Executing the right strategy for Sanctuary
Sanctuary is an organisation with social purpose at its heart. We pride ourselves on being resilient, financially-strong and well-managed - because those qualities enable us to deliver our mission and serve our customers.
Our corporate strategy
Our corporate strategy focuses on:
- Engaging residents and stakeholders
- Investing in homes and communities
- Advancing decarbonisation and technology
- Growing our development programme, care and supported housing
2021/22 Annual Report and Financial Statements
Sanctuary is pleased to report a strong financial performance for the financial year 2021/22. The last 12 months have seen a period of growth and recovery as Covid restrictions eased. Performance metrics are on an improving trend, with many back to pre-pandemic high levels.
- Homes in management 105,509 (2021: 105,219)
- Revenue £812.5m (2021: £765.4m)
- Operating surplus £178.6m (2021: £170.1m)
- Surplus before tax £58.6m (2021: £46.9m)
- Underlying surplus £47.2m (2021: £39.0m)
- Operating margin, excluding development and asset surpluses 22.2% (2021: 22.1%)
- EBITDA £256.7m (2021: £248.7m)
- EBITDA MRI interest cover 128.4% (2021: 134.2%)
Group revenue has grown significantly to £812.5m, an increase of £47.1m (6.2%) from the previous year, reflecting revenue growth across all business areas. Sanctuary’s social housing business has also remained strong in the face of the pandemic and has benefited from rental inflation, the development of new rental units, as well as a recent acquisition.
The results show a growth in overall Group operating surplus of £8.5m (5.0%) to £178.6m (2021: £170.1m). The growth in surplus will allow for a further increase of investment in homes to £100m this year.
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