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Thursday, 8 February 2018

Vastned Retail Belgium: Annual results 2017

Vastned Retail Belgium    

Published: 18:00 CET 08-02-2018 /GlobeNewswire /Source: Vastned Retail Belgium / : INTV /ISIN: BE0003754687

Vastned Retail Belgium: Annual results 2017

Continued execution of the strategy to ensure that the share of core city assets in the real estate portfolio exceeds 75% in the long term.

 

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 31 December 2017, 59% of the real estate portfolio consists of core city assets and 41% of mixed retail locations (inner-city shops outside of the premium cities, retail parks and retail warehouses).

 

Realisation of 23 rental transactions representing approximately 9% of the total annual rental income.

 

Occupancy rate as at 31 December 2017: 99% (98% as at 31 December 2016).

 

Increase by approximately 6.2% in the fair value of the existing real estate portfolio in financial year 2017, mainly as a result of the stronger yields of the core city assets and the mixed retail locations.

 

Gross dividend amounts to €2.62 per share for financial year 2017 (€2.45 for financial year 2016). Gross dividend yield of 5.8% based on the closing share price on 31 December 2017, i.e. €45.00.

 

Increase of the EPRA earnings in financial year 2017 to €2.62 per share (€2.45 for financial year 2016) partly due to the decrease in financing costs.

 

Limited debt ratio of 27% as at 31 December 2017.

Full press release:



VRB_Annual Results 2017_FINAL



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Vastned Retail Belgium, Uitbreidingstraat 66, Berchem 2600, België
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