Brief: Retail Estates FY Operating Result Lowers To EUR 86.7 Mln

Retail Estates NV

12/06/2020 16:40

June 12 (Reuters) - RETAIL ESTATES NV  RETE.BR :

    * FY NET RENTAL INCOME INCREASES BY 13.30% TO EUR 107.61
MILLION
    * 2019-2020 PROPOSED DIVIDEND IS EUR 4.40 (3.53% INCREASE
COMPARED
TO PAST FY)
    * ON 31 MARCH 2020 OCCUPANCY RATE IS 97.92%
    * FY EPRA RESULT (EXCLUSIVE OF PORTFOLIO RESULT) INCREASES
BY
13.63% TO EUR 69.20 MILLION
    * FY OPERATING RESULT EUR 86.7 MILLION VERSUS EUR 87.8
MILLION
YEAR AGO
    * ON COVID-19: STARTED NEGOTIATIONS WITH ALMOST ALL AFFECTED
TENANTS TO REACH AGREEMENT ON UNPAID APRIL AND MAY RENTS
    * FULL AGREEMENT REACHED WITH TENANTS OF 493 RETAIL UNITS
    * EXCUSES TENANTS FROM PAYMENT OF A MONTH’S RENT ON AVERAGE
(AGREEMENTS CURRENTLY REPRESENT TOTAL OF EUR 5.48 MILLION)
    * SECURES PAYMENT OF RENT FOR MAY AND JUNE
    * DIFFICULT TO PREDICT EVOLUTION OF RETAIL TRADE,
PERFORMANCE OF
CUSTOMERS AND OUR OWN PROFITABILITY


Source text : https://bit.ly/2UEOq0p
Further company coverage:  RETE.BR 

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