Segro Increases Adjusted Profit to £509 Million

The Tip Desk · March 13, 2026 · 1 min read

The company raised its total dividend for the year by 6.1% to 31.1 pence.

Segro, a real estate company focused on warehouse and industrial space, reported an adjusted profit before tax of £509 million for the year ended 31 December 2025, an 8.3% increase from £470 million in 2024. Adjusted earnings per share rose 6.1% to 36.6 pence.

The company attributed the earnings growth to active asset management initiatives that captured reversion and retained customers during a period of lower demand for new space. Segro said that momentum in occupier markets returned toward the end of the year as structural trends drove increased enquiries and lease and pre-let signings.

Portfolio value rose 1.0% to £19.0 billion from £17.8 billion in the prior year. Adjusted net asset value per share increased to 925 pence.

Segro increased its total dividend for the year to 31.1 pence, up 6.1% from 29.3 pence in 2024. The company stated this distribution represents 85% of adjusted profit after tax, consistent with a payout policy targeting between 85% and 95%. The board decided not to offer a scrip dividend option for the 2025 final dividend.

The company reported a loan to value ratio of 31% compared to 28% in 2024. Net borrowings stood at £4.84 billion. Available cash and undrawn committed facilities were £1.9 billion, down from £2.1 billion in the previous year.

Segro said it remains optimistic about long-term prospects based on high occupancy levels and a diverse customer base. The company identifies long-term trends supporting its business as increasing urbanisation across Europe, supply chain reconfiguration, and greater e-commerce penetration of retail sales.