Brief: Eurocommercial Properties End-June Loss Turns To Profit Of Eur 17.8 Mln

Eurocommercial Properties NV

27/08/2021 06:48

Aug 27 (Reuters) - Eurocommercial Properties NV  SIPFc.AS :
    * EPRA EARNINGS RESULT FOR THE SIX MONTH REPORTING PERIOD TO
30
JUNE 2021 WAS €45.5 MILLION,
    * END-JUNE LOAN TO VALUE RATIO (ON THE BASIS OF PROPORTIONAL
CONSOLIDATION) STABLE AT 43.8%
    * EPRA VACANCY RATE IMPROVED AT 30 JUNE 2021 AND WAS 1.3%,
DOWN
FROM 1.5% AT 31 MARCH 2021 AND EXTENDING OUR LONG-TERM VACANCY
RECORD
    * AT END JUNE EPRA NET TANGIBLE ASSETS OF €40.86 PER
DEPOSITARY
RECEIPT
    * IFRS PROFIT AFTER TAXATION ATTRIBUTABLE TO OWNERS OF THE
COMPANY
FOR THE SIX MONTH REPORTING PERIOD TO 30 JUNE 2021 WAS €17.8
MILLION COMPARED TO A NEGATIVE €62.9 MILLION FOR THE SIX MONTH
REPORTING PERIOD TO 30 JUNE 2020
    * GROSS RENTAL INCOME FOR THE FIRST SIX MONTHS (BASED ON
PROPORTIONAL CONSOLIDATION) WAS AT €103.2 MILLION
    * RISKS AND UNCERTAINTIES DUE TO COVID-19 PANDEMIC MAKE IT
DIFFICULT TO FORECAST IMPACT OF PANDEMIC ON PERFORMANCE OF
COMPANY FOR REMAINING PERIOD UNTIL END OF FINANCIAL YEAR
    * H1 RENT COLLECTION HAS BEEN STEADY AND TO DATE WE HAVE
COLLECTED
82% OF INVOICED RENT WHICH WILL INCREASE
    * WE WOULD EXPECT NORMAL TRADING CONDITIONS IN OUR SHOPPING
CENTRES TO BE MAINTAINED WHICH SHOULD PROVIDE A SOLID BASE FOR
STABLE INCOME GOING FORWARD
    * CASH DIVIDEND OF €0.50 AND 1 FOR 18 SCRIP DIVIDEND PER
DEPOSITARY RECEIPT PAID ON 2 JULY 2021

Source text for Eikon:  ID:nGNEb8Bk56 
Further company coverage:  SIPFc.AS 

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