Finance meets purpose
To meet the investment needed to make millions of existing homes safer, warmer, more energy efficient and cheaper to run, alongside the delivery of new social housing, we rely on funders and other stakeholders to support us.
Our long-term financial plan ensures we remain within our financial risk appetite, can sustain covenant compliance, and can deal with adverse scenarios, while continuing to invest in our homes.
Key Financial Indicators
Please see below our key financial indicators and value for money metrics:
|
|
2024/25 |
2023/24 |
2022/23 |
|
Number of homes |
80,427 |
79,820 |
78,760 |
|
Turnover |
£674m |
£609m |
£642m |
|
Turnover from Social Housing Lettings |
£586m |
£535m |
£481m |
|
Operating Surplus |
£123m |
£108m |
£136m |
|
Lender Interest Cover |
194% |
190% |
203% |
|
New Homes Spend |
£229m |
£257m |
£269m |
|
Investment in existing homes |
£286m |
£247m |
£186m |
|
Total Borrowings |
£3.4bn |
£3.2bn |
£2.9bn |
|
Committed facilities |
£4.0bn |
£4.0bn |
£4.2bn |
Regulator of Social Housing - Value for Money metrics
|
|
2024/25 |
2023/24 |
2022/23 |
|
Investment in property % |
5.3% |
5.8% |
7.3% |
|
New supply delivered % (social housing) |
1.2% |
0.7% |
1.5% |
|
Gearing % |
52.0% |
49.9% |
47.8% |
|
EBITDA-MRI interest cover % |
40.0% |
38.7% |
72.3% |
|
Social Housing cost per unit |
£7,293 |
£6,844 |
£5,544 |
|
Operating Margin % |
11.5% |
12.4% |
13.9% |
|
Return on Capital Employed % |
1.9% |
1.7% |
2.2% |
|
Ratio of responsive to planned repairs |
0.28 |
0.28 |
0.53 |
|
Rent collected % (General needs) |
98.8% |
98.9% |
98.8% |
Credit rating and regulatory rating
A3 StableMoody's Credit Rating |
A- StableFitch Credit Rating |
G1 / V2 / C2 |
