Segmental analysis

for the year ended 30 June

	Property portfolio			Statement of profit or loss and other comprehensive income			Statement of financial position
	Rentable area m2	Total value R000	Value attributable to Hyprop R000	Revenue(5) R000	Distributable earnings R000		Receivables R000	Payables R000	Loans(1) R000
2018
Shopping centres	653 258	30 027 300	27 351 847	2 684 578	1 792 727		80 322	314 660
Value centres	48 848	1 303 000	1 303 000	151 214	106 796		6 450	11 818
Total retail	702 106	31 330 300	28 654 847	2 835 792	1 899 523		86 772	326 478
Standalone offices	4 468	125 000	125 000	11 222	6 055		265	2 094
Held-for-sale(2)	15 886	198 000	198 000	35 944	23 477		1 101	8 157
Sold during 2018				10 797	8 606
Investment property	722 460	31 653 300	28 977 847	2 893 755	1 937 661		88 138	336 729
Investments in sub-Saharan Africa (excluding South Africa)			2 069 354	223 730	78 368		54 039	44 689	4 935 716
Investments in South-Eastern Europe			30 979		187 802
Other South African subsidiaries			2 918 721				16 544	6 275
Other income					46 671
Fund management				75	(65 142)		100 451	106 554	2 949 278
Net interest					(280 846)
Straight-line rental income accrual				(3 847)
Investment property – group	722 460	31 653 300	33 996 901	3 113 713	1 904 514		259 172	494 247	7 884 994
Reconciliation to statement of financial position
Centre management assets			1 741
Held-for-sale(3)			4 592				(1 101)	(8 157)
Loan receivable			18 724
Derivative instruments			7 661
Other current assets			1 135 857
			35 165 476	3 113 713	1 904 514		258 071	486 090	7 884 994
Note							11	20	17
June 2017
Shopping centres	644 196	29 105 600	26 490 589	2 580 200	1 723 648		71 132	278 609
Value centres	48 848	1 248 000	1 248 000	139 857	102 490		6 579	12 337
Total retail	693 044	30 353 600	27 738 589	2 720 057	1 826 138		77 711	290 946
Standalone offices	4 468	117 000	117 000	12 586	6 527		199	2 029
Held-for-sale(4)	33 406	418 798	418 798	68 780	47 930		6 324	13 074
Sold during 2017				74 178	36 332
Investment property	730 918	30 889 398	28 274 387	2 875 601	1 916 927		84 234	306 049
Investments in sub-Saharan Africa (excluding South Africa)			4 975 564	249 902	56 972		40 066	80 559	4 950 717
Investments in South-Eastern Europe					101 823
Other South African subsidiaries				2 559			1 140	3 169
Other income					36 533
Fund management					(67 347)		111 625	112 978	4 113 776
Net interest					(321 336)
Straight-line rental income accrual				39 587
Investment property - group	730 918	30 889 398	33 249 951	3 167 649	1 723 572		237 065	502 755	9 064 493
Reconciliation to statement of financial position
Centre management assets			4 794
Held-for-sale(3)			7 883				(6 324)	(13 074)
Loan receivable			17 434
Derivative instruments			10 315
Other current assets			1 356 491
			34 646 868	3 167 649	1 723 572		230 741	489 681	9 064 493
Note							11	20	17

(1)	Includes financial guarantee
(2)	Includes Lakefield Office Park
(3)	Working capital held-for-sale
(4)	Willowbridge North and Lakefield Office Park
(5)	Note – no single tenant or tenant group represents more than 10% of the group’s revenue

Reconciliation to statement of profit or loss and other comprehensive income

A reconciliation of distributable earnings to total profit for the year attributable to shareholders of the company is as follows:

	2018  R000		2017  R000
Distributable earnings(1)	1 904 514		1 723 572
Adjusted for:
Change in fair value of investment property	646 359		1 181 786
Change in fair value of derivatives	29 085		(5 074)
Profit on disposal of investment property	2 697		2 031
Loss on disposal of investments			(2 557)
(Impairment)/reversal of impairment of joint venture	(10 102)		10 103
Impairment of goodwill			(18 134)
Investments in sub-Saharan Africa (excluding SA)			32 642
Derecognition of financial guarantee	11 984
Investments in South African subsidiaries			(1 212)
Investments in South-Eastern Europe			44 221
Impairment of loan	(166 441)		(25 377)
Recognition of financial guarantee	87 761		(163 855)
Loss on vesting of shares			(5 048)
Capital items not included for distribution purposes	54 552		(1 106)
Non-controlling interest in investments in sub-Saharan Africa (excluding SA)	8 543
Taxation	(39 486)		(4 340)
Total profit for the year attributable to shareholders of the company	2 529 466		2 767 652
Shares in issue for distribution per share (excludes treasury shares)	255 448 256		247 899 032
Refer to note 14 –Stated capital
Distribution per share (based on distributable earnings)	756,5		695,1

⁽¹⁾ This amount differs to the actual dividend due to rounding of the dividend per share. Refer to note 27 – Dividends and distributions