Helical plc (HLCL) Earnings Call Transcripts

Helical plc's Latest Earnings Call - May 22, 2026

For the fiscal year ending March 31, 2026, Helical plc reported strong operational progress, highlighted by the completion of the forward sale of 100 New Bridge Street for GBP 333 million. Revenue from development profits increased to GBP 4.9 million, while net rental income fell to GBP 15.4 million, reflecting strategic shifts in their portfolio. Management proposed a total return of 16.4p per share, including a capital return of 13.9p, marking a significant increase from the previous year, signaling confidence in future profitability and capital allocation strategies.

Reported metrics

Guidance from management

Management indicated a focus on maintaining a low leverage ratio, targeting an LTV of around 30% in the next year. They expressed confidence in the development pipeline, expecting significant financial returns as projects are completed and let.

What management said

Yes. So I think that's absolutely right. There's -- the war has, I think, rightly made us consider where we should put the money and paying down the RCF is, we believe, is the right choice now. In terms of kind of ultimate guidance for LTV, we want to contain it. We still want to contain it with 35%. We're keen to -- we're willing to have debt in the joint ventures on the asset level, but we want to keep the debt at ...

In terms of the procurement risk on Southwark, predominantly, there we will be obtaining a fixed price contract. We're in advanced discussions with the contractor there, and we'll look to sort of formalize that position over the summer months. We'll have standard delay penalties placed in that contract. And we've also backed out in the forward funding agreement quite a favorable regime for us with the forward funding...

What analysts pressed on

Analysts raised questions about the allocation of proceeds from the sale of 100 New Bridge Street, particularly regarding the emphasis on deleveraging in a higher interest rate environment. There were also inquiries about the visibility of future opportunities within the Places for London joint venture and the potential for capital returns from upcoming projects.

Main topics on the call

• Completion of 100 New Bridge Street Sale — Helical completed the sale of 100 New Bridge Street for GBP 333 million, achieving a price of GBP 2,000 per square foot. This transaction is noted as one of the largest in recent years, enhancing the company's liquidity ...
• Increased Development Profits — The company reported a significant increase in development profits to GBP 4.9 million, driven by strategic asset management and successful project completions. Management stated, 'We are very well placed to achieve signi...
• Shift in Rental Income — Net rental income decreased to GBP 15.4 million, a reflection of the company's pivot towards development projects and away from traditional rental income streams. This shift is part of a broader strategy to maximize retu...
• Proposed Capital Return — Helical proposed a total return of 16.4p per share, which includes a capital return of 13.9p and a dividend of 2.5p. This is the largest return since 2004, indicating strong confidence in future cash flows and shareholde...

Read the full Helical plc transcript (May 22, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 11 Helical plc earnings call transcripts on record, spanning June 4, 2020 to May 22, 2026. Based on this history, Helical plc reports semi-annually. The most recent call on file is dated May 22, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HLCL

Exchange

LSE

Country

GB

Sector

Real Estate

Industry

Office REITs

Calls on record

11

First call

June 4, 2020

Most recent

May 22, 2026

Reporting cadence

semi-annually