Brief: NSI Sees 2022 EPRA EPS Of Between 2.05 And 2.10 Euros Per Share

NSI NV

25/01/2022 06:21

Jan 25 (Reuters) - NSI NV  NSTEc.AS : 
    * PUBLISHES 2021 PRELIMINARY RESULTS
    * FY EPRA NTA OF €48.23 PER SHARE, UP 8.5% YEAR-ON-YEAR,
WITH
CAPITAL VALUES UP 4.8% IN 2021
    * FY EPRA VACANCY RATE DOWN BY 1.1% TO 5.9%
    * FY FLEXIBLE BALANCE SHEET WITH 28.2% LTV PROVIDES AMPLE
OPPORTUNITY TO PURSUE PROFITABLE GROWTH
    * FY EPRA EPS AT € 2.38 FOR FY 2021, UP 1.3% YEAR-ON-YEAR
    * FY STRONG, FOCUSED INVESTMENT PORTFOLIO AND ATTRACTIVE
5.5%
YIELD ON COST ON DEVELOPMENTS TO DRIVE LONG TERM RETURNS
    * WE EXPECT INDEXATION OF 3-4% IN 2022
    * WE FORECAST AN EPRA EPS OF € 2.05-2.10 PER SHARE FOR 2022
    * WE CURRENTLY PROJECT A STABILISED LEVEL OF EPRA EPS OF €
2.70-2.80 BY 2026
    * A FINAL DIVIDEND OF € 1.12 PER SHARE WILL BE PROPOSED TO
THE AGM
    * OUR INTENTION IS TO MAINTAIN THE DIVIDEND AT € 2.16 IN
2022
    * AT VITRUM WE HAVE ENTERED THE FINAL DESIGN PHASE AND ARE
STILL
AIMING FOR WORKS TO START Q4 2022; NOW ASSUMING WORKS TO START
IN Q1 2023
    * AS PER THE NEXT QUARTER, Q1 2022, WE WILL BE SWITCHING TO
A NEW
SEGMENTATION
    * FOR TRANSPARENCY REASONS, WE ALREADY SHOW WHAT THE NEW
SEGMENTS
WOULD LOOK LIKE PER Q4 2021 BELOW
    * WE WILL PROVIDE RELEVANT SUPPLEMENTAL VACANCY INFORMATION
ON HNK
FOR REASON OF TRANSPARENCY, FOR THE REMAINDER OF THIS YEAR
    * COMPARED TO LAST YEAR, FY GROSS RENTAL INCOME (GRI)
INCREASED BY
€ 0.7M (0.8%) TO € 77.5M
    * FY ADMINISTRATIVE EXPENSES ARE € 0.5M HIGHER COMPARED TO
2020
    * FY FINANCING COSTS ARE UP BY 10.0% (€ 0.8M) COMPARED TO
THE SAME
PERIOD LAST YEAR
    * IN 2021 THE INVESTMENT PORTFOLIO INCURRED A POSITIVE
REVALUATION
OF € 63.1M (+4.8% AT MARKET VALUE) COMPARED TO THE VALUATION IN
2020
    * WE WILL NO LONGER REPORT OFFICE, HNK AND OTHER, BUT
INSTEAD WILL
SWITCH TO AMSTERDAM, OTHER G4 AND OTHER NETHERLANDS

Source text for Eikon:  ID:nNDL5Wx7DD 
Further company coverage:  NSTEc.AS 

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