Brief: NSI Confirms Final Div. Payment Of 1.12 Euro/Shr, Withdraws 2020 Guidance

NSI NV

16/04/2020 06:20

April 16 (Reuters) - NSI NV  NSTEc.AS :
    * FOR Q1 OVERALL VACANCY RATE OF 7.4%
    * WITHDRAWING GUIDANCE FOR 2020 DUE TO CORONAVIRUS-RELATED
UNCERTAINTY
    * STRONG SOLVENCY AND LIQUIDITY IN CURRENT UNCERTAIN
CORONAVIRUS
ENVIRONMENT
    * Q1 EPRA EPS OF € 0.54 PER SHARE, DRIVEN BY LIKE-FOR-LIKE
NET
RENTAL GROWTH OF 9.9%
    * RENT COLLECTION OF 85% FOR INVOICED RENT FOR MONTH OF
APRIL AND
FOR Q2
    * FINAL DIVIDEND OF € 1.12 PER SHARE CONFIRMED
    * IN THE FORTUNATE POSITION OF HAVING A STRONG BALANCE
SHEET, AT
27.6% LTV BASED ON DEC 2019 VALUATIONS, WITH NO MAJOR DEBT
MATURITIES UNTIL JUNE 2023
    * GROSS RENTAL INCOME IN Q1 IS DOWN BY 7.6% (€ 1.6M)
COMPARED TO
Q1 LAST YEAR
    * OUTLOOK: WE HAVE NOT ASKED FOR ANY GOVERNMENT SUPPORT TO
DATE
AND DO NOT INTEND TO ASK FOR ANY SUPPORT
    * FINANCING COSTS IN Q1 ARE DOWN 23.1% (€ 0.6M) COMPARED TO
Q1
2019
    * SMALL € 25M SECURED LOAN IS DUE IN JULY 2020, WHICH WILL
BE
REPAID BY DRAWING ON THE EXISTING RCF
    * NET DEBT AT MARCH, 2020 EUR 361.2 MILLION

Source text for Eikon:  ID:nNDL4wGWrX 
Further company coverage:  NSTEc.AS 

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