Interim statement of the statutory manager regarding the third
quarter of the financial year 2009 (0
(Thomson Reuters ONE) - - Strong increase of the rental income (+15%) and the net currentresult (+27%) on a quarterly basis in comparison to the same periodof last year;- Further decrease of the debt ratio to 47.37% (30/06/09:48.67%);- The occupancy rate remains stable at 98.4% despite a relativelyunfavourable market situation.Over the third quarter of 2009 Leasinvest Real Estate realised arental income of 9.88 million euro[1], compared to 8.57 millioneuro[2] over the same period last year (01/07/08 - 30/09/08), or anincrease of 15%.The 3rd quarter is in line with the first 2 quarters of the financialyear and leads to a net current result, i.e. the net result excludingthe portfolio result on the one hand, and the negative changes in thefair value of the non effective hedges on the other hand, of 5.78million euro (or 1.45 euro per share[3]) over 3 months, compared to4.54 million euro (or 1.14 euro per share) over the period 01/07/08till 30/09/08. This increase of 27% is mainly due to the contributionof the retail sites in Luxembourg, acquired end-2008, combined with alower average financing cost following the decrease of the marketinterest rates.At the end of the third quarter of the financial year 2009 theshareholders' equity, part of the group (based on the fair value ofthe investment properties) amounted to 273.23 million euro (30/06/09:269.38 million euro).Compared to the net asset value per share of 68.37 euro (30/06/09:67.41 euro) the Leasinvest Real Estate share records a discount of13% on the stock exchange (based on the closing price on 12/11/09).The fair value[4] of the real estate portfolio, including thedevelopment projects, amounted to 536.89 million euro on 30/09/09compared to 535.32 million euro on 30/06/09.This slight increase is the consequence of the investments in thecurrent development projects. Without taking into account theseinvestments, the value of the real estate portfolio has slightlydecreased since 30/06/09 (-0.2%).During the third quarter of 2009, no new acquisitions, nordivestments of buildings took place.The debt ratio has slightly decreased from 48.67% on 30/06/09 to47.37% on 30/09/09.The occupancy rate[5] on 30/09/09 reached a better level, or 98.43%compared to 97.67% on 30/06/09.The gross rental yields amounted to 7.58% (30/06/09: 7.50%) based onthe fair value, and to 7.39% (30/06/08: 7.31%) based on theinvestment value.13 November 2009,The statutory manager.Leasinvest Real Estate Comm. VAReal estate investment trust (sicafi) Leasinvest Real Estate SCAmainly invests in high quality and well-located offices, logisticsand retail buildings in Belgium and the Grand Duchy of Luxembourg.The real estate investment trust is listed on Euronext Brussels andhas a market capitalisation of 239 million euro (value on 12/11/09).For more information, contact:Leasinvest Real EstateJean-Louis AppelmansInvestor RelationsT: +32 3 238 98 77E: jeanlouis.appelmans(at)leasinvest.beW www.leasinvest.be[1] The figures mentioned in this press release are unaudited and arein accordance with IFRS.[2] As the previous financial year ran from 01/07/07 - 31/12/08 (18months) comparative pro forma result figures are presented for theperiod 01/07/08-30/09/08 (3 months) (unaudited).[3] The data per share are calculated based on the number of sharesparticipating in the result of the period (3,996,294), this is, thenumber of issued shares (4,012,832) minus the consolidated number oftreasury shares (16,538) (idem 30/09/08, 31/12/08 and 30/06/09).[4] Fair value: the investment value as defined by an independentreal estate expert and from which the transfer rights have beendeducted. The fair value is the accounting value according to IFRS.[5] The occupancy rate is calculated on the basis of the estimatedrental value. All buildings of Leasinvest Real Estate's portfolio aretaken into account excluding the development projects.http://hugin.info/134797/R/1355011/328724.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 13.11.2009 - 17:40 Uhr
Sprache: Deutsch
News-ID 8383
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