Brief: Eurocommercial Properties Q1 Operating Income Falls To EUR 42.2 Mln

Eurocommercial Properties NV

05/05/2023 06:40

May 5 (Reuters) - Eurocommercial Properties NV
 ECMPA.AS :
    * OCCUPANCY COST RATIO (OCR) WAS 9.5% AT 31 MARCH 2023.
    * RENT COLLECTION RATE FOR Q1 2023 CURRENTLY STANDS AT 97%
    * GROSS RENTAL INCOME FOR THE QUARTER ENDING 31 MARCH 2023
(ON THE
BASIS OF PROPORTIONAL  CONSOLIDATION) WAS €56.2 MILLION COMPARED
WITH €51.7 MILLION IN THE SAME PERIOD LAST YEAR.
    * NET EARNINGS €0.61 (DIRECT INVESTMENT RESULT) PER SHARE
FOR THE
QUARTER ENDING 31 MARCH 2023 COMPARED TO €0.55 PER SHARE FOR THE
SAME PERIOD LAST YEAR.
    * LOAN TO VALUE RATIO (ON THE BASIS OF PROPORTIONAL
CONSOLIDATION)
STABLE AT 40.4% AT 31 MARCH 2023. NET DEBT TO EBITDA AT 8.7X,
AND ICR AT 4.2X
    * SEK 1.2 BILLION (CIRCA €110 MILLION) GREEN LOAN WITH
NORDEA,
SECURED IN Q1 2023 ON THREE PROPERTIES  IN SWEDEN, EXTENDED BY
THREE YEARS.
    * AN INTERIM CASH DIVIDEND OF €0.60 PER SHARE WAS PAID ON 27
JANUARY 2023
    * THE IFRS PROFIT AFTER TAXATION, ATTRIBUTABLE TO THE OWNERS
OF
THE COMPANY, FOR THE THREE MONTH REPORTING  PERIOD TO 31 MARCH
2023 WAS €15.1 MILLION (€0.28 PER SHARE) COMPARED TO €66.6
MILLION (€1.26 PER SHARE) FOR  THE THREE MONTH REPORTING PERIOD
TO 31 MARCH 2022
    * Q1 OPERATING INCOME EUR 42.2 MILLION VERSUS EUR 42.4
MILLION
YEAR AGO

Source text for Eikon:  ID:nGNE6qhDDx 
Further company coverage:  ECMPA.AS 

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