Morné Wilken
CEO & Director
Good morning, and welcome to Hyprop’s Financial Results Presentation for 2026. We had an excellent financial year. Thank you to the shareholders for your ongoing support, and a big thank you to all the high HYperformers for your dedication and hard work over the last few years. Hyprop is a specialist retail fund with one of the best retail portfolios in South Africa. We create spaces and connect people. And the way we do it is by owning, managing and redeveloping dominant retail centers in key economic nodes in South Africa and Eastern Europe. I will be covering the headlines, review the last year’s priorities, then I will hand over to Wayne Abegglen, who will give us an update on the operational performance in South Africa. Rabia Shihab will present the operational performance of Europe, Brett Till will present the financial results, and I will handle the outlook.
Our distributable income has increased by 13.7% to ZAR 1.7 billion. We have met the upper end of our guidance with our distributable income per share increasing by 11.7% to ZAR 4.23 per share. Given the increase in the payout ratio to 82.5% and a good financial performance, our total dividend increased by 14.4% to ZAR 3.51 per share. The total dividend would be ZAR 2.32 per share, I mean, the final dividend. We had 2 very successful capital raises, ZAR 400 million in December last year and ZAR 739 million post year-end in July. In terms of the balance sheet, the net asset value per share has increased by 6.7% to ZAR