SEGRO Reports Growth in 2024 with Focus on Data Centre Expansion

SEGRO plc announced a successful financial year ended December 31, 2024, showcasing growth in rents, earnings, and dividends. The company's proactive asset management contributed to a 5.5% growth in earnings per share and a 5.4% increase in full-year dividends. SEGRO generated £91 million in new headline rent, marking its third-best performance year, fueled by a 43% uplift from UK rent reviews and renewals.

SEGRO emphasized its development in the data centre sector, establishing the largest hub in Europe with 2.3GW potential across key zones. The company remains confident in the demand driven by urbanisation and digital trends, projecting further growth through pre-letting activities and data centre pipeline opportunities.

Supporting its growth trajectory, SEGRO completed developments adding £37 million in potential rent and achieved an occupancy rate of 94%. Financial flexibility has improved with lower debt costs and increased financing. The company's strategic asset acquisitions and disposals further align with its goal for attractive, risk-adjusted returns.