28th May 2025
Sanctuary Scotland
Sanctuary’s unaudited results for the 2024/25 financial year show a robust operational and financial performance.
The figures reveal that revenue for the year across Sanctuary was £1179.3million, an increase of £93.9million (8.7%) on 2023/24, while the underlying surplus for 2024/25 was £48.6million, 18% (£7.4million) higher than in the previous financial year.
The underlying operating margin is 19.2% compared to 19.0% in 2024 – a product of improved operational metrics, cost efficiencies and integration benefits of recent acquisitions.
Sanctuary’s EBITDA MRI interest cover was 110%, maintaining solid cash interest cover performance while delivering record levels of reinvestment.
Operationally, Sanctuary reduced losses from void properties, achieved strong compliance metrics and improved occupancy across its Care and Students businesses.
Ed Lunt - Chief Financial Officer, said:
“Despite the backdrop of challenging economic headwinds and our financial envelope being squeezed by costs rising faster than income, for a third year running we have invested a record amount of capital (£122 million) in our customers’ homes.
“This year also saw notable operating and financial benefits of integrating the recent Swan and Johnnie Johnson acquisitions, with the Johnnie Johnson Transfer of Engagements completing on the 31 January 2025.
“Both acquisitions are delivering overhead efficiencies whilst enlarging the reinvestment envelope that both organisations had on a stand-alone basis.
“Cost pressures and income restrictions will continue forward, but our strong governance and our investment grade credit ratings, coupled with our £2.5 billion Note Programme, place Sanctuary in a strong, financially sustainable position to pursue our strategic objectives, deliver to our customers and fulfil our wider social purpose.”
