Vastned Retail Belgium: Annual results 2018 Contin
Post# of 35791
Continued execution of the strategy with a clear focus on high-quality retail properties.
As at 31 December 2018, 59% of the real estate portfolio consists of core city assets and 41% of mixed retail locations (inner-city shops outside of the premium cities, retail parks and retail warehouses).
Realisation of 28 rental transactions representing approximately 12% of the total annual rental income.
Occupancy rate as at 31 December 2018: 98% (99% as at 31 December 2017).
Decrease by approximately 1.5% in the fair value of the existing real estate portfolio in financial year 2018, mainly the result of a decrease in the estimated rental values.
Gross dividend amounts to €2.85 per share for financial year 2018 (€2.62 for financial year 2017). Gross dividend yield of 7.0% based on the closing share price on 31 December 2018, i.e. €40.90.
Increase of the EPRA earnings in financial year 2018 to €2.85 per share (€2.62 for financial year 2017) mainly the result of an increase in rental income combined with a significant decrease in interest charges as a result of the refinancing of the loan portfolio in 2017.
Extension of the duration of the revolving credit facilities by 1 year to 2023 under the same conditions.
Limited debt ratio of 27.5% as at 31 December 2018.
Full press release:
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