Results

intu annual report 2016

Chief Executive's review

"With our focus on compelling customer experiences and family friendly fun day-out destinations, we are continuing to meet the demands of the changing retail world, with increased footfall and occupancy."

David Fischel, intu Chief Executive

Read the full review

Highlights of 2016

400m

customer visits in 2016

intu at a glance

22m sq ft

of trading space

Discover our centres

35 m

customers

Compelling experiences

28m

website visits

Our multichannel offer

2.5m

marketing database

Adapting to the digital age

47%

reduction in carbon intensity

LED-ing the way

£447m

net rental income

15.0p

underlying earnings per share

14.0p

dividend per share

£10bn

market value of properties

404p

net asset value per share

43.7%

debt to asset ratio

3.6%

like-for-like growth of net rental

214

new long-term lettings

96%

occupancy

4.6%

total property return

7.7 yrs

average lease maturity

1.3%

footfall growth

Year in review

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Business model

We have a single goal - to create popular shopping centres that customers love and where retailers flourish - and that deliver value for all our shareholders

Our purpose is to put a smile on the face of our customers. We want them to be happier after a visit to our centres than when they walked though the door.

Strategy in action

Getting the fit right

Our centres are vibrant environments where shoppers want to be and retailers need to be. With the trend towards larger stores for fashion brands and to miniaturisation for big box retailers we manage our assets to provide retailers with the right spaces in the right places to attract customers top locations around the country

The rise of the flagship store

Retailers are investing in new flagships, making them go-to destinations and giving shoppers yet another reason to visit their favourite intu centre

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Going smaller is getting bigger

In the future we will be buying our cars alongside a new pair of shoes and a trip to the cinema, as the trend for car manufacturers to take space at intu takes off

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Seven retail trends for 2017

From new international retailers to the rise of the day out experience... We've highlighted the seven key retail trends for the next year

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Have a great day

We want our centres to provide extraordinary experiences for customers that encourage them to come back more often and stay longer so the focus of our short and medium-term development pipeline is on developing leisure opportunities and tasty places to eat

At your leisure

Skiing, golf, bowling, ice skating, cinemas, curling, swimming with sharks – we have attracted a vast range of leisure experiences to our centres and as a result have a good understanding and experience of what customers want from leisure

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Best food forward

To cater for customers hungry for a mouth-watering food experience we are creating many more terrific spaces to eat and drink in our centres

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Nickelodeon move in

First we hosted Spongebob, now we are welcoming the whole family: Dora the Explorer, PAW Patrol and the Ninja Turtles will be joining Squarepants at the Nickelodeon-themed family entertainment centre that is set to open at intu Lakeside – the first ever collaboration with a UK shopping centre. The partnership with the owners and operators of the Nickelodeon brand, Viacom and Parques Reunidos, will provide a new and compelling experience that is forecast to increase dwell time, visit frequency and catchment at intu Lakeside. The Nickelodeon experience will be integrated into the existing centre and anchor the new leisure development.

It's virtually Christmas

The latest innovation from intu’s digital team is the virtual reality Christmas. In December we piloted an intu-branded virtual reality experience at intu Victoria Centre. Customers took five minutes out of their shopping trip to step into an idyllic snow-covered world to decorate their fantasy Christmas tree – and share their creation on social media with family and friends. “This kind of social and interactive experience could become as commonplace for shoppers as stopping for a coffee with friends,” says intu’s head of digital, Karen Harris.

So much more to it...

Four years since its introduction the intu brand is making a difference in every area of our business – from customer service to operations to asset management. It means we can offer customers and retailers innovative services and experiences they won’t find anywhere else and it delivers tangible benefits to our bottom line

The best of intu, online

intu is still the only UK shopping centre landlord to have a multichannel shopping platform that adds even more to the compelling shopping experience we already provide

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Putting the intu brand in customers’ wallets

In 2009 we introduced giftcards, four million of which have been sold, and the intu giftcard business now has an annual turnover of £26 million. An intu credit card was the natural next step

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More than just a shopping trip...

Our shopping centres offer huge opportunities to stage the kind of top-quality activities, events and promotions that draw in the crowds and help blue chip brands flourish

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A sunny outlook

With planning for our trailblazing retail resort at intu Costa Del Sol still underway, we are focusing on making our existing Spanish centres at intu Asturias and Puerto Venecia even better

intu Asturias: flying high

We have been realising our vision for the centre in line with our brand proposition – projects to bring vacant space into use and give the centre the wow factor, new shops and services and events with a difference

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Fun in the Sun at Puerto Venecia

Our approach of putting the customer at the centre of everything we do is already having a great effect on Puerto Venecia, even before we rebrand

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intu Costa del Sol: a resort like no other

With its lake and array of leisure attractions including open-air skiing, theme park and aquarium, along with hotel, conference centre and wildly creative retail units, intu Costa del Sol is set to redefine the model of shopping centres in Europe

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Corporate responsibility

Better together

Making a meaningful difference is important to us. We work closely with our stakeholders to keep communities thriving, to create strong community partnerships and to care for the environment. We always take a responsible approach and our success means success for local communities, tenants and shareholders alike