Sanctuary Group Annual Financial Report 2024/2025

Sanctuary Capital PLC

07 July 2025

 

Sanctuary Capital PLC

7 July 2025

Sanctuary Group publishes its Annual Report and Financial Statements

2024 / 2025

Sanctuary Group ("Group") is pleased to announce the publication of its audited Group Financial Statements for the year ended 31 March 2025 ("2025"). Comparatives are to the Group's audited Financial Statements for the year ended 31 March 2024 ("2024"); where 2024 figures have been restated, the restated figures have been used.

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 http://www.rns-pdf.londonstockexchange.com/rns/0006Q_1-2025-7-7.pdf

Group revenue for 2025 was £1,179.3 million (2024: £1,085.4 million) representing a £93.9 million or 8.7% increase. The rise predominantly reflects growth in the Affordable Housing business which benefitted from an increase in revenue from existing homes, additional revenue from new affordable homes, and a full year of income from Johnnie Johnson Housing.

Underlying operating surplus was higher, increasing by £19.3 million or 9.3% to £226.0 million (2024: £206.7 million), whilst underlying operating margin also improved at 19.2% (2024: 19.0%); social housing operating margin remained strong at 29.3% (2024: 31.1%).

Key Metrics[1]	2025	2024
Homes in management	125,719	125,094
Revenue	£1,179.3m	£1,085.4m
Underlying operating surplus	£226.0m	£206.7m
Operating surplus	£215.7m	£215.2m
Underlying operating surplus margin	19.2%	19.0%
Operating surplus margin	18.3%	19.8%
Social housing operating surplus margin	29.3%	31.1%
EBITDA MRI interest cover	110.2%	105.0%

A deficit of £29.7 million (2024: £196.3 million surplus) was recognised for 2025 due to revaluation movements, and other adjustments, in respect of student properties classified as held for sale, and the cessation of several defined benefit pension schemes.

Cash generated from operating activities grew to £374.8 million (2024: £286.6 million). The continued strength of the Group's liquidity is highlighted by the 2025 closing cash balance of £159.6 million (2024: £141.9 million), and undrawn facilities of £356.5 million (2024: £467.0 million), ensuring the Group has 23 months of financing versus committed expenditure.

Whilst certain Tenant Satisfaction Measures have improved, our other scores have remained broadly in line with last year; however, resident satisfaction is marginally lower at 64% (2024: 66%).

Strong operational performance continues to underpin our financial results:

Key Performance Indicators	2025	2024
Housing - resident satisfaction	64%	66%
Rent arrears	3.0%	3.2%
Vacant stock	2.5%	2.7%
CQC Sanctuary Care rating	95%	95%
CQC Sanctuary Supported Living rating	95%	98%
Care Inspectorate Scotland rating	95%	89%
Sanctuary Care occupancy	90%	88%
Student occupancy	95%	93%

Speaking about the financial results, Ed Lunt - Chief Financial Officer, said:

Our results reflect another positive year for the Group and we remain in robust financial health demonstrating the Groups financial resilience achieved through its scale, operating structures, and strong governance. For a third year running we have invested a record amount (£122 million) in our homes for the benefit of customers, despite the economic challenges, whilst staying within our golden rules and maintaining investment grade credit ratings.

For more information, please contact Sanctuary's Communications Team by emailing [e-mail]

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[1] Definitions and a reconciliation of the measures are provided in Appendix 3 of the Annual Report and Financial Statements 2024 / 2025.

 

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