Preliminary Results Statement for Year Ended 31 March 2015

A transformational year

21 May 2015

Assura plc (“Assura”), the leading primary care property investor and developer, announces its preliminary results for the year ended 31 March 2015.

Strong financial performance driven by acquisitions

• 27.5% increase in net rental income to £48.2 million (2014: £37.8 million)
• 45.9% increase in underlying profit from continuing operations to £15.9 million (2014: £10.9 million)
• 51.2% increase in profit before tax to £36.6 million (2014: £24.2 million)
• Fully covered dividend, current quarterly dividend 0.5 pence, 2.0 pence per share on an annualised basis

Significant growth in investment portfolio

• 40.9% increase in investment property to £925 million (2014: £657 million)
• 33.0% increase in total rent roll to £55.6 million (2014: £41.8 million)
• Completed acquisitions totalling £230 million
• Completed four developments at a cost of £19.6 million with a margin over the revaluation yield in excess of 100 basis points, with a lease length of 20 years

Strong balance sheet

• £175m equity raise in October 2014, net of expenses
• 97.0% increase in adjusted (EPRA) net assets and 3.4% increase in adjusted EPRA NAV per share to 44.9 pence (2014: 43.4 pence)
• £57 million borrowings redeemed and £177 million restructured with reduced interest rate, LTV now 48%
• New £60 million RCF at 170bps initial margin

Efficient, internally managed operating model

• 57 properties acquired and fully integrated
• EPRA Cost Ratio reduced to 18% (2014: 20%)
• New UK plc holding company and inclusion in the EPRA/NAREIT index

Positive sector outlook

• Ever increasing demands on health service from an ageing population, rising public expectation and medical advances
• Government has recently committed funding to back new premises development
• Low volatility of property returns with low default risk and a link with cost inflation

Assura is well positioned to continue outperforming the market

• Deep understanding of primary care real estate with proven in-house skills in medical investment and development
• Established brand with GPs
• Strong development and acquisitions pipeline
• Re-capitalised business has lower gearing, greater financial flexibility and capacity for future growth

Graham Roberts, Chief Executive, said:

“Our business is driven by the continuing and growing need for community based health and social care in the UK. We are at a point in time when this need is growing as never before. The challenge has been recognised by the NHS and Government and resources for primary care infrastructure are being prioritised. Following our substantial increase in scale and financial resources this year, we are well placed to contribute with both skills and capital to this important endeavour.”

For further information, please contact:

Presentation and webcast:

A presentation will be held for analysts and investors on 21 May 2015 at 11am London time, with a webcast available from our website or via the following link:

http://webcasting.brrmedia.co.uk/broadcast/138514/?popup=true

Alternatively to listen to the audio of the presentation live, dial:

0808 109 0700, +44 (0) 20 3003 2666

Password: Assura

For full report please go to our reports and presentations page.