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Operational trading update – six months ended 31 December 2024
HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000190724
JSE bond issuer code: HYPI
(Approved as a REIT by the JSE)
("Hyprop" or "the Company" or "the Group")
OPERATIONAL TRADING UPDATE – SIX MONTHS ENDED 31 DECEMBER 2024
INTRODUCTION
Hyprop is a specialist retail property fund with a high-quality portfolio. Our strategy focuses on owning and
managing dominant retail centres located in vibrant mixed-use precincts in key economic nodes in South Africa
and Eastern Europe. This approach is not only a differentiator but enables us to create spaces that connect people.
We are committed to delivering long-term sustainable growth for all our stakeholders, measured on a total returns
basis. To achieve this, we allocate our resources to investments that enhance yield with potential for long-term
capital growth, ultimately driving overall returns.
TRADING FOR THE SIX MONTHS ENDED 31 DECEMBER 2024
Hyprop's portfolios in South Africa and Eastern Europe continued their growth trajectory during the six months
ended 31 December 2024, with sturdy trading performances during the period.
South Africa (SA) portfolio
Key trading metrics for the SA portfolio, including tenants' turnover, trading density and foot count showed
positive growth compared to the previous period, with a circa 6% increase in trading density for November and
December 2024. The sustained growth is a result of our continuing efforts to enhance the relevance and
competitiveness of our nine centres.
SA portfolio key trading metrics for the period:
Total for
6-month
Trading Metric Year Jul Aug Sep Oct Nov Dec period
Tenants' 2023 2 114 184 1 971 900 2 015 574 2 004 941 2 416 939 3 542 291 14 065 830
Turnover (R'000) 2024 2 132 301 2 160 544 2 093 222 2 138 553 2 619 098 3 611 685 14 755 403
Variance % 2024 vs 2023 0.9% 9.6% 3.9% 6.7% 8.4% 2.0% 4.9%
Trading Density 2023 3 369 3 138 3 207 3 182 3 808 5 544 3 713
(R) 2024 3 342 3 384 3 289 3 384 4 149 5 713 3 875
Variance % 2024 vs 2023 -0.8% 7.9% 2.6% 6.4% 9.0% 3.1% 4.4%
Foot count 2023 7 313 6 675 6 871 7 018 7 377 9 518 44 773
('000) 2024 6 995 7 035 6 858 6 931 7 599 9 544 44 963
Variance % 2024 vs 2023 -4.4% 5.4% -0.2% -1.2% 3.0% 0.3% 0.4%
Eastern Europe (EE) portfolio
The EE portfolio tenants' turnover and trading density saw strong growth. This performance highlights the
centres' dominant market positions and relevance.
The foot count was impacted by the non-working Sundays Trade Act in Croatia, which allows retailers to operate
on only 16 Sundays per calendar year and prohibits trading on public holidays. The slight decrease in foot count
was offset by strong growth of 8.8% in tenants' turnover for the period.
EE portfolio key trading metrics for the period:
Total for
6-month
Trading Metric Year Jul Aug Sep Oct Nov Dec period
Tenants' Turnover 2023 44 065 41 361 46 834 50 455 56 359 70 494 309 567
(€'000) 2024 50 146 45 808 54 181 53 602 58 714 74 452 336 902
Variance % 2024 vs 2023 13.8% 10.8% 15.7% 6.2% 4.2% 5.6% 8.8%
Trading Density 2023 265 251 285 304 339 422 311
(€) 2024 298 272 321 318 349 443 333
Variance % 2024 vs 2023 12.3% 8.4% 12.6% 4.4% 3.0% 5.0% 7.2%
Foot count 2023 2 159 2 093 2 266 2 334 2 419 2 724 13 995
('000) 2024 2 222 2 140 2 304 2 325 2 401 2 720 14 111
Variance % 2024 vs 2023 2.9% 2.2% 1.7% -0.4% -0.8% -0.2% 0.8%
Hyprop's interim results for the six months ended 31 December 2024 are scheduled to be released on 13 March 2025.
29 January 2025
Sponsor
Java Capital
Date: 29-01-2025 07:05:00
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