Brief: Eurocommercial Properties 2023 Direct Investment Result Up At Eur 2.32 Per Share

Eurocommercial Properties NV

22/03/2024 07:05

March 22 (Reuters) - Eurocommercial Properties NV
 ECMPA.AS :
    * 2023 DIRECT INVESTMENT RESULT AT EUR 2.32 PER SHARE
    * 2023 TOTAL DIVIDEND EUR 1.70 PER SHARE
    * RENT COLLECTION RATE IMPROVED FURTHER IN 2023 REACHING 99%
(98%
IN 2022)
    * EPRA VACANCY RATE AT 31 DECEMBER 2023 REMAINED AT ITS
HISTORICALLY LOW LEVEL OF 1.5%, SAME AS A YEAR AGO
    * TERMS AGREED FOR ALL LONG-TERM LOANS MATURING IN 2024 FOR
A
TOTAL AMOUNT OF EUR 171 MLN AND BEING EXTENDED FOR 3 TO 5 YEARS
    * 2023 IFRS RESULT AFTER TAXATION ATTRIBUTABLE TO OWNERS OF
COMPANY EUR 26.9 MLN NEGATIVE (EUR 0.51 PER SHARE) VS POSITIVE
RESULT OF EUR 200.7 MLN(EUR 3.80 PER SHARE) AT END-DEC 2022
    * IFRS EQUITY ATTRIBUTABLE TO OWNERS OF COMPANY AT 31
DECEMBER
2023 EUR 2,007 MLN VERSUS €2,044 MILLION AT 31 DECEMBER 2022
    * IFRS NET ASSET VALUE PER SHARE AT 31 DEC 2023 EUR 37.68
PER
SHARE VS EUR 38.53 AT 30 JUNE 2023 AND EUR 38.68 AT 31 DEC 2022
    * OCCUPANCY COST RATIO (OCR) WAS 9.5% AT 31 DECEMBER 2023
    * DIRECT INVESTMENT RESULT GUIDANCE FOR 2024 RANGING BETWEEN
EUR
2.30 AND EUR 2.40 PER SHARE
    * WE EXPECT LEASING ACTIVITIES TO ACCELERATE, SUPPORTED BY
DYNAMISM OF NATIONAL AND INTERNATIONAL BRANDS SEARCHING GOOD
QUALITY SPACES AND LOOKING TO INCREASE MARKET SHARE IN FRANCE
    * SHARP SLOWDOWN IN INFLATION DURING 2024 EXPECTED TO LEAD
TO
INCREASE IN PURCHASING POWER AND TO INCREASE IN CONSUMPTION
WHICH SHOULD SUPPORT PERFORMANCE OF OUR CENTRES BOTH IN TERM OF
FOOTFALL AND TURNOVER

Source text for Eikon:  ID:nGNE72B1xJ 
Further company coverage:  ECMPA.AS 

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