Corio's sustains net rental income growth in difficult market: up
7.4% on continuing operations
(Thomson Reuters ONE) - * Net rental income (including minority interest) from continuing operations up 7.4% at ? 164.9 m (? 153.5 m).* Like-for-like net rental growth, total portfolio: 1.2% (5.9%), like-for-like net rental growth, retail portfolio: 1.1% (5.8%).* Reletting and renewals: 3.0% of the retail contracts re-let or renewed, increase: 8.8%.* Direct result (excluding minority interest) down 2.5% at ? 101.8 m (? 104.4 m), reflecting primarily the sale of the Dutch office and industrial portfolio effected 30 September 2008; operating income from discontinued operations in H1 2008 was ? 18.9 m.* The average financial occupancy rate for the retail portfolio was 96.6% (97.8%).* Indirect result (excluding minority interest) was ? 298.2 m negative (? 34.6 m negative).* Value of the property portfolio (including share of associates and minority interest): ? 5,927 m (year-end 2008: ? 6,039 m); Percentage invested in retail: 93%.* Pipeline (excluding already paid): down ? 248 m to ? 2,091 m.* Fixed committed part of pipeline (excluding already paid): up ? 54 m to ? 558 m.* Successful capital increase of ? 258 m in June 2009 via Accelerated Book Build (ABB)* Shareholders elected to receive 63% of the total dividend in shares, due to fiscal limitations only 40% or ? 70 m has been distributed in shares and the remainder in cash.* Triple NAV (NNNAV) per share fell by 17.6% to ? 47.75 (year-end 2008: ? 57.98); Net Asset Value (NAV) per share fell 16.4% to ? 43.65 (year-end 2008 ? 52.20).* Leverage: 40.4% at 30 June 2009 (year-end 2008: 40.1%); average interest rate dropped in Q2 2009 to 4.2% (Q1 2009: 4.7%); fixed interest debt stable 64% (year-end 2008: 65%).For detailed information about Corio's H1 2009 results we refer tothe 'Half-year results 2009' report which you can download fromwww.corio-eu.com and at the bottom of this message.Webcast and Conference call H1 2009 resultsOn Thursday 27 August 2009, the Management Board of Corio willpresent the H1 2009 result to the press at 9.30 and to analysts at11.30 in the Hilton Hotel in Amsterdam. The meeting with the analystscan be followed by a webcast which is accessible via Corio's website(www.corio-eu.com), the presentation can be downloaded from that site(Investor Relations => Presentation). You can also listen to theanalyst meeting via + 31-20-7948504.Corio has recently added two new features to www.corio-eu.com: theportfolio in google earth and a weblog.For further information, please contact:Ingrid PrinsInvestor Relations Manager0031-30-2829343Investor.relations(at)nl.corio-eu.comwww.corio-eu.comhttp://hugin.info/134201/R/1337343/318633.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.08.2009 - 18:00 Uhr
Sprache: Deutsch
News-ID 5130
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