Corio NV : Corio's direct result, ?229.8 m, in line with previous guidance
(Thomson Reuters ONE) -
HIGHLIGHTS 2014
Operating performance
· Direct result (EPRA earnings) is ?229.8 m or ?2.30 per share, in line with
previous guidance
· Net rental income like-for-like up 0.9% for 2014
· Retail portfolio's average vacancy rate unchanged at 5.2%
· Administrative expenses reduced by 5%, to ?37.1 m
· On a like-for-like basis, footfall increased by 1.1% and tenants sales were
unchanged
· Reversion rate of +2.3% (Re-letting and renewal of retail portfolio)
Financing
· Financing cost decreased to 3.4% in Q4 2014
· Loan-to-Value was 42.7% as of 31 December 2014
Disposals
· Corio has sold 31 assets for total proceeds of ?638 m in the past 2 years, of
which ?394 m in 2014
Valuation at year-end 2014
· Portfolio valued at ?6.9 bn, down 2.3% vs. last year
· EPRA NNNAV Net Asset Value per share of ?33.97 down 9.8%
Events subsequent to reporting date
· Corio distributed a cash dividend of ?1.03 per share on 12 January 2015
· The Management Board of Corio N.V. changed on 15 January 2015 (Settlement
date)
· On 16 January 2015, Klépierre and Corio announced that Klépierre held 93.6% of
total outstanding shares of Corio following the closing of the public exchange
offer launched in October 2014. Both companies confirmed their intention to
merge effective 31 March 2015
The figures in this press release have not been audited by the external auditor
Press release:
http://hugin.info/134201/R/1894224/671443.pdf
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Corio NV via GlobeNewswire
[HUG#1894224]
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Datum: 12.02.2015 - 17:46 Uhr
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