Brief: Intervest Q1 Consolidated Operating Result Up At EUR 16.4 Mln

Intervest Offices & Warehouses NV

06/05/2020 17:00

May 6 (Reuters) - INTERVEST OFFICES & WAREHOUSES NV
 PRIF.BR :
    * END-MARCH CONSOLIDATED RENTAL INCOME EUR 14.7 MILLION
VERSUS EUR
15.1 MILLION YEAR AGO
    * END-MARCH EPRA EARNINGS EUR 8.9 MILLION VERSUS EUR 9.2
MILLION
YEAR AGO
    * END-MARCH CONSOLIDATED NET RESULT EUR 13.3 MILLION VERSUS
EUR
8.6 MILLION YEAR AGO
    * END-MARCH CONSOLIDATED OPERATING RESULT EUR 16.4 MILLION
VERSUS
EUR 13.0 MILLION YEAR AGO
    * AS OF MAY 6, BOARD OF DIRECTORS DECIDES TO OFFER
SHAREHOLDERS
DIVIDEND IN CASH OR SHARES
    * AS OF MARCH 31, LIMITED DEBT RATIO OF 40% AS GIVES COMPANY
SUFFICIENT ROOM TO INVEST WITH BORROWED CAPITAL BEFORE REACHING
TOP OF STRATEGIC RANGE OF 45%-50%
    * AS OF MARCH 31, TOTAL PORTFOLIO OCCUPANCY RATE OF 91%
VERSUS 93%
AS OF END-DEC
    * AS OF MARCH 31, FAIR VALUE OF INVESTMENT PROPERTIES EUR
932.2
MILLION VERSUS EUR 892.8 MILLION AS OF END-DECEMBER
    * INTENDED GROSS DIVIDEND PER SHARE FOR 2020 EUR 1.53 AT
SAME
LEVEL AS FOR 2019
    * AS OF MARCH 31, INTERVEST HAS APPROXIMATELY EUR 119
MILLION OF
NON-WITHDRAWN CREDIT LINES
    * EXPECTED EPRA EARNINGS PER SHARE FOR 2020 BETWEEN EUR 1.60
AND
EUR 1.65 BASED ON CURRENT FORECASTS
    * IN 2020, WILL FOCUS ON DEVELOPING GENK GREENLOGISTICS
PROJECT,
TO BE COMPLETED DURING 2020
    * HAS SUFFICIENT FINANCING CAPACITY TO ABSORB POSSIBLE
FUTURE
LIQUIDITY TENSIONS SHOULD DELAY IN RENTAL INCOME PAYMENTS ARISE
    * IN 2020, NO MORE FINANCING AT MATURITY AND COMMERCIAL
PAPER
PROGRAMME IS FULLY HEDGED WITH ADDITIONAL BACK-UP LINES

Source text for Eikon:  ID:nGNE82FNfK 
Further company coverage:  PRIF.BR 

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