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Unaudited consolidated interim financial results for the six months ended 31 December 2025 and updated guidance
ATTACQ LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT
A2X share code: ATTJ
JSE alpha code (Attacq Limited): ATTI
JSE alpha code (Attacq Treasury Limited): ACQI
ISIN: ZAE000177218
Approved as a REIT by the JSE
(Attacq or "the company" or "the group")
SHORT-FORM ANNOUNCEMENT:
UNAUDITED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2025 AND UPDATED GUIDANCE
HIGHLIGHTS
1. Distributable income per share increased by 9.6% to 60.3 cents (Dec 24: 55.0 cents)
2. Interim dividend per share increased by 9.1% to 48.0 cents (Dec 24: 44.0 cents)
3. Net operating income increased by 5.2% (Dec 24: 16.3% increase)
4. High occupancy and collections rates of 93.7% and 100.1% respectively (Dec 24: 91.9% and 99.6%)
5. Gearing remained low at 25.1% and the interest cover ratio improved to 3.15 times (Dec 24: 25.9% and 2.91 times)
6. Waterfall City development activity^ increased to 47 256m2 effective share of GLA (Dec 24: 16 314m2)
^ Development activity, comprising developments under construction and approved pipeline at Waterfall City, totaling 86 507m2 of gross lettable area at a total cost
of R2.1 billion.
FINANCIAL PERFORMANCE
31 December 31 December
2025 2024
% change
Distributable income per share cents 60.3 55.0 9.6
Dividend per share cents 48.0 44.0 9.1
Total assets R'000 25 150 183 23 799 618 5.7
Net asset value per share cents 1 932 1 823 6.0
Gross revenue R'000 1 579 973 1 451 035 8.9
Earnings per share cents 90.1 100.2 (10.1)
Headline earnings per share cents 54.3 53.7 1.1
DIVIDEND
The board has declared an interim gross cash dividend of 48.00000 cents per share, for the six months ended 31 December 2025, out of the company's distributable
income. This equates to a payout ratio of 79.6%. A detailed announcement, including salient dates and the tax treatment applicable to the dividend, was published
on Tuesday, 10 March 2026 via SENS.
UPDATED GUIDANCE
The group upgrades its full-year FY26 DIPS growth guidance to between 11.0% and 14.0%, while maintaining a dividend payout ratio of 80.0%.
This guidance is based on the following key assumptions:
Assumptions within Attacq's control
- No material impact on distributable income due to unplanned developments, acquisitions or disposals
Assumptions outside of Attacq's control
- Forecasted rental income being achieved based on anticipated market-related renewals
- No major changes in vacancy rates
- No significant increase in load-shedding and the resultant increase in costs
- No unforeseen circumstances such as major corporate tenant failures or change of the current macroeconomic environment.
This guidance has been prepared in terms of the International Financial Reporting Standards and in accordance with the SA REIT Association's Best Practice
Recommendations (2nd edition) for the calculation of distributable income, and is consistent with the group's accounting policies.
The guidance is the responsibility of the board and has not been reviewed or reported on by Attacq's auditors.
ABOUT THIS ANNOUNCEMENT
The contents of this announcement are the responsibility of the board of directors of Attacq and were approved on 9 March 2026. This announcement is a summary
of the full announcement released on SENS and published on 10 March 2026 and does not include full or complete details. Any investment decision by investors
and/or shareholders should be based on the full interim results announcement. The full announcement is available on the company's website at http://www.attacq.co.za
investor-hub and can be accessed using the following JSE link: https://senspdf.jse.co.za/documents/2026/jse/isse/ATT/2026HYRES.pdf. This announcement has not
been audited or reviewed by the company's external auditors.
Attacq Limited
10 March 2026
Independent non-executive directors
IN Mkhari (chairperson)
HR El Haimer (lead independent director)
FFT De Buck
K Joubert
TP Leeuw
GT Rohde
L Sebesho (appointed 1 January 2026)
AE Swiegers
JHP van der Merwe
Executive directors
JR van Niekerk (CEO)
P de Villiers (interim CFO, appointed 1 February 2026)
Company secretary
S Scheepers (appointed 1 February 2026)
Registered office
Nexus 1, Ground floor, 44 Magwa Crescent, Waterfall City, 2090
Postal address
PostNet suite 016, Private Bag X81, Halfway House, 1685
Transfer secretaries
Computershare Investor Services Proprietary Limited
Equity sponsor
Java Capital
Debt sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Independent auditors
Ernst & Young http://Inc.ca
Date: 10-03-2026 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
