Sell Opportunity • Oct 17
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to R74.77. The fair value is estimated to be R62.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has grown by 84%. Recent Insider Transactions • Aug 15
CFO & Executive Director recently bought R1.4m worth of stock On the 8th of August, Himanshu Raja bought around 223k shares on-market at roughly R6.30 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth R1.9m. Himanshu has been a buyer over the last 12 months, purchasing a net total of R2.8m worth in shares. Upcoming Dividend • Aug 14
Upcoming dividend of UK£0.76 per share Eligible shareholders must have bought the stock before 21 August 2024. Payment date: 30 September 2024. Trailing yield: 5.6%. Lower than top quartile of South African dividend payers (8.6%). Lower than average of industry peers (8.3%). Recent Insider Transactions • Aug 02
Independent Non-Executive Director recently bought R1.9m worth of stock On the 30th of July, Habib Annous bought around 281k shares on-market at roughly R6.74 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 29
First half 2024 earnings released: UK£0.005 loss per share (vs UK£0.007 loss in 1H 2023) First half 2024 results: UK£0.005 loss per share (improved from UK£0.007 loss in 1H 2023). Revenue: UK£100.0m (down 10% from 1H 2023). Net loss: UK£24.1m (loss narrowed 28% from 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Global Retail REITs industry. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 25
Hammerson plc Has Declares Interim Dividend for the Period Ending 31 December 2024, Payable on September 30, 2024 Hammerson Plc has declared an interim dividend of 0.756 pence per ordinary share ("Share") for the period ending 31 December 2024. The Interim 2024 Dividend is payable on 30 September 2024 to shareholders on the register at the close of business on 23 August 2024. Announcement • Jun 26
Hammerson Plc to Report First Half, 2024 Results on Jul 25, 2024 Hammerson Plc announced that they will report first half, 2024 results on Jul 25, 2024 Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Independent Non-Executive Director Habib Annous was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Mar 27
Upcoming dividend of R0.19 per share Eligible shareholders must have bought the stock before 03 April 2024. Payment date: 10 May 2024. Trailing yield: 5.7%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (8.4%). Announcement • Mar 21
Hammerson Plc, Annual General Meeting, Apr 25, 2024 Hammerson Plc, Annual General Meeting, Apr 25, 2024, at 09:00 Coordinated Universal Time. Location: Marble Arch House, 66 Seymour Street London W1H 5BX, United Kingdom London United Kingdom Announcement • Mar 13
Hammerson Plc (LSE:HMSO) commences an Equity Buyback Plan for 499,457,436 shares, representing 10% of its issued share capital, under the authorization approved on May 4, 2023. Hammerson plc (LSE:HMSO) commences share repurchases on March 12, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 4, 2023. As per the mandate, the company is authorized to repurchase up to 499,457,436 ordinary shares, representing 10% of its issued share capital. The minimum price which may be paid for any such share is £0.05 and the maximum price (excluding expenses) which may be paid for any such share is the higher of an amount equal to 105% of the average of the middle market quotations for an ordinary share in the company as derived from The London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the company. The repurchased shares will be held in treasury or will be cancelled. The program will be valid till the next Annual General Meeting or till August 4, 2024, whichever is earlier. As of May 4, 2023, the company had 4,994,574,360 ordinary shares in issue and had 7,691,247 shares in treasury. Reported Earnings • Mar 01
Third quarter 2023 earnings released: UK£0.005 loss per share (vs UK£0.02 loss in 3Q 2022) Third quarter 2023 results: UK£0.005 loss per share (improved from UK£0.02 loss in 3Q 2022). Revenue: UK£8.40m (down 90% from 3Q 2022). Net loss: UK£25.1m (loss narrowed 77% from 3Q 2022). Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Global Retail REITs industry are expected to grow by 1.8%. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 29
Hammerson plc Proposes Final Dividend for Period Ending December 31, 2023, Payable on May 10, 2024 The Board of Directors of Hammerson Plc has recommended a final cash dividend of 0.78 pence per ordinary share ("Share") for the period ended 31 December 2023 (the "Final 2023 Dividend"), subject to approval by the shareholders of the Company at the 2024 Annual General Meeting. The Final 2023 Dividend will be paid as a non-Property Income Distribution,and treated as an ordinary UK company dividend. Dividend Payment Date 10 May, 2024. Announcement • Feb 02
Hammerson Plc to Report Fiscal Year 2023 Results on Feb 29, 2024 Hammerson Plc announced that they will report fiscal year 2023 results on Feb 29, 2024 Announcement • Jan 11
Sofidy SA and Klépierre (ENXTPA:LI) signed an agreement to acquire O'Parinor Shopping Centre from Hammerson Plc (LSE:HMSO) and National Pension Service. Sofidy SA and Klépierre (ENXTPA:LI) signed an agreement to acquire O'Parinor Shopping Centre from Hammerson Plc (LSE:HMSO) and National Pension Service on January 9, 2024. As part of this acquisition, Sofidy and Klépierre agree on a capital partnership (respectively 75% and 25% of the capital) and operational partnership in order to take over the asset from Hammerson and the Korean fund National Pension Service of Korea (NPS ). Klépierre being entrusted with the rental and property management contract for the shopping center, and Sofidy with the management of the companies involved. Closing of the transaction is envisaged in early 2024, subject to the usual conditions. Announcement • Nov 15
Hammerson Reportedly Is in Detailed Talks to Sell Its 40% Stake in Value Retail Hammerson Plc (LSE:HMSO) is in detailed talks to sell its stake in Value Retail PLC, owner of the Bicester Village retail complex, for about £1 billion. Sky News has learnt that Hammerson, the FTSE-250 owner of London's Brent Cross and Birmingham's Bullring malls, is talking to a number of investors about buying its interest in Value Retail. Rival property industry executives said on 13 November 2023 that they understood that Hammerson could strike a deal to offload its roughly 40% stake in Value Retail before the end of the year. In a statement issued to Sky News, Hammerson said: "Value Retail is an attractive portfolio but, as we've previously stated, it's not part of our core proposition to have an investment in a platform. "We are not forced sellers and will look to maximise our options at the right time." A sale of its stake in Value Retail has been on the cards for some time, but news that it may be announced within weeks is likely to please shareholders. Upcoming Dividend • Aug 16
Upcoming dividend of R0.17 per share at 5.5% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 02 October 2023. Trailing yield: 5.5%. Lower than top quartile of South African dividend payers (9.5%). Lower than average of industry peers (8.4%). New Risk • Jul 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 5.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (7.9% increase in shares outstanding). Reported Earnings • Jul 30
First half 2023 earnings released: EPS: UK£0 (vs UK£0.01 in 1H 2022) First half 2023 results: EPS: UK£0 (down from UK£0.01 in 1H 2022). Revenue: UK£117.5m (down 15% from 1H 2022). Net loss: UK£1.20m (down 102% from profit in 1H 2022). Revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Retail REITs industry in South Africa. Over the last 3 years on average, earnings per share has increased by 157% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Hammerson Plc to Report First Half, 2023 Results on Jul 27, 2023 Hammerson Plc announced that they will report first half, 2023 results on Jul 27, 2023 Announcement • May 06
Hammerson Plc Elects Nick Hughes and Craig Tate as Director Hammerson Plc elected Nick Hughes and Craig Tate as Director of the Company, at the 2023 AGM held on 4 May 2023. Recent Insider Transactions • May 02
Independent Non-Executive Director recently bought R203k worth of stock On the 25th of April, Mahkameh Brunel bought around 34k shares on-market at roughly R6.02 per share. This transaction increased Mahkameh's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R214k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 10
Full year 2022 earnings released: UK£0.033 loss per share (vs UK£0.093 loss in FY 2021) Full year 2022 results: UK£0.033 loss per share (improved from UK£0.093 loss in FY 2021). Revenue: UK£288.0m (up 4.8% from FY 2021). Net loss: UK£164.2m (loss narrowed 60% from FY 2021). Revenue is forecast to decline by 16% p.a. on average during the next 3 years, while revenues in the REITs industry in South Africa are expected to remain flat. Announcement • Jan 17
Hammerson plc to Report Fiscal Year 2022 Results on Mar 09, 2023 Hammerson plc announced that they will report fiscal year 2022 results on Mar 09, 2023 Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Habib Annous was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 30
Upcoming dividend of R0.039 per share Eligible shareholders must have bought the stock before 05 October 2022. Payment date: 03 November 2022. Trailing yield: 2.3%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (10%). Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up UK£354.8m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is expected to shrink by 23% compared to a 7.5% decline forecast for the industry in South Africa. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 2 experienced directors. 1 highly experienced director. Senior Independent Director Gwyn Burr is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Mar 24
Upcoming dividend of R0.39 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 10 May 2022. Trailing yield: 1.3%. Lower than top quartile of South African dividend payers (7.3%). Lower than average of industry peers (19%). Buying Opportunity • Mar 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be UK£7.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% per annum over the last 3 years. Earnings per share has grown by 46% per annum over the last 3 years. Recent Insider Transactions • Mar 24
Independent Non-Executive Director recently bought R1.5m worth of stock On the 21st of March, Habib Annous bought around 250k shares on-market at roughly R6.01 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R8.1m more in shares than they have sold in the last 12 months. Breakeven Date Change • Mar 17
Forecast breakeven date moved forward to 2022 The 9 analysts covering Hammerson previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of UK£65.6m in 2022. Earnings growth of 98% is required to achieve expected profit on schedule. Recent Insider Transactions • Mar 11
Independent Non-Executive Director recently bought R592k worth of stock On the 9th of March, Michael Butterworth bought around 96k shares on-market at roughly R6.15 per share. In the last 3 months, there was an even bigger purchase from another insider worth R1.4m. Insiders have collectively bought R6.1m more in shares than they have sold in the last 12 months. Buying Opportunity • Mar 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be UK£7.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% per annum over the last 3 years. Earnings per share has grown by 46% per annum over the last 3 years. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: UK£134.8m (down 47% from FY 2020). Net loss: UK£409.3m (loss narrowed 76% from FY 2020). Revenue missed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 82%, compared to a 21% growth forecast for the reits industry in South Africa. Recent Insider Transactions • Dec 22
Independent Non-Executive Director recently bought R1.1m worth of stock On the 17th of December, Habib Annous bought around 165k shares on-market at roughly R6.73 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R4.1m more in shares than they have sold in the last 12 months. Upcoming Dividend • Oct 20
Upcoming dividend of R0.04 per share Eligible shareholders must have bought the stock before 27 October 2021. Payment date: 07 December 2021. Trailing yield: 1.2%. Lower than top quartile of South African dividend payers (8.1%). Lower than average of industry peers (9.5%). Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 10 analysts covering Hammerson expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of UK£20.6m in 2022. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Recent Insider Transactions • Aug 12
Independent Non-Executive Director recently bought R1.5m worth of stock On the 9th of August, Adam Metz bought around 200k shares on-market at roughly R7.30 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R77m more in shares than they have sold in the last 12 months. Executive Departure • May 07
Non-Executive Independent Director has left the company On the 4th of May, Pierre Bruno Bouchut's tenure as Non-Executive Independent Director ended after 6.2 years in the role. As of December 2020, Pierre Bruno personally held only 27.35k shares (R142k worth at the time). A total of 4 executives have left over the last 12 months. Executive Departure • Apr 28
CFO & Director has left the company On the 26th of April, James Lenton's tenure as CFO & Director ended after 1.6 years in the role. We don't have any record of a personal shareholding under James' name. A total of 3 executives have left over the last 12 months. Reported Earnings • Mar 31
Full year 2020 earnings released: UK£0.77 loss per share (vs UK£3.76 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: UK£254.5m (down 31% from FY 2019). Net loss: UK£1.73b (loss widened 201% from FY 2019). Net asset value (NAV) per share: R16.07 (down 86% from FY 2019). The current share price is 57% lower than NAV per share. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 14 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 25
Upcoming dividend of R0.041 per share Eligible shareholders must have bought the stock before 31 March 2021. Payment date: 13 May 2021. Trailing yield: 1.2%. Lower than top quartile of South African dividend payers (8.2%). Lower than average of industry peers (12%). Reported Earnings • Mar 13
Full year 2020 earnings released: UK£0.77 loss per share (vs UK£3.76 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: UK£182.9m (down 51% from FY 2019). Net loss: UK£1.73b (loss widened 201% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 89% per year but the company’s share price has only fallen by 73% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 26
New 90-day high: R5.50 The company is up 20% from its price of R4.58 on 27 November 2020. The South African market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R45.30 per share. Is New 90 Day High Low • Oct 31
New 90-day low: R3.45 The company is down 95% from its price of R70.65 on 31 July 2020. The South African market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R44.28 per share. Is New 90 Day High Low • Sep 27
New 90-day low: R3.90 The company is down 96% from its price of R92.50 on 29 June 2020. The South African market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R16.05 per share. 
