SCHIPHOL, the Netherlands, Oct. 23, 2015 (GLOBE NEWSWIRE) --
Compared to the previous year, gross rental income for the first nine months of 2015 rose 54.6%, due to the acquisitions of shopping centres in the Netherlands, Belgium and France and development projects that came into operation. EPRA Occupancy of the shopping centre portfolio dropped slightly to 93.3%, mainly due to the acquisition of nine shopping centres in The Netherlands.
Like-for-like rental growth was positive in all countries and is on track to be at least 100 bps above indexation.
The disposal of the French offices portfolio is well underway. The sale of the Carré Vert office building was completed on September 29, 2015. On October 15, 2015, the sale of Noda was completed. The disposal of Le Cap in Saint Denis is anticipated to be completed before the end of the year 2015, above book value.
Works on the Dutch redevelopment and refurbishment program are progressing according to plan. In Belgium, Tournai, the completion of the retail park is planned for February 19, 2016. Pre-leasing improved from 43% to 68% in Q3 2015. The extension of the Tournai shopping centre itself will start early in 2016.
Compared to the previous quarter, the debt portfolio increased by € 463m in connection with the acquisition of nine shopping centres in The Netherlands. As at September 30, 2015, the LTV stood at 40.0% and EPRA NAV amounted to € 53.39.
For the year 2015, a direct result is anticipated between € 3.20 and € 3.25 per share. A dividend will be proposed to shareholders of € 3.01 per share in respect of the year 2015. Of this amount, an interim dividend of € 1.50 per share will be paid on November 6, 2015, with the share price ex-dividend as from November 2, 2015. This represents an 8-9% increase of EPS and a 5% increase of dividend compared to 2014.
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