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EPRA Annual Report Survey 2013/14

Published on: 24 Sep 2014

This survey comprises a review of 84 annual reports from leading listed real estate companies across Europe to assess compliance with the Best Practices Recommendations (BPR) of the European Public Real Estate Association (EPRA). This year, for the first time, the results take into account the new EPRA Cost Ratios as well as the established EPRA Performance Measures.

EPRA Performance Measures have now been generally endorsed by the market, with 81% of companies surveyed, representing 91% by market capitalisation of the FTSE EPRA/NAREIT Developed Europe indices disclosing at least one EPRA Performance Measure. Following the release of the EPRA Cost Ratios in July 2013, 36% of the companies surveyed have also adopted these ratios.

Companies which demonstrate a high level of compliance with the BPR are given an award by the judging panel. This year, 50% of the companies surveyed gained an award, with 25 'gold', 9 'silver' and 8 'bronze' awards made.

This year, when giving awards, EPRA have put more emphasis on companies which significantly improved their reporting rather than those that show a consistently good standard. As a result five companies have been awarded “Most Improved Annual Report” - Aedifica, Icade, Intervest Offices & Warehouses, Nieuwe Steen Inv (NSI) and Wereldhave.

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