Corio's 2010 direct result increased 15%, valuation up by ? 180 m
(Thomson Reuters ONE) -
FINANCIAL HIGHLIGHTS 2010
(Comparative figures for 2009 results in brackets; unless stated otherwise)
· Net rental income up 14.8% at ? 386.8 m (? 337.0 m).
· Like-for-like net rental growth, retail portfolio: up 1.9% (1.7%).
· Re-letting and renewals: 9.8% of the retail contracts were re-let or renewed,
increase: 3.8%.
· The average financial occupancy rate for the retail portfolio stable at 96.2%
(96.3%).
· Net financing expense up ? 3.7 m to ? 98.6 m (? 94.9 m).
· Direct result up 15.1% at ? 251.0 m (? 218.2 m).
· Direct result per share down ? 0.14 to ? 2.88, reflecting the expanded share
capital in 2009 and 2010.
· Positive valuations of ? 180.0 m in 2010 (? 389.7 m negative).
· Value of the property portfolio (including equity accounted investees and non-
controlling interest): ? 7,234.9 m at year end 2010 vs year-end 2009: ? 5,885.5
m; Percentage invested in retail: 96% (94%).
· Leverage: 42.1% (after netting debt and cash 40.0%) at year-end 2010 (year-end
2009: 40.4%); average interest rate Q4 2010 4.2%; fixed interest debt 65% (year-
end 2009: 66%).
· Total result up ? 507.6 m at ? 375.7 m (? 131.9 m negative).
· Pipeline: up ? 773 m at ? 3,038 m, mainly the result of the recent transaction
with Multi (31 December 2009: ? 2,265 m).
· Fixed committed part of pipeline (including already paid): up ? 479 m at ?
1,182 m.
· Net Asset Value (NAV) per share was ? 46.10 (year-end 2009 ? 44.32), Triple
NAV (NNNAV) per share was ? 46.79 (year-end 2009: ? 46.34).
· Corio obtained a BBB+ rating from S&P's and a Baa1 rating from Moody's, both
with a stable outlook. Subsequently Corio issued ? 750 m of Eurobonds in 2010.
Conference call 2010 result
On Friday 18 February 2011, Gerard Groener (CEO), Ben van der Klift (CFO),
Francine Zijlstra (COO) and Frederic Fontaine (CFO) will present the 2010 result
to the media at 9.30 and to analysts at 11.30 CET at Corio's offices in Utrecht.
The meeting with analysts will be webcasted and can be followed online. The
presentation can be downloaded from Corio's website (www.corio-eu.com =>
Investor Relations => Presentations). The direct link to the webcast is:
http://corio.dutchview.nl/corio20110218pe-utr/video.php and you listen to the
analysts' meeting and ask questions by dialling +31 (0)20 7965 012 for NL, +44
(0)207 1620 177 for UK and +33 (0)1 7099 3212 for France, the code for entering
the call is: 887776/ chairman Groener. More details about the webcast and call
can be found on Corio's website (homepage => other news).
Press release:
http://hugin.info/134201/R/1490284/425853.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Corio NV via Thomson Reuters ONE
[HUG#1490284]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2011 - 17:40 Uhr
Sprache: Deutsch
News-ID 51653
Anzahl Zeichen: 3541
contact information:
Town:
Utrecht
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 145 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Corio's 2010 direct result increased 15%, valuation up by ? 180 m"
steht unter der journalistisch-redaktionellen Verantwortung von
Corio NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
