Strong capital base

‘Strong capital base’ stands for allocating capital efficiently and maintaining a conservative gearing level in order to finance developments and maximise returns.

What does this mean in practise?

  • Securing sufficient and attractively priced financing to provide flexibility for strategic decisions
  • Investment grade credit ratings

What did we do in 2018?

  • Successfully refinanced maturing bonds resulting in increased average maturity and lower cost of debt
  • Maintained investment grade credit ratings