Wereldhave N.V.: Results 2016: Strong leasing performance backs solid results
(Thomson Reuters ONE) -
* EPS growth of 7% to ? 3.45 (2015: ? 3.23)
* Net profit increases to ? 120.8m (2015: ? 103.8m)
* Strong leasing performance; occupancy increases in all countries
* Overall positive like-for-like rental growth of 1.0%
* Dividend proposal of ? 3.08 (final distribution of ? 0.77)
* Stable outlook 2017: EPS between ? 3.40 and ? 3.50
Summary
For the year 2016, Wereldhave posted a net profit of ? 120.8m, against ? 103.8m
for 2015. The direct result increased by 13% to ? 151.0m. The direct result per
share rose by 7% to ? 3.45 (FY 2015: ? 3.23). The full year indirect result
stood at ? 30.2m negative (2015: ? -29.9m), and improved significantly by ?
37.9m during the second half of the year. This was largely due to the use of a
lower percentage of transfer tax for the valuations in Belgium and a positive
revaluation in France.
Wereldhave delivered on the 2014 and 2015 acquisitions with a strong operational
performance in 2016. Gross rental income for 2016 amounted to ? 230.2m, an
increase of 11% compared to 2015. The increase is mainly due to the acquisition
of nine shopping centres in the Netherlands in 2015, partly offset by the
disposals of the French offices portfolio.
Overall occupancy of the shopping centres at the end of 2016 rose 170 bps to
95.5% (2015: 93.8%). Occupancy improved in all countries, with an overall
positive like-for-like rental growth of 1.0%, which is 40 bps above indexation.
Leasing activity was very high, with approximately 500 leases, rotations and
renewals signed. In France, occupancy of the portfolio improved from 91% at
acquisition to 94.4% YE 2016. In the Netherlands, occupancy of the portfolio
improved during the year from 95.3% to 95.8% and footfall in our Dutch centres
went up by 1.4%. The occupancy of the portfolio that was acquired in 2015 at
91.4% rose to 94.8% at year-end 2016, in spite of frequent bankruptcies in the
retail sector in this 15 months timeframe.
In respect of the year 2016, a final dividend will be proposed of ? 0.77 per
share. This implies a full year 2016 dividend of ? 3.08, an increase of 2%
against 2015. The ex-dividend date is April 25, 2017. The dividend will be
payable as from April 27, 2017.
The recurring direct result for the year 2017 is on a positive track,
anticipated to grow slightly further. It will however be impacted by a one-off
reorganisation costs in 2017 which will amount to approximately ? 1.5m. The
2017 outlook also takes into account intended disposals of at least ? 50m in H1
2017. Combining these two factors and development projects that will become
yielding in the second half of the year will bring the direct result per share
to between ? 3.40 and ? 3.50 per share. The impact from the cost efficiencies
resulting from the reorganisation is expected to contribute to the direct result
in 2018 and onwards. Dividend is to remain stable in 2017 at the current level
of ? 3.08, payable in four interim dividends of ? 0.77 per quarter.
The AGM will be held on April 21, 2017 in the Hilton Hotel, Amsterdam. The
nomination will be proposed of Mr A. Nühn and Mr H. Brand as members of the
Supervisory Board.
READ MORE: www.wereldhave.com
Information for the press:
Richard W. Beentjes
E richard.beentjes(at)wereldhave.com
T + 31 20 702 78 37
Information for analysts:
Jaap-Jan Fit
E jaapjan.fit(at)wereldhave.com
T + 31 20 702 78 43
2017-2-3_Press Release_Results 2016:
http://hugin.info/134202/R/2075615/780503.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wereldhave N.V. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2017 - 07:45 Uhr
Sprache: Deutsch
News-ID 521774
Anzahl Zeichen: 4312
contact information:
Town:
Schiphol
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 301 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Wereldhave N.V.: Results 2016: Strong leasing performance backs solid results"
steht unter der journalistisch-redaktionellen Verantwortung von
Wereldhave N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
