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The document summarizes cash generated from operating activities, net asset value per share, portfolio value including equity-accounted joint ventures, and funding costs, while highlighting key operating metrics such as loan-to-value, vacancies, and collections. It includes a residential portfolio overview addressing resilient demand amid tenant affordability pressures, supported by specific operational drivers and regional vacancy commentary.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/annual-results-presentation-fy2025-financial-performance-portfolio-update/180750/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/annual-results-presentation-fy2025-financial-performance-portfolio-update/180750.png","ImageObject",300,407,{"name":92,"@type":93},"Sophia Brooks","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-04","2026-09-02",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",12,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What financial and capital management metrics are highlighted in the FY2025 annual results?","Question",{"text":113,"@type":114},"The presentation highlights cash generated from operating activities (before dividend), net asset value (NAV) per share, portfolio value including equity-accounted joint ventures, and all-in weighted average cost of funding, alongside loan-to-value (LTV) within the target range.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How does the residential portfolio overview explain performance under tenant affordability pressures?",{"text":118,"@type":114},"It links improved rental growth to lower vacancies and higher market rentals, while noting vacancy impacts from unrepaired damage and forecasting improved occupancy following the reopening of Lilian Ngoyi Street, plus occupancy support from NSFAS-related pre-approval.",{"name":120,"@type":111,"acceptedAnswer":121},"What operational factors contributed to occupancy and demand during FY2025?",{"text":122,"@type":114},"Key drivers include anticipated occupancy improvement after Lilian Ngoyi Street reopened, pre-approval of NSFAS-funded students for The Fields, and completion of a solar installation in July 2025 to reduce electricity costs.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},180750,1788342012,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":130,"read_time":145,"preview_page_count":4},962084925636,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","| 1 | Overview\u003Cbr>Jeffrey Wapnick, CEO |\n| --- | --- |\n| 2 | Our portfolio performance: residential Charlene Conradie, outgoing COO |\n| 3 | Our portfolio performance: commercial Charlene Conradie, outgoing COO |\n| 4 | Our commitment to operating responsibly Jeffrey Wapnick, CEO\u003Cbr>(on behalf of Riaan Erasmus, Deputy CEO and FD) |\n| 5 | Financial results and capital management Jeffrey Wapnick, CEO\u003Cbr>(on behalf of Riaan Erasmus, Deputy CEO and FD) |\n| 6 | Outlook\u003Cbr>Jeffrey Wapnick, CEO |\n| 7 | Questions and answers\u003Cbr>Presenting team |\n| 8 | Appendices |\n\n| Cash generated from operating activities (before dividend payment) of\u003Cbr>R480.8 million\u003Cbr>(2024: R432 .6 million)\u003Cbr>Portfolio value including 100% of equity accounted joint venture\u003Cbr>R11.2 billion\u003Cbr>(2024: R11 .2 billion)\u003Cbr>Loan-to-value (LTV) maintained within target range (REIT BPR)\u003Cbr>38.2%\u003Cbr>(2024: 39.2%) |  |  |  |\n| --- | --- | --- | --- |\n| Net asset value (NAV)\u003Cbr>per share of\u003Cbr>R24.55 | All-in weighted average cost of funding of\u003Cbr>9.1% | Core vacancies at\u003Cbr>12.3% | Collections averaging\u003Cbr>99.0%\u003Cbr>of billings |\n| (2024: R23 .97) | (2024: 9.5%) | (2024: 14.9%) | (2024: 100.7%) |\n\n| RESIDENTIAL PORTFOLIO OVERVIEW\u003Cbr>RESILIENT DEMAND AMID TENANT AFFORDABILITY PRESSURES |\n| --- |\n| As at 31 August 2025 As at 31 August 2024 GLA (m2) 422 558 422 558 Number of properties 64 65 Number of tenants 9 297 8 894 Number of residential units 9 320 9 241 Johannesburg (%) 36 36 Tshwane (%) 64 64 Rental income (R’million) 558.3 529.5 Rental income growth (%) 5.4 3.8 Rental income growth (like-for-like) (%)* 5.7 3.8 Total and core vacancies (% of GLA) 8.0 9.2 Tshwane (excl. Hatfield) 8.3 9.4 Hatfield 7.0 10.6 Johannesburg 8.9 9.8 Kempton Park 2.0 3.1 Average length of stay – excl The Fields (months) 26.2 25.2 Rental reversions New deals (%) 2.8 (0.3) Renewals (%) 5.5 5.0\u003Cbr>\u003Cbr>• Improved rental growth due to a slight decrease in vacancies and an increase in market rentals\u003Cbr>• Octodec’s well-located, secure, and well-maintained properties remain attractive to our tenant base\u003Cbr>• Johannesburg vacancies impacted during the reporting period by unrepaired damage on Lilian Ngoyi Street\u003Cbr>• Improved occupancy anticipated following thereopening of Lilian Ngoyi Street on 12 September 2025\u003Cbr>• Pre-approval of NSFAS funded students improved occupancy at The Fields in Hatfield, Tshwane\u003Cbr>• The University of Pretoria administers rental paymentson behalf of NSFAS\u003Cbr>• Solar installation completed July 2025 which should result in electricity cost savings |\n| * Excludes property disposals\u003Cbr>Octodec Investments Limited 8 Annual Results Presentation 2025 |\n\n|  | 2025 |\n| --- | --- |\n| Number of units | 737 |\n| Occupancy %(in units) | 93.0 |\n| Average rental per month |  |\n| per unit (R) | 4 700 |\n\n\n|  | 2025 |\n| --- | --- |\n| Number of units | 469 |\n| Occupancy %(in units) | 98.0 |\n| Average rental per month |  |\n| per unit (R) | 5 000 |\n\n\n|  | 2025 |\n| --- | --- |\n| Number of units | 399 |\n| Occupancy %(in units) | 91.0 |\n| Average rental per month |  |\n| per unit (R) | 5 400 |","cbCaicDGPnjg5lGV","https://ap.wps.com/l/cbCaicDGPnjg5lGV","pdf",18167268,57,"English","# Overview\n## Our portfolio performance\n## Operating responsibly\n## Financial results and capital management\n# Outlook\n# Questions and answers\n# Appendices","[{\"question\":\"What financial and capital management metrics are highlighted in the FY2025 annual results?\",\"answer\":\"The presentation highlights cash generated from operating activities (before dividend), net asset value (NAV) per share, portfolio value including equity-accounted joint ventures, and all-in weighted average cost of funding, alongside loan-to-value (LTV) within the target range.\"},{\"question\":\"How does the residential portfolio overview explain performance under tenant affordability pressures?\",\"answer\":\"It links improved rental growth to lower vacancies and higher market rentals, while noting vacancy impacts from unrepaired damage and forecasting improved occupancy following the reopening of Lilian Ngoyi Street, plus occupancy support from NSFAS-related pre-approval.\"},{\"question\":\"What operational factors contributed to occupancy and demand during FY2025?\",\"answer\":\"Key drivers include anticipated occupancy improvement after Lilian Ngoyi Street reopened, pre-approval of NSFAS-funded students for The Fields, and completion of a solar installation in July 2025 to reduce electricity costs.\"}]","Annual Results Presentation - FY2025 - Financial Performance & Portfolio Update | PDF",144]