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Social Housing Reit (SOHO) investor relations material
Social Housing Reit H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Focused on UK specialist supported housing, providing essential social infrastructure for vulnerable adults through a diversified portfolio of 492 properties and 3,412 lettable homes, with 86% occupancy.
Key initiatives included driving EPS growth, resolving tenant and portfolio challenges, and addressing approved provider credit risk.
Interim results for H1 2025 show improved operational discipline, transparency, and financial performance under new management.
Portfolio repositioning and proactive tenant management have driven higher rent collection and cost reductions.
The company remains focused on delivering socially impactful housing and sustainable returns.
Financial highlights
Adjusted EPRA earnings per share rose 22% year-on-year to 3.3p; dividend cover improved to 1.21x.
Net rental income increased by 4% year-over-year and 19% sequentially to £19.8m.
EPRA cost ratio reduced to 16.5% from 18.7% year-over-year.
EPRA NTA per share at 30 June 2025 was 95.6p, down from 99.0p at year-end 2024, mainly due to a property value reduction.
Rent collection at 91.4% for the period ending 30 June 2025.
Outlook and guidance
Dividend target increased by 3% to 5.622p per share, with a return to a progressive dividend policy.
Portfolio expected to benefit from uncapped, inflation-linked income, with 86% of rental income linked to inflation.
Ongoing portfolio optimization and sector turnaround efforts may lead to public or private market opportunities.
Entering H2 2025 with improved earnings, enhanced tenant oversight, and a resilient platform.
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