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Interim statement by the Board of Directors as at 30 September for the third quarter of financial year 2017

25 October 2017
  • Strategic focus on core city assets continues to be primary theme in activities.
  • Acquisition of 3 adjoining core city assets in the centre of Antwerp, located at Steenhouwersvest 44 - 46 - 48 for an investment value of about € 6 million.
  • As at 30 September 2017, 59% of the real estate portfolio consisted of core city assets and 41% of mixed retail locations (inner-city shops outside of the premium cities, high-end retail parks and retail warehouses).
  • Occupancy rate as at 30 September 2017: 99% (98% as at 31 December 2016).
  • Increase in the fair value of the existing real estate portfolio by € 18 million in the first nine months of 2017, mainly as a result of the stronger yields of the core city assets.
  • Decrease of the EPRA result in the first nine months of 2017 to € 1,78 per share (€ 1,85 for the first nine months of 2016), mainly attributable to one-off finance expenses as part of the refinancing.
  • Extension of the average term of the credit lines and a drop in average interest rate as a result of the refinancing of the entire loan portfolio.
  • Limited debt ratio of 28% as at 30 September 2017.
  • Expected gross dividend for 2017 between € 2,42 and € 2,47 per share.

Full press release:



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