In November 2016, the EPRA Reporting & Accounting Committee (European Public Real Estate Association) published the updated version of its Best Practices Recommendations “Best Practices and Recommendations 2”, relating to the presentation, analysis and calculation of the main business performance indicators for real estate firms.
Lar España fully supports and endorses the principle of standardising the reporting of performance indicators from the perspective of comparability and improving the quality of information provided to investors and other users of the financial reports.
For this reason, key performance indicators are reported in a separate chapter at the end of our financial reporting as per EPRA guidelines.
In September 2015, Lar España received the ‘GOLD AWARD’ from EPRA in recognition of the quality of the information provided, becoming the first Spanish SOCIMI to receive this award.
In September 2016, Lar España was awarded the most prestigious recognition from EPRA, the GOLD AWARD. Once again, the company’s effort to provide quality information within the Index standards framework was recognised.
In September 2017, for the third year running Lar España was awarded the Gold Award from the European Public Real Estate Association (EPRA) in recognition of the quality of the financial information it provided. Lar España was also awarded the EPRA Award for Sustainability (Silver) for the first time, for the improvements it made to its information on Corporate Social Responsibility. The company was also awarded the EPRA Most Improved Award for Sustainability.
Lar España therefore became the first Spanish SOCIMI to receive the most prestigious award in the real estate sector, three years in a row.
The candidates for the award were selected from 117 real estate companies (97 of which are European listed companies on the FTSE EPRA/NAREIT index).
The following table details the criteria set out in the EPRA best practices guidelines: